Qinfas chief executive is seeking to acquire mining and mineral exploration company Q-series.
The Q-Industry, which is set to launch in 2021, is being sold to Australian giant mining giant Q-Mining Group.
“Qinfas acquisition will provide us with a global presence, a strong and diversified portfolio of businesses, and a highly qualified group of individuals with a wide range of skills to build a strategic and sustainable business,” Q-Miners chief executive Chris Kettle said in a statement.
“We believe that the combination of Q-miners and Q-industries expertise will enable us to further expand our footprint into new markets in Africa, Asia and Latin America.”
Q-Industries’ chairman and chief executive, Chris Kettleson, said the acquisition would provide a “bigger and more sustainable” group of businesses.
“The combination of the two companies will provide an even bigger and more diverse portfolio of activities, which will allow us to provide our customers with a new level of service,” he said.
“Our acquisition will also provide Q-investors with a competitive edge and create an even more efficient and efficient Q-mining industry.”
The Q series, which includes Q-Mine, Q-Ore and Q100, are designed to mine and process heavy minerals such as iron ore and coal, with a focus on developing the mining industry in South Africa.
The mining industry is expected to grow to $16.4 billion in 2021-22, up from $14.9 billion in 2020-21.
The number of people employed in mining is expected in 2020 to be about 7.8 million, up 10 per cent from 2020-17.