Vision Blue Resources announce today that it has raised an initial $60 million and made its first investment of US$29.5m in NextSource Materials, which is developing one of the largest and highest quality flake graphite deposits in the world.
Vision Blue was created by Sir Mick Davis in December 2020 “…to capitalise on the structural change in battery mineral demand underway globally by acquiring a portfolio of strategically significant investments in battery mineral assets,” said VBR in a statement.
“VBR has already identified a number of attractive opportunities and expects to rapidly grow its portfolio. VBR is targeting investments across battery minerals in assets that are either near production or late-stage exploration and where VBR is able to work with existing management teams and shareholders to create significant value. In particular, VBR will prioritise assets with phased development growth potential that can become increasingly significant in the market through incremental expansion and that utilise well understood processing technologies with low-risk logistics solutions.”
The company said funds will be used for construction of Phase I of the Molo Project, to fast track the completion of two technical studies in order to confirm the capital and operating costs for both Phase II mine expansion, and for a value-added graphite processing plant to produce spheronized, purified graphite for lithium-ion batteries in electric vehicles.
David is credited with building Xstrata plc into one of the largest mining companies in the world prior to its acquisition by Glencore plc. Before listing Xstrata on the LSE as CEO he was CFO of Billiton plc and Chairman of Billiton Coal which he joined from the position of Eskom CFO.
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