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Investment manager in the mining industry Ore Investments managed to raise a total of BRL 250 million for the mining industry
Ore Investments, a Brazilian investment fund manager, completed raising more than BRL 250 million from Brazilian and American institutional investors in its first year of operation and plans to invest in gold, copper, phosphate and battery minerals 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 exploration vice-president, the fund's portfolio "should consist mainly of gold, platinum, palladium, copper, nickel, cobalt, zinc, lithium, graphite, iron, manganese and phosphate assets. . In any case, we will analyze other commodities for projects that prove to be interesting within our investment strategy”, he said at the time.
Ore Investments foresees more than 200 projects in the mining industry
The Ore investments team reported on Friday (29) that, in this first year of operation, “the manager has made considerable progress in the business pipeline, with more than 200 opportunities evaluated, 20 of which are in the negotiation and audit stage and around of ten in negotiations with exclusivity with audit already completed”.
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Ore also declared that it increased its team with the entry of the geologist and geostatistician Thiago Bonás, who will be director of evaluation of resources and reserves. “He holds a degree in geology from USP and a master's degree in mineral resources from the same institution. He is a professional with a relevant presence in South America, Canada and Europe”, he concludes.
Brazilian mining increased exports in 2020
Brazil increased by 2% the volume exported in mineral products last year compared to 2019, according to data released by the Brazilian Institute of Mining (Ibram). Business in the sector in the international market generated 11% more foreign exchange in comparison to Brazil, reaching US$ 37 billion. China reinforced its position as the main destination for Brazilian iron ore. The Asian country accounted for 2019% of exports in 62. In 2020, this percentage rose to 72%.
According to Ibram, although production in 2020 was not much higher than in 2019, last year's financial results benefited from price changes in the international market and the appreciation of the dollar. Brazil is, after Australia, the world's largest producer of iron ore, whose appreciation was over 60% over the past year. The ton ended 2020 costing US$ 155,84.
