Mining contractor Macmahon has confirmed market speculation that it is in discussions about a potential acquisition of GBF Underground Mining Group.
The potential transaction is still in the early stages, Macmahon said in an announcement to the ASX last week.
On Monday, ASX-listed Orminex said that it had been informed about the potential transaction by GBF, with which it had a strategic alliance.
Under the alliance, Orminex and GBF continue to develop the Comet Vale mine, have recently acquired the high-grade Penny’s Find gold mine near Kalgoorlie, and continue to assess a number of other potential mineral venture opportunities.
“GBF has advised Orminex that it is in discussions with Macmahon and more importantly it has advised Orminex that the operation of the strategic alliance will continue, irrespective of whether a transaction is finalised in relation to GBF; it’s business as normal,” said executive chairperson Daryl Henthorn.