Sprott launches global mining fund

By Staff | September 27, 2013 | Last updated on September 27, 2013
1 min read

Sprott Inc. today announced that it has launched a new offshore global mining fund with Zijin Mining Group Company Limited.

All relevant regulatory approvals have been received in Canada and the People’s Republic of China and the fund has been initially seeded with US$100 million from Zijin and US$10 million from Sprott.

Read: Different metals, different fates

The fund management company is a joint venture between Sprott and Zijin and will invest primarily in the publically-listed equity and debt instruments of gold, other precious metals and copper mining companies. The fund will be co-managed by affiliates of Sprott and Zijin. Under the joint venture agreement, Americas Now Resources Investment Management Corp. has agreed to provide technical and marketing services to the Fund.

The target size of the fund is US$500 million and Sprott anticipates receiving additional commitments from onshore Chinese investors beginning in the fourth quarter of 2013.

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Advisor.ca staff

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.