(Bloomberg) Abu Dhabi-backed Mubadala Investment Co. is buying into a Swiss online metals-trading platform set up by two former Glencore Plc traders. The United Arab Emirates wealth fund is the lead investor in a $33 million funding round, Zug, Switzerland-based Open Mineral AG said in a statement. The funds will be used to expand the company’s digital trading offering, which allows producers and traders to buy and sell metals and raw materials online. Boris Eykher, Open Mineral’s chief executive officer and co-founder, said the firm has 45% of all global metals buyers and sellers registered on its trading platform. Users include China’s Zijin Mining Group and Russia’s Ural Mining and Metallurgical Co., he said by email. The latest funding round attracted other new investors, including Statkraft and Lingfeng Capital. Open Mineral declined to disclose the size of individual investments. The trading platform’s other backers include Xploration Capital and Emerald Technology Ve
Global Gold Metals Market demand with COVID-19 recovery analysis 2021 better delivery process to boost market growth by 2026 – KSU
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Uzbek president approves state companies to go for IPO
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Barrick to ‘Step Back’ From Freeport After Copper Gain
Bloomberg 2/19/2021 James Attwood © Bloomberg Copper wire rod sits in a storage facility following manufacture at the Uralelectromed OJSC Copper Refinery, operated by Ural Mining and Metallurgical Co. (UMMC), in Verkhnyaya Pyshma, Russia, on Tuesday, March 7, 2017. Russia’s No. 1 zinc miner and No. 2 copper producer plans a far-reaching expansion of its diversified minerals output, billionaire co-owner and Chief Executive Officer Andrey Kozitsyn said in an interview.
(Bloomberg) Barrick Gold Corp. says the window has closed on a potential deal with Freeport-McMoRan Inc., given the run-up in copper prices and recent comments from the world’s largest publicly traded producer of the industrial metal.
Tashkent has promoted privatization schemes before. Is this time different?
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February 12, 2021
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Until recently, investors wishing to purchase stakes in the largest open-pit gold mine in the world, the former KGB building in Tashkent, or the Uzbek Coca-Cola plant would have to contend with a sigh. Now, as part of a highly-publicized privatization program under President Mirziyoyev, stakes in these and other state assets are for sale.
Uzbekistan is slated to fully or partially sell 620 state-owned enterprises, including some of the country’s largest energy and financial firms. Among those to be partially privatized are Uzbekneftegaz, (which contributes 15 percent of the country’s GDP), Navoi Mining and Metallurgical Combine, Uzbekistan Airways, Uzbekistan Railways, and car maker Uzavtosanoat. Over five hundred companies in the chemical, tourism, manufacturing, food and beverage, and finance sectors are planned to be fully privatized.