Denham Capital Buys Stake in New Zealand Offshore Iron Ore Explorer TTR

Denham Capital Management, a U.S. private equity investor, said it bought a stake in Trans-Tasman Resources Ltd., which has a permit to search for iron ore deposits off the coast of New Zealand.

The funds will help Wellington-based Trans-Tasman Resources advance a project to dredge ore from the sea floor, process it on an offshore rig and ship it to markets in Asia or New Zealand, the companies said in an e-mailed statement. The size of the investment and the cost of the project weren’t disclosed.

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