• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 6 days The United States produced more crude oil than any nation, at any time.
  • 52 mins Could Someone Give Me Insights on the Future of Renewable Energy?
  • 7 days How Far Have We Really Gotten With Alternative Energy
  • 10 days James Corbett Interviews Irina Slav of OILPRICE.COM - "Burn, Hollywood, Burn!" - The Corbett Report
  • 10 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
Canada's Hydro-Heavy Decarbonization Strategy in Jeopardy

Canada's Hydro-Heavy Decarbonization Strategy in Jeopardy

Drought has disrupted Canada's hydropower…

EU Sanctions on Russia Face Legal Challenges

EU Sanctions on Russia Face Legal Challenges

The recent legal challenges to…

Elliott Prepares Over $1 Billion to Invest in Metals Mining Assets

Elliott Investment Management is preparing to roll out a new company with an at least $1 billion war chest to invest in metals mining assets around the world, to take advantage of the energy transition and the currently low market valuations of mining companies, the Financial Times reported on Friday, citing sources with knowledge of the plans.

Elliott, the U.S. activist investor, will be looking to invest more than $1 billion in mining operations, especially underfinanced mines, as well as to carry out possible buyouts of public companies or buy stakes in mining groups, according to FT’s sources.

Elliott’s new company, to be called Hyperion, plans investments in base, precious, and energy transition metals, they noted.

Sandeep Biswas, former CEO at gold miner Newcrest Mining, will lead Hyperion, per FT’s sources.

Last year, Newcrest Mining was acquired by Newmont Corporation in a deal that created the world’s leading gold company with robust copper production.

Elliott expects to finance most of the planned investment in mining assets but if the opportunity arises for larger deals, it could seek a co-investor, sources close to the U.S. investment management firm told FT.

The firm’s foray into metals mining assets comes at a good time for investors looking to buy the dip in mining stocks, which have suffered in recent months from the slump in the prices of key energy transition metals including lithium and nickel.

Moreover, demand for key metals, including copper, is set to surge in the coming years as the world electrifies and electric vehicle sales rise.

Global investments in key energy transition minerals have soared in recent years, and the market has doubled, driven by the rise of EV adoption and a surge in renewable energy capacity installations, the IEA said in its first-ever annual Critical Minerals Market Review last summer. 

The lithium price crash over the past year is leading to a slew of profit warnings and project halts from the world’s biggest miners of the battery metal. But the long-term prospects of the global EV market continue to be solid, analysts say.  


By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:

Join the discussion | Back to homepage

Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News