SSH Group Eyes Total Contract Mining

SSH Group Ltd (ASX:SSH) has announced the signing of a non-binding term sheet to acquire 100% of Total Contract Mining (TCM). This move is strategically aligned with SSH’s objective to expand its mining services vertical and strengthen its position within the Australian resources sector. The proposed acquisition aims to create a vertically integrated mining services offering, combining personnel, equipment, and project execution under one umbrella. The consideration for the acquisition will be milestone-based, incorporating a combination of cash and SSH securities, ensuring a vested interest from both parties. The deal hinges on several conditions, including satisfactory due diligence, finalization of employment agreements with key personnel, and approval from the Board. TCM, established in Western Australia in 2023, specializes in partnering with small to mid-sized miners to optimize undervalued mineral assets. Their expertise lies in providing streamlined approaches to early-stage production, focusing on grade, operational efficiency, and cost management. Key leadership integration is planned, with Kevin Malaxos, bringing 35 years of resources experience, anticipated to join the SSH Group Board as a Non-Executive Director. Sam Baker, Founder and Managing Director of TCM, will play a key role in integrating TCM’s operations into SSH Group. During due diligence, SSH will review TCM’s workbook of mining projects and pipeline. SSH Managing Director Daniel Cowley-Cooper emphasized that this potential acquisition is a crucial step in growing their Mining Services division, positioning SSH Group for growth in the Australian resources industry, with value creation and operational resilience as objectives.