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Kolkata-based Tega Industries, along with Apollo Global, just signed a term sheet to acquire Molycop from American Industrial Partners in a deal worth $1.5 billion.
Tega makes critical-to-operate consumables for mining, mineral processing, and material handling. Think of it as the gear that keeps giant mining machines from stopping.
Molycop, meanwhile, is known for its grinding media which are basically the giant steel balls and chemicals that crush ores in mills to extract metals like copper and gold. With 400+ mining clients across 40 countries, it’s a big deal in the mineral supply chain.
The deets: together, Tega and Molycop will run 26 global manufacturing sites and become one of the world’s largest suppliers of mining consumables. Tega will hold control, while Apollo Funds will keep a significant minority stake.
What it means: the tie-up gives Tega access to Molycop’s stronghold in the US, Canada, and Australia, complementing Tega’s dominance in Europe, West Asia, Africa, and Latin America. For miners, it means more integrated solutions, from consumables to mill optimisation. For Tega, it’s a straight shot at becoming a global mining powerhouse.
Why it matters: Tega already makes the liners, screens, and wear parts that keep mining equipment running, but by bringing in Molycop’s grinding media (the steel balls and chemicals used to crush ores), it can now offer end-to-end solutions inside a mine’s processing plant.
That means instead of selling just one part of the kit, Tega can now walk into a copper or gold mine and provide a full package of consumables.
