By Rob Starr, Content Manager, Big4.com
Deloitte’s South African member firm has acquired local mining services consultancy Venmyn, to create a new technical and economic minerals advisory practice called Venmyn Deloitte.
Deloitte’s Australian Mining Leader, Stephen Reid, said the new entity was an exciting development for the increasing number of Australian resource companies seeking to invest in African projects as well as those considering projects at home.
“Venmyn Deloitte has the potential to deliver a new level of insight and expertise to Australian resource investors looking at investment potential in Africa that will be hard to match,” he said. “In the current economic environment, we’d expect to see future opportunities for the acquisition of a number of smaller miners across Australia and Africa, and the sort of expertise Venmyn Deloitte has in evaluating reserves will be critical in accurately determining the value of any potential targets.
Deloitte Australia Partner and Global Mining Leader, Phil Hopwood said the Venmyn acquisition had consolidated Deloitte’s global reach in technical resource valuation.