Epiroc has completed its acquisition of Yieldpoint, a Canadian company that provides advanced ground support solutions that strengthen safety for mining and civil engineering applications.
The cost of the acquisition was not disclosed.
Yieldpoint is based in Kingston, Ontario, and has about 10 employees. The company designs, manufactures and sells digital geotechnical instruments, and has a customer base worldwide.
Yieldpoint’s solutions help digitalize the ground support and create a safer working environment. Its products include ground movement sensors and telemetry solutions, are primarily used for underground mining, tunnelling and civil construction applications.
“Proper ground support is crucial to safe mining and infrastructure operations. Yieldpoint’s smart and robust monitoring solutions complement our ground support offering well, and expand our portfolio of digital solutions,” said Helena Hedblom, Epiroc’s President and CEO.
“Together we will offer high-tech ground support solutions that allow customers to operate in a safer environment and spend more time focusing on their operations. We look forward to welcoming the experienced and professional Yieldpoint team to Epiroc.”
ASI Mining acquisition
Epiroc has also agreed to acquire the remaining share of ASI Mining, a United States-based autonomous mining solutions company.
Epiroc already owns 34 per cent of ASI Mining, which it acquired in 2018. The acquisition will see Epiroc purchase the remaining 66 per cent of the company.
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Based in Mendon, Utah, the company is a subsidiary of Autonomous Solutions, and a provider of mining automation systems, such as remote control, teleoperation and fully autonomous solutions.
Its solutions are OEM agnostic, meaning they work regardless of machine brand and fit well for mixed fleets. The solutions strengthen mine safety and productivity while lowering emissions and total cost of operation.
“Epiroc and the innovative team at ASI Mining are already collaborating closely to bring the most advanced automation solutions to mining customers,” Hedblom said. “We look forward to complementing their solutions fully with our offering and together continue supporting customers on their automation journey.”
The acquisition of the remaining share requires regulatory approval competition authorities in the United States and is expected to be completed in the third quarter 2024.
