Quality control group Intertek has purchased Vigalab, a minerals testing laboratory in Chile.
Vigalab helps mining companies in the Copiapo and Antofagasta regions to analyse and assess the value of mineral deposits being explored (by sample preparation and trace metal analysis, etc.), such as copper, gold, silver, iron, zinc and lead.
"Demand for minerals testing in Chile and Latin America is being driven by increased mining investment and development in the region by local and international companies over recent years. Vigalab complements Intertek's existing minerals capabilities in Brazil," the firm said.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The company was bought from its shareholders for 2,600m Chilean pesos (£3.4m) in cash.
"Vigalab is an excellent new addition to our international minerals capabilities. It also extends Intertek's delivery of quality solutions in support of Latin America's increasing global trade - in particular in the commodities, energy infrastructure, consumer product, food and agriculture industries," said Intertek's Chief Executive Officer Wolfhart Hauser.
The unit will be integrated into Intertek's Commodities division.
BC
-
8 of the best properties for sale with equestrian facilitiesThe best properties for sale with equestrian facilities – from a Georgian manor in Ceredigion, Wales, to a period farmhouse with an equine swimming pool in Banbury, Oxfordshire
-
Energy bills to rise by 1.2% in January 2025Energy bills are set to rise 1.2% in the New Year when the latest energy price cap comes into play, Ofgem has confirmed
