BOSTON & HOUSTON--(BUSINESS WIRE)--Denham Capital, a leading energy and resources global private equity
firm, has committed $200M to establish an African mining platform in
partnership with Pangea Exploration, a South African mining exploration
company. The new business will target a wide range of opportunities
across Africa.
“The Pangea team
welcomes working with Denham Capital. Denham???s global resource
investment expertise and track record perfectly complements the Pangea
team???s skills-set and Pangea???s African mining experience.”
Pangea Exploration is led by Rob Still and his team, who have a strong
track record of entrepreneurial success and proven operating experience
in large corporate ventures. Mr. Still???s recent positions included
Chairman of Zimbabwe Platinum Mines (Zimplats), Chairman of Metorex and
director of Pan African Resources.
The new venture will look at opportunities across all stages of the
project life cycle, from derisking, to resource expansion, to cash flow
development and including operating assets. It will target the
geologically rich resources of Africa, which face shortages of the
necessary risk capital and managerial and entrepreneurial expertise
needed for their development.
The venture will review opportunities in a wide range of minerals
including gold, platinum group metals, iron ore, coal and copper, and is
currently reviewing multiple projects in those metals.
Bert Koth, Director at Denham Capital, said: ???Rob and his team are
uniquely well positioned to create value in African mining projects and
this new platform establishes a well funded vehicle to take advantage of
a wide range of opportunities. Local developments that we see as
attractive opportunities for capital intervention include the emergence
of Mozambique as a major global coal supplier, the diversification of
Botswana???s mining industry, the development of iron ore opportunities in
West Africa and gold mining consolidation opportunities in the same
area. We are delighted to be working with this exceptional management
team.???
Rob Still, Director of Pangea Exploration said: ???The Pangea team
welcomes working with Denham Capital. Denham???s global resource
investment expertise and track record perfectly complements the Pangea
team???s skills-set and Pangea???s African mining experience.???
About Denham Capital:
Denham Capital is a leading energy-focused global private equity firm.
With over $4 billion of invested and committed capital, Denham makes
direct investments in the energy and commodities sectors, including
businesses involving oil and gas, metals and mining, and power and
renewables. With offices in Boston, Houston, Short Hills, London, Sao
Paulo and Singapore, Denham invests globally, with investments currently
in the US, Canada, the Caribbean, South America, Europe, Australia and
Asia. Denham invests across all stages of the corporate lifecycle, from
exploration and development projects to mature, operating businesses,
and all segments of the capital structure. For more information about
Denham Capital, visit www.denhamcapital.com.