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Epiroc Completes Acquistion of Remaining Share of Autonomous Solutions Provider ASI Mining



July 3, 2024 - Epiroc, a leading productivity and sustainability partner for the mining and construction industries, has completed the acquisition of the remaining share of ASI Mining, a U.S.-based autonomous mining solutions company. Epiroc already owned 34% of ASI Mining, which it acquired in 2018. The acquisition regards the remaining 66% of the company.

ASI Mining is based in Mendon, Utah, United States. The company, which was a subsidiary of Autonomous Solutions, Inc., is a leading provider of mining automation systems, such as remote control, teleoperation, and fully autonomous solutions. Its solutions are OEM agnostic, meaning they work regardless of machine brand and fit well for mixed fleets. The solutions strengthen mine safety and productivity while lowering emissions and total cost of operation. ASI Mining had revenues of about MSEK 300 in 2023.  

An illustration of ASI Mining’s solutions on a mine truck

Epiroc announced on May 29, 2024, that it had agreed to acquire the remaining shares of ASI Mining. 

The parties have agreed not to disclose the purchase price as the transaction is not subject to a disclosure obligation pursuant to the EU Market Abuse Regulation. 

The transaction will lead to a positive revaluation effect of the ownership held prior to the acquisition in the segment Equipment & Service. The gain will be reported as an item affecting comparability in the third quarter 2024.

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