Australian private equity and a $860m boost in mining
EMR Capital, the Australia private equity firm, has announced that it has raised around $860m as it looks for more investments in copper, gold, potash and coking coal across Australia.
The fund, which is the second round of fundraising, follows on from the company’s first fund which raised around $450m last year.
The company has a keen eye on copper assets following an increased demand for the metal in China and India, and Chief Executive Jason Change admits the company is keeping its options open.
“We love Australia. Anything in copper in Australia we'd like to look at. So, we're looking at a range of different things," he told Reuters.
“I think investors agree with us that there's a universe of interesting opportunities that we're seeing across all four commodities."
EMR has identified a number of assets, such as Glencore PLc’s Cobar copper mine following the previous investments in Martabe gold mine in Indonesia, coking coal mine in Britain, copper mine in Australia and Chile and potash projects in both Spain and the United States.
What is EMR Capital?
EMR Capital is an Australian specialist resources private equity company with the goal of creating superior returns to stakeholders through Successful resources exploration, Deep linkages to Asian markets and Private equity investment management.
The company has offices in Melbourne, Sydney, Cayman Island as well as networks and links across the globe.
EMR Capital was founded by Owen Hegarty, who has a long industrious history in the mining industry with Rio Tinto Asia and Australian Copper (Managing Director from 1989 – 1994), founder of Oxiana Limited. He is also Vice Chairman of Fortescue Metals Group.
Hegarty is also a Fellow and Former Director of the Australasian Institute of Mining and Metallurgy (AusIMM), a Fellow of the Australian Institute of Company Directors and has been awarded the AusIMM Medal and the GJ Stokes Memorial Award for his distinguished service to the mining industry.
He’s not the only one. The EMR Capital Board is bursting with experienced men and women from across the mining industry. You can find out more about them here.
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Get in touch with our editor Dale Benton at [email protected]
Vale invests $150mn to extend life of Manitoba operations
Vale has announced a $150mn CAD investment to extend current mining activities in Thompson, Manitoba by 10 years while aggressive exploration drilling of known orebodies holds the promise of mining well past 2040.
Global energy transition is boosting the market for nickel
The Thompson Mine Expansion is a two-phase project. The announcement represents Phase 1 and includes critical infrastructure such as new ventilation raises and fans, increased backfill capacity and additional power distribution. The changes are forecast to improve current production by 30%.
“This is the largest single investment we have made in our Thompson operations in the past two decades,” said Mark Travers, Executive Vice-President for Base Metals with Vale. “It is significant news for our employees, for the Thompson community and for the Province of Manitoba.
“The global movement to electric vehicles, renewable energies and carbon reduction has shone a welcome spotlight on nickel – positioning the metal we mine as a key contributor to a greener future and boosting world demand. We are proud that Thompson can be part of that future and part of the low carbon solution.”
Vale continues drilling program at Manitoba
Coupled with today’s announcement, Vale is continuing an extensive drilling program to further define known orebodies and search for new mineralization.
“This $150mn investment is just one part of our ambitious Thompson turnaround story. It is an indicator of our confidence in a long future for the Thompson operations,” added Dino Otranto, Chief Operating Officer for Vale’s North Atlantic Base Metals operations.
“Active collaboration between our design team, technical services, USW Local 6166, and our entire Thompson workforce has delivered a safe, efficient and fit-for-purpose plan that will enable us to extract the Thompson nickel resources for many years to come.”
The Thompson orebody was first discovered in 1956 by Vale (then known as Inco) following the adoption of new exploration technology and the largest exploration program to-date in the company’s history. Mining of the Thompson orebody began in 1961.
“We see the lighting of a path forward to a sustainable and prosperous future for Vale Base Metals in Manitoba,” said Gary Annett, General Manager of Vale’s Manitoba Operations.