PERTH-BASED mining publisher, Aspermont Ltd, has agreed to buy English company Mining Communications Ltd in a cash and scrip deal valued at $18.8 million. MCL is the publisher of the 175-year-old Mining Journal and organiser of the Mines & Money conferences. Aspermont already owns 39.3 per cent of MCL and will move to 100 per cent ownership. It will pay $10.2 million in cash and issue 21.9 million Aspermont shares at an issue price of 40 cents. Aspermont said in a statement the acquisition provided a platform from which the enlarged company could develop international information services to the resources industry and, in future, other sectors. “This is an enormously positive step for Aspermont in its strategy to ensure its longterm global position in the mining information sector,” Aspermont chief executive Colm O’Brien said. “The integration of these two companies will also provide an ideal infrastructure base for the launch of products within new sectors in the UK/European Market.” The combined company will have more than 40 products and about 150 staff. Aspermont currently publishes Australia’s Mining Monthly, Contractor, ResourceStocks and Petroleum Magazine, and has developed news websites including www. miningnews.net and www. petroleumnews.net. The company also organises a range of conferences through its conference business Resourceful Events. Staff reporters
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