SSH Group moves to acquire Total Contract Mining in strategic expansion push
SSH Group (ASX: SSH) has continued to strengthen its mining services capabilities, signing a non-binding term sheet for the potential acquisition of Perth-based firm Total Contract Mining (TCM).
The company is establishing an “SSH-branded” mining services vertical, with the objective of expanding into the industrial minerals sector.
At the same time, it has been pursuing partnerships within industry to help unlock and bolster its service offering, providing greater exposure to opportunities in tier-one mining and civil projects.
Mining-focused strategy
SSH has restructured its existing business units over the past few months to ensure alignment with its mining-focused strategy, with the TCM acquisition a significant step in that process.
“The signing of this non-binding term sheet for the potential acquisition of Total Contract Mining represents another significant step in our strategy to grow our mining services division,” SSH managing director Daniel Cowley-Cooper said.
“This opportunity, combined with our recent progress in securing key agreements and advancing discussions in the sector, positions SSH Group for potential substantial growth in the Australian resources industry.”
High-potential assets
TCM was founded in 2023 by experienced mining professionals dedicated to partnering with small and mid-sized miners to unlock the potential of undervalued mineral assets.
The company specialises in identifying high-potential mineral assets and presenting their owners with innovative, streamlined approaches to early-stage production.
TCM’s focus is on delivering rapid production parcels that enhance clients’ financial positions through efficiency and cost-effective solutions.
Executive additions
SSH will bring in two key executives from TCM, Kevin Malaxos and Sam Baker.
Mr Malaxos, who will be invited to join the SSH Group board as a non-executive director, brings more than 35 years of experience in the resources sector.
He has held senior management and executive roles across multiple commodities including gold, nickel, iron ore, silver, lead and zinc.
Mr Baker will assume the role of chief operating officer for SSH Mining.