Here comes another billionaire…

Elliott Management is setting up a company to hunt for global mining assets in the range of at least $1bn, as it seeks to take advantage of the depressed valuation of groups operating in the sector, people familiar with the matter said.

The Florida-based investment firm’s new venture, Hyperion, will be led by Sandeep Biswas, the former chief executive of gold mining group Newcrest Mining and a veteran dealmaker and operator in the sector, those people added. The mandate is to look for deals across all assets, including base and precious metals in addition to commodities in demand for electric vehicle production.

Elliott’s move comes at a time metal prices have pulled back because of macroeconomic weakness but are expected to rise rapidly on a surge in demand, particularly for electric vehicle batteries, renewable energy and power grids, as supply struggles to keep pace…

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One thought on “Elliott Management is setting up a company to invest at least $1bn to buy mining assets globally

  1. Warren says:

    I hope this is a trend moving forward. The flow of money into the resource sector is greatly needed and Elliott just sees too much value to pass up.

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