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The Investment Manager Ore Investments Raised a Total of R$ 250 Million for the Mining Industry
Ore Investments, a Brazilian investment fund manager, has completed the raising of over R$ 250 million from Brazilian and American institutional investors in its first year of operation and plans to invest in gold, copper, phosphate, and battery metals in 2021.
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The manager will focus on discovering new deposits and operating medium-sized mines. According to Ricardo Lopes, who serves as Vice President of Exploration, the fund’s portfolio “will primarily consist of assets in gold, platinum, palladium, copper, nickel, cobalt, zinc, lithium, graphite, iron, manganese, and phosphate. In any case, we will analyze other commodities for projects that may prove interesting within our investment strategy,” he stated at the time.
Ore Investments Expects More Than 200 Projects in the Mining Industry
The Ore Investments team announced on Friday (29) that in its first year of operation, “the manager has made considerable progress in the business pipeline, with over 200 opportunities assessed, of which 20 are in negotiation and auditing stage and about ten are in exclusive negotiations with the audit already completed.”
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Ore also stated that it has expanded its team with the addition of geologist and geostatistician Thiago Bonás, who will serve as Director of Resource and Reserve Evaluation. “He graduated in geology from USP and holds a master’s degree in mineral resources from the same institution. He is a relevant professional with experience in South America, Canada, and Europe,” he concluded.
Brazilian Mining Increased Exports in 2020
Brazil increased the volume of exported mineral products by 2% last year compared to 2019, according to data released by the Brazilian Mining Institute (Ibram). The sector’s international business generated 11% more in foreign exchange for Brazil compared to the previous year, reaching US$ 37 billion. China reaffirmed its position as the main destination for Brazilian iron ore. The Asian country accounted for 62% of exports in 2019. By 2020, this percentage rose to 72%.
According to Ibram, although production in 2020 was not much higher than in 2019, the financial results from last year were boosted by price variations in the international market and the appreciation of the dollar. Brazil is, after Australia, the second-largest global producer of iron ore, whose value increased by over 60% throughout last year. The price per ton ended 2020 at US$ 155.84.
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