CITIC HIC Australia has completed an exclusive purchase agreement with SMCC Pty Ltd (SMCC) on 17th December 2012 to acquire 100% of SMCC IP.
CITIC SMCC Process Technology Pty Ltd (CITIC SMCC) has been formed to continue providing technical services to various mining projects, mainly in the area of comminution circuit design, technology and equipment selection, and optimization of mineral processing plants.
Dr. Stephen Morrell emphasised that while the intellectual property of SMCC Pty Ltd is now owned by CITIC Heavy Industries, SMC Testing is unaffected by the acquisition.
“SMC Testing is not part of the purchase agreement with CITIC HIC Australia” Dr Morrell commented, “SMC Tests will continue to be processed by SMC Testing as usual”.
Dr. Morrell, the founder of SMCC, will continue to work with CITIC SMCC for ongoing and future comminution projects, under a strategic partnership agreement. Dr Mike Daniel, who is also an expert in the comminution field, will also be working with CITIC SMCC.
Newly formed CITIC SMCC will be based in Brisbane, Australia and will commence its operation from 1st January 2013. CITIC HIC Australia is 100% owned by CITIC Heavy Industries Co. Ltd China which itself is listed on the Shanghai stock exchange.