FLSmidth has begun negotiations with thyssenKrupp to acquire its mining business.

FLSmidth made the announcement on January 15 and said the negotiations were at a non-binding stage. “There can be no assurances as to whether and when a transaction will transpire,” the company said.

Back in October, thyssenkrupp put its Plant Technology division up for sale after reporting a $368 million loss in earnings before interest and tax (EBIT) in the year ending September. The division includes the chemical plant, cement plant and mining equipment businesses.

Any transaction would be subject to statutory clearances from authorities, including approvals from merger control authorities.