SLR Acquires South African Mining Environment Consultant Metago

March 14, 2011 - PRLog -- UK-based SLR Management Ltd said Monday that it had acquired Metago International Holdings Ltd., a leading South African environmental consultant to the global mining industry, in a £7 million deal.

Metago is headquartered in Johannesburg, South Africa, and operates offices in Pretoria, Swakopmund, Namibia, and Perth, Australia.

"Metago provides us with highly complementary technical specialisms and a well-reputed presence in sub-Saharan Africa, while also strengthening our Western Australia operations considerably," SLR chief executive David Richards said in a statement.

The company offers a range of environmental consulting services to the mining industry and works throughout sub-Saharan Africa and in Australia for major mining groups including Xstrata, Rio Tinto, Lonmin and Gold Fields.

Metago consults on mine life, with a particular specialism in mine waste and water management.

The company, which was established in 1994, increased its turnover for the year ended February 2011 by 28 percent to £7.2 million. Ongoing robust demand for Metago's services is being driven by the global commodities boom which has spurred mining companies to invest in more environmentally-challenging and remote locations.

SLR's statement also noted that its acquisition comes as funding institutions are increasingly adopting the Equator Principles, a framework for determining the social and environmental risks and sustainability of financing projects in the developing world.

The deal for Oxford-based SLR marks the latest of four transactions with a combined value of £25 million in the resources and energy sector since early 2010.

Author: Justin Cole, analyst.

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