Collaboration to develop digital mining services

By Catrin Jones30 August 2022

(Photo: Perenti Global Limited)

Sumitomo Corporation has made an investment in the technology company idoba Pty, which operates in the mining sector. 

The agreement states that Sumitomo will acquire 10% of the issued shares in the digital transformation service business of idoba, part of Perenti Global, for a total of US$5.4 million. 

Under the terms of the agreement, Sumitomo and idoba will jointly develop digital mining services, including mining process optimisation and carbon footprint management.

In addition to this, Sumitomo says that the investment is expected to help idoba substantially accelerate its business plan, strengthen access to technology partners, and gain access to a broader global customer base.

Mark Norwell, CEO of Perenti, said, “idoba was launched in July last year and since then we have invested in the expansion of its capabilities and services, including the implementation of appropriate corporate governance structures to support its continued growth.

“This investment by Sumitomo is recognition that in just a short time we have already built a great business capable of delivering very high-quality outputs, underpinned by great people and robust structures that will support the rapid increase in scale.”

NEWSLETTER
Delivered directly to your inbox, Construction Technology Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
CONNECT WITH THE TEAM
Andy Brown Editor, Construction Technology Tel: +44 (0)1892 786 224 E-mail: andy.brown@khl.com
Eleanor Shefford Sales Manager Tel: +44 (0)1892 786236 E-mail: eleanor.shefford@khl.com
Latest News
Top 10 construction technology challenges
The research revealed that a quarter (25%) of those working in construction admit out-of-date software cause everyday challenges at work
NASA awards contract for moon mission tech
The US$57.2 million contract could help build infrastructures on the lunar surface
Planisy software to support the digitalisation of SMEs
The SaaS application software combines human, machine, equipment, locations, physical and digital elements