Sir Mick Davis, former chief executive officer of Xstrata plc, has launched an investment company focused on battery minerals and has made its first strategic financing move in a graphite mine in Madagascar.
The new company is called Vision Blue Resources. It has said that it intends to capitalize on the structural change in battery mineral demand now under way globally, by acquiring a portfolio of strategically significant investments in battery mineral assets and by capturing opportunities linked to electric vehicles and grid storage growth.
Davis has raised an initial $60 million, of which $29.5 million has now been invested in NextSource Materials, based in Toronto in Canada, which is developing the Molo graphite mine. The proceeds will be used to bring the Molo mine into production, with targeted completion in the first half of 2022, the company said.
Vision Blue is targeting investments in companies in established mining jurisdictions, with well-advanced battery…
Davis has raised an initial $60 million, of which $29.5 million has now been invested in NextSource Materials, based in Toronto in Canada, which is developing the Molo graphite mine. The proceeds will be used to bring the Molo mine into production, with targeted completion in the first half of 2022, the company said.
Vision Blue is targeting investments in companies in established mining jurisdictions, with well-advanced battery…
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