One of the biggest investment companies on Wall Street is about to make a new bet on the future of mining companies.
What’s happening:
- United States investment company Elliott Investment Management has announced they plan to invest $1B USD into mining projects globally through a newly established venture called Hyperion
- Hyperion will look to finance existing mining operations, as well as buy out publicly traded companies and purchase major stakes in mining groups
Why it matters:
- Hyperion could provide vital funding for many mining projects that are in need of growth capital to be significantly advanced
- Bringing new institutional capital to publicly traded mining companies could be a major catalyst for de-risking important projects in precious metals and energy transition metals
Going deeper:
- Hyperion will look to take stakes in mining companies focused on precious metals such as gold and silver, as well as metals needed for electric vehicles and the global energy transition
The intrigue:
- Elliott Investment Management’s new venture Hyperion will be led by Sandeep Biswas, who formerly was running Newcrest Mining prior to it being acquired by Newmont Corporation (NYSE: NEM) to form the world’s leading gold company
