Norda Stelo enters mining arena with purchase of InnovExplo

Norda Stelo, celebrated for its rich legacy of engineering excellence and as a pioneer in innovative and sustainable solutions, today announced the signing of an agreement to acquire InnovExplo, a company renowned for its expertise in geology and mining engineering.

This new alliance marks a significant step in Norda Stelo's strategy to forge a new vanguard in the mining industry, delivering an integrated suite of services across the entire value chain of critical, strategic, and precious metals, as well as industrial minerals, essential to the energy transition.

This acquisition aligns with Norda Stelo's vision to become the Canadian leader in smart operations from site to port, diversifying its mining and metals expertise, including gold and strategic minerals. It not only underscores Norda Stelo’s unwavering commitment to its truly human approach, to quality, excellence, and the values of integrity and innovation but also highlights its status as a Quebec-owned independent powerhouse. Norda Stelo is set to elevate Canadian mining expertise on both a North American and global stage.

"Given the essential role of the mining sector in the global economy, the imperative for innovation, environmental stewardship, and social governance has never been greater," said Alex Brisson, CEO of Norda Stelo. "By integrating InnovExplo's specialized geological and mining engineering knowledge with our robust impact engineering model, we significantly enhance our capacity to navigate the complex ESG landscape our clients face.

"This acquisition marks a pivotal moment in our journey, amplifying our reach and impact from Canada to the United States and beyond, while contributing to the growth and representation of Quebec and Canadian engineering prowess on the international stage," added Brisson.

In light of this acquisition, a careful and progressive integration of InnovExplo's operations and workforce into Norda Stelo is planned throughout 2024. This strategy ensures the preservation of InnovExplo's existing leadership team, who will play a key role in driving growth. This approach not only promises to expand our service offerings but also to reinforce Norda Stelo’s commitment to the core values of quality and innovation that both companies share.

This acquisition reflects Norda Stelo's strategic vision to not only consolidate and develop new markets in North America and internationally but also to champion the crucial role of mining in today's economy.

CDPQ and Bank of Montreal are providing loans for the merger, but the amount was not revealed.

 Learn more about Norda Stelo and InnovExplor at their respective websites.