Jolimont Global's 1st mining technology investment

Canadian wireless underground specialist Newtrax selected as best in breed by Jolimont Global
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July 24, 2014 - PRLog -- PRESS RELEASE

23rd July, 2014

Jolimont Global announces first investment in Newtrax

Melbourne, Australia - Jolimont Global Mining Systems (‘Jolimont’), a private equity investor in high growth mining equipment, technology and services (‘METS’) companies, today announced the first investment from its fund, into Newtrax Technologies Inc. (‘Newtrax’) – a leading provider of electronic safety and automation products for underground mines, based in Montreal.

CEO of Newtrax, Alex Cervinka stated, “Jolimont is the ideal financial partner to accelerate our global growth. In addition to the capital to fund our ambitious business plan, they bring a broad network of senior executives in the industry that can open new doors and help us quickly enlist world-class technical sales talent that understand the unique challenges of our niche – underground hard rock mechanized mines.”

MineHop™, the flagship solution deployed by Newtrax on all continents, is unique in the market place because it enables mines to provide wireless connectivity to the most critical part of their process - the face - something no other vendor on the market is able to do. This enables mine operators to identify in real-time the bottlenecks that are preventing them from getting the face utilization they need to hit their productivity goals.  The simplicity of the MineHop™ system allows untrained underground operators to install it within hours.”

Charles Gillies, Director and Chief Investment Officer of Jolimont Global, is joining the Newtrax Board of Directors. "I’m very excited with our investment in Newtrax," Mr. Gillies said. "Jolimont recognizes the potential of Newtrax’s products to dramatically reduce bottlenecks and safety blackspots in underground mines. We’ve looked at over 200 potential investments in the METS space globally since we established the fund with Resource Capital Funds in November 2013, and Newtrax impressed us with their clear market vision and quality of products and highly capable management team.”

About Newtrax

Newtrax is a leader in electronic safety and automation products for underground mines. Its unique MineHop™wireless networking platform is designed to extend network connectivity in active mining areas where permanent communications infrastructure is not yet installed, is not economically viable or could get damaged from blasting. MineHop complements other networks, with a unique feature - no wires for power. The wireless nodes are installed in seconds with only a tie-wrap and can be daisy chained all the way up to the face by operators, without assistance from electricians or IT professionals.

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About Jolimont Global

Jolimont Global is backed by Resource Capital Funds, one of the world’s vqvrd largest resource private equity groups. Jolimont Global and RCF share a view that the METS sector presents exceptional investment opportunities. In today’s environment of high commodity price and operating cost volatility, and significant increases in volumes produced, mining companies will rely heavily on METS companies to provide continuous and step-change solutions to innovate, improve productivity and lower costs.

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About Resource Capital Funds

Resource Capital Funds is one of the worlds largest resource private equity groups and in addition to providing working capital and investment funding brings to the joint venture its deep understanding of the global mining sector and access to its global network.  Resource Capital Funds pioneered the concept of mining private equity with investment to date in more than 115 mining companies involving mining projects located in 39 different countries and in 28 different commodities.

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Lex McArthur
Source:Jolimont Global Mining Systems
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Tags:Mining, Technology, Underground, Safety, Investment
Industry:Mining, Technology
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