Molycop has expanded its digital solutions and process optimisation capabilities by acquiring Process IQ.
SYDNEY, NOVEMBER 4, 2022: Molycop announced today the signing of an agreement to acquire Process IQ (“PIQ”), a leading mining technology provider of proprietary data analytics and visualisation, instrumentation and advanced process control solutions.
This is an exciting and important step in Molycop’s digital transformation, as the acquisition of Process IQ complements Molycop’s MillSlicer technology platform and expands its product and service capabilities across leaching, milling (comminution) and flotation. Process IQ also provides world-class circuit optimisation consultancy through 'Orway IQ', a joint venture between Orway Mineral Consultants (OMC) and Process IQ. OMC is a wholly-owned subsidiary of Lycopodium.
Process IQ was established in 2011 by Pieter Strobos and Daniel van der Spuy and is headquartered in Perth, Australia. On signing, Pieter and Daniel expressed their excitement that “together, a combined Process IQ and Molycop will be able to better serve the global mining industry. We can now provide leading digital technology solutions alongside process optimization expertise for our customers to help them realise sustainable productivity enhancements and operational efficiency.”
Process IQ has established a reputation for being a trusted technology partner of metallurgists and mineral processing engineers. Process IQ specialises in using technology to its full potential for its mineral processing customers. By combining specialised instrumentation with advanced process control, data analytics, and visualisation, Process IQ builds solutions that deliver step-change improvements for its customers. Process IQ has established a strong market presence and reputation for delivering a differentiated technology offering focused on improving customer throughput, recovery and efficiency.
Molycop Digital President Darren O’Connell said:
This is a natural step for the Molycop Digital business. This acquisition will enhance our market-leading position in mineral processing.We value the breadth of talent and capability the Process IQ team brings to Molycop, and we are excited to move to the next phase of growth for Molycop’s digital business.
The sale is anticipated to be finalised by the end of November 2022.