French testing, inspection and certification (TIC) company, Bureau Veritas has moved to expand its circa-US$450 million-a-year metals and minerals business through the acquisition of large Chilean firm, GeoAssay.
While it gave its shareholders little detail on the acquisition, Bureau Veritas said GeoAssay had 264 technical employees and would boost its exposure to Chile’s copper industry and the Latin American minerals market.
Bureau Veritas’s agrifood and commodities arm contributed €1264.2 million of its €6.2 billion revenue in 2024, a total that was up 6.4% year-on-year. About one-third of that ((€417.2m) was metals and minerals business revenue, said to have recorded low single-digit growth in 2024.
GeoAssay specialises in copper. It is said to operate three automated laboratories in Chile.
“This acquisition positions Bureau Veritas at the forefront of mineral testing activities in this essential copper market of Chile,” Bureau Veritas CEO Hinda Gharbi said.
“The integration of GeoAssay’s state-of-the-art laboratories allows us to immediately meet growing customer demands in Latin America. Our clients will benefit from faster and more accurate results, further strengthening our position in this market.”
