Chilean industrial conglomerate Sigdo Koppers said it is scouring the market for acquisition targets in North America to grow its share of mining explosives as deteriorating ore grades push up demand for blasting. The group’s Santiago-listed explosives unit, Enaex, has built up a large presence in Chile, Brazil and South Africa, and is now looking to expand its small share of the US market and set up shop in Canada, with acquisitions of established local firms an attractive option in what is a highly regulated industry. The company is also looking to grab more market share in Peru and Australia, challenging leaders Orica and Dyno Nobel.
