Sydney equity firm takes major share in MICROMINE

Image: Micromine

Mining technology company MICROMINE is shaking up its ownership structure after equity firm Potentia Capital acquired a majority stake in the business.

Potentia Capital is a Sydney-based private equity firm focused on technology and software. The company has issued over $2 billion of capital across the global tech sector since its inception, with investments ranging from $50 million to over $300 million.

Michael McNamara, Potentia Capital investment director, said the company had been impressed by MICROMINE’s “track record of innovation, world-class mining software and loyal customer base”.

MICROMINE chief executive officer Claire Tuder, who will maintain significant ownership of the company alongside her family, said the company had been looking for a partner to assist it with a new phase of growth.

Tuder will continue as CEO following the Potentia Capital investment.

MICROMINE was founded in 1986 and is primarily known for its suite of mining-focused software, which includes Geobank, Micromine and Pitram.

Geobank is designed for geological data management; Micromine is a mine design platform that comes with tools for 3D modelling, optimisation, scheduling and several other tasks; and Pitram is built for fleet management and mine control records.

MICROMINE was last week awarded a contract by major miner Independence Group to integrate its latest Pitram software at the Nova nickel-copper-cobalt mine in Western Australia. The rollout is expected to be completed in early 2019.

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