Private equity firm
Appian Capital Advisory LLP closed its first natural resources fund in 2014 taking in US$400 million. Since then, the London-headquartered firm has helped bring five mines into production and expects that another two investments will start production within two years.
In March, Appian marked its first major exit from an investment with the US$350-million sale of
Avanco Resources, which owns the world’s fifth-highest grade, open pit copper mine in Carajas, Brazil to
Oz Minerals (ASX: OZL; US-OTC: OZMLF).
The fund is also invested in
Roxgold (TSX: ROXG), owner of the Yaramoko gold mine in Burkina Faso;
Harte Gold (TSX: HRT), whose key asset is the Sugar Zone gold property, 80 km east of the Hemlo gold camp in Ontario; and
Peak Resources (ASX: PEK), which owns the Ngualla project in Tanzania, one of the world’s largest and highest grade undeveloped rare earth assets.
Continue reading at The Northern Miner.
Comments