Company is confident about merger
Mineral process engineering and project management firm MDM Engineering reports that its merger with Australia-based resource-sector services company Sedgman’s wholly owned subsidiary, Sedgman Africa Investments, is progressing.
The company says that the proposed $109-million merger, which was expected to be concluded by the end of April, still has some conditions precedent to meet before it is finalised. The companies now expect the merger to be concluded by mid-May.
“At this stage, the South African and Tanzanian competition commissions have approved the merger. Once finalised, the merger will result in MDM Engineering having access to bulk commodity process plant technology and, in return, will provide Sedgman with metal- liferous experience in, for example, gold, copper, platinum and uranium,” says MDM Engineering executive director George Bennett.
He adds that the companies have successfully been awarded two joint venture tenders for the feasibility studies for gold projects.
“We believe this shows that when the merger is finalised, we will continue to work together with even greater success,” Bennett says.
The company plans to continue growing this year through projects in Africa and the leveraging of Sedgman’s bulk commodity capabilities worldwide.
“Gold is currently the most popular commodity, most probably as a result of the current price and challenges associated with bulk commodities. Copper currently also appears to be a popular choice,” he says.
MDM Engineering is undertaking five execution projects at various stages of progress, representing project capital expenditure of more than $500-million in confirmed contract work, and seven bankable feasibility studies.
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