Redpath (Australia) Holdings Pty Ltd, a wholly owned subsidiary of Redpath Mining Inc, has signed a share purchase agreement to acquire RUC Mining Contractors Pty Ltd (RUC).
Pending regulatory approvals, it is expected that the acquisition will be completed and for RUC to officially become part of Redpath by June 2024.
George Flumerfelt, Chief Executive Officer at The Redpath Group, said the acquisition reconfirms Redpath’s position as a global leader in mine development, shaft sinking and raise drilling services.
“Redpath has held RUC in high regard for a long time and this agreement is evidence of the quality of service and expertise it sees across the RUC team. Our combined capabilities will be a compelling proposition to customers and strengthen our position in capturing large and important projects in the future,” said Flumerfelt.
“Acquiring RUC will give Redpath enhanced scale, capabilities and stronger balance sheet to strengthen our market position and fund growth, particularly in the Australian, African, European and Asian markets.”
“Our presence in the Australian market will be comprehensive, with a country-wide footprint able to provide a full range of services and support from both the east and west coasts, benefitting customers and employees.”
Once complete, the acquisition will enable Redpath it says to deliver a more diverse range of services to customers and opportunities to employees, including:
- Mechanised mining: A single company that brings together the best of Redpath and RUC to offer customers comprehensive capability and reach.
- Raise drilling: Be the Australian market leader, with increased investment in training and equipment that will strengthen Redpath’s global position.
- Shaft sinking: Giving Redpath customers access to new capabilities from RUC, while also giving RUC customers access to Redpath’s global shaft sinking business.
- Greater connectivity across Australia: bridging the east and west coasts with dedicated plant, assets and training facilities on both sides of the country.
- Diverse and iconic projects: Redpath becomes the go-to turn-key contractor for major vertical and lateral development works.
Flumerfelt said Redpath management’s commitment to safety, and being a leader and employer of choice in the industry remain unchanged.
“Safety – First, Last and Always – is and will always be our number one priority. We are excited about the opportunities this acquisition will create for employees – including more training and professional growth, diversity of projects and exposure to work opportunities around the world.”
