https://www.miningweekly.com

New La Mancha fund eyes gold opportunities

27th July 2021

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

Privately owned investment group La Mancha has created a new mining fund, which would target opportunities in the “fragmented” gold mining sector, chairperson Naguib Sawaris announced on Monday.

The first closing of the fund had been completed with the receipt of all La Mancha’s gold mining assets, as well as an investment of $100-million from a strategic partner now investing alongside the Sawaris family.

The fund currently has more than $1.4-billion in assets and is assessing a number of new opportunities, with its primary investment focus being gold and precious metals mining, but with the flexibility to invest in battery metals.

The fund takes “significant” stakes in junior mineral resource companies with “strong managerial and geological potential to implement a three-to-five-year value creation strategy.

“Creating a fund is the natural consequence of what we have been doing since we vended-in our operational assets into Evolution and Endeavour in 2015. Transitioning to a fund structure and welcoming new investors is timely when we are seeing opportunities in a gold mining sector which is fragmented and needs further consolidation,” said Sawaris.

La Mancha Capital Advisory would advise the Luxembourg-based fund, supported by an advisory committee, chaired by Sawaris, that included several well-known mining personalities.

Edited by Creamer Media Reporter

Comments

The functionality you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION