One of the most prominent Anglo-Russian executives in the metals industry is seeking to raise $125 million for a new mining venture through a London-listed SPAC, The Financial Times reports.
Artem Volynets, former chief executive of EN+ Group, believes now is a good time for mining deals, particularly for critical metals such as copper and cobalt, despite difficult market conditions.
“This is a great time. The valuations are depressed,” Volynets said. “The next 12 months is a terrific time to negotiate a transaction . . . It has been placed into our hands.”
The new blank-check ACG launches an IPO today and will identify a target mine producing copper, nickel, cobalt or another metal. Read more.
