Deals
Private Equity Eyes Base-Metal Deals as Rally Buoys Gold Miners
- Waterton expects to do half a dozen base-metal deals this year
- Gold rally causing gold miners to shift from sellers to buyers
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Private equity firm Waterton Global Resource Management is finding the best investment opportunities are in industrial metals as surging gold prices give precious metal companies some “breathing room.”
The Canadian firm, whose billion-dollar investment fund focuses on North American mines, expects to do half a dozen base-metal deals this year as producers continue debt-reduction efforts after prices slumped, Chief Investment Officer Isser Elishis said. In contrast, gold’s 16 percent rally this year is taking pressure off miners to sell assets, at least for now.