SSH Group Ltd says it has entered a non-binding termsheet for the potential acquisition of Total Contract Mining (TCM), a company established in Western Australia in 2023 by a team of seasoned mining professionals dedicated to partnering with small and mid-sized miners to unlock the potential of undervalued mineral assets.
This development aligns with SSH Group’s strategy to rapidly grow its mining services capabilities and strengthen its position in the Australian resources sector, it says.
“With this initiative, SSH is able to round out a vertically integrated mining services offering – bringing people, equipment and execution under one roof,” the company says.
More specifically, it will expand SSH’s Mining Services vertical from workforce through to production capability, involve the restructuring of existing business units under the consolidated SSH Group for increased scale and synergy, and allow the company to focus on providing turnkey mining solutions and exploring profit-sharing arrangements.
This transaction is subject to conditions precedent including final due diligence, employment agreements with key personnel and required board approvals.
The consideration structure will be tied to performance milestones and will involve a combination of cash and SSH securities, ensuring strong alignment between the parties post-acquisition.
TCM specialises in identifying high-potential mineral assets and presenting their owners with innovative, streamlined approaches to early-stage production. Its focus is on delivering rapid production parcels that enhance clients’ financial positions through efficiency and cost-effective solutions.
TCM prioritises grade, operational efficiency and cost management, by working closely with clients to identify, develop and operate profitable projects. TCM is committed to delivering tailored mining services that maximise value and drive successful outcomes. It has a strong capability profile with open-pit, underground and drill and blast services, SSH added.
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