Shaft Sinkers is set to double production in next five years

London-based company International Mineral Resources (IMR) has acquired a 60% stake in Shaft Sinkers in a deal worth R245-million.

IMR manages mining assets in Africa, Eastern Europe and Central Asia, and has a significant shazenith crushers paint colorreholding in Samancor Chrome in South Africa.

Other African interests include the Chambishi smelter and the Luanshya copper mine, in Zambia. IMR is also one of the largest nickel producers in Europe.

As one of the biggest privately owned min-ing businesses in the world, IMR operates in markets that Shaft Sinkers has never tapped.

The company believes that the services and skills it will acquire in taking a majority stake in Shaft Sinkers could offer huge opportunities for growth.

According to IMR and Shaft Sinkers director Alon Davidov, Shaft Sinkers presents “an excellent fit” for IMR’s worldwide expan- sion strategy.

“There is a tremendous skills shortage in the market, from geologists through to extraction and processing specialists. “Shafts are also going deeper, and Shaft Sinkers’ experience in deep shafts is invaluable,” says Davidov.

Shaft Sinkers’ training programmes have put the company in the forefront of contract sinking and mining skills development. The company’s vast experience in deep-shaft mining gives it a competitive edge now that surface deposits have decreased and the trend is to go deeper to meet demand for mineral commodities.

Shaft Sinkers recently participated in a roadshow in Kazakhstan, which has a profile similar to South Africa’s. The buyout will see Shaft Sinkers sharing IMR’s focus on the African continent, Central Asia and Russia, where IMR has invaluable knowledge of the market.

With several new projects in the pipeline, short-term goals include re-examining the strengths of both companies to refocus on using Shaft Sinkers’ competitive skills.

Noncore activities will be evaluated to ensure a fit within the group and both companies’ strengths will be intensified. Acquisitions may also form part of the new structure to achieve long-term goals.

Shaft Sinkers is set to double production in the next five years with IMR’s resources, stability and backing.