RE: China Syndrome21 Sep 2023 10:54
forget china, the hot money in mining is suddenly saudi
a us$2.6-billion deal announced last week has set the stage for a potentially landmark shift in the metal and mining investment landscape
a us$2.6-billion deal announced last week has set the stage for a potentially landmark shift in the metal and mining investment landscape: the arrival of saudi arabia as a pivotal player.
the agreement with vale sa gives the kingdom a 10 per cent slice in one of the world’s crucial suppliers of nickel and copper — essential metals needed to decarbonize. it’s also held other talks, including with barrick gold corp. about investing in a big ****stan copper mine, according to people familiar with the matter. speaking privately, executives at top miners said the value of july 27’s deal made clear that the saudis are ready to splash cash around.
https://financialpost.com/commodities/mining/forget-china-hot-money-mining-saudi-arabia