Chile’s dominant mining explosives company Enaex continues to quietly build its position in the Australian market, acquiring local company MTi Group and its blasting ancillary product lines for US$85 million.
Enaex bought Downer Blasting Services at the end of 2020 for US$45m, adding a $110 million-a-year emulsion manufacturing and mobile distribution business.
It said MTi, known for its Blastbag and Blastshield drill-and-blast performance aids, enhanced its product and service offering. MTi has four production sites in Australia, China, US and South Africa, and its customer list is said to include BHP, Anglo American, Newmont, Glencore, Rio Tinto, Barrick Gold and Vale.
“The acquisition of MTi Group is consistent with our strategic plan to continue strengthening our international presence in the main mining regions, in order to continue providing an excellent service to our customers,” Enaex CEO Juan Andres Errazuriz said.
The company recently invested in the O-Pitblast technology business of Finland’s Forcit Group.
Enaex, part of Chile’s Sigdo Koppers Group, has grown by more than 50% over the past 2-3 years into a circa-US$2 billion-a-year global explosives, services and technology enterprise.
