Elliott-Backed Triple Flag Lining Up First Mining Finance Deals
- Singer’s firm willing to invest $1 billion-plus, Usmar says
- Run by ex-Barrick CFO, Triple Flag has put in one binding bid
Triple Flag's Usmar Hunting for Deals in Mine Financing
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The former finance chief of Barrick Gold Corp. says his new mining-finance company backed by billionaire Paul Singer’s Elliott Management Corp. is on the prowl for opportunities in the Americas and Australia, primarily targeting precious metals deals.
Triple Flag Mining Finance Ltd. has put in three first-round offers and is advancing on one binding bid, Chief Executive Officer Shaun Usmar said in an interview with Bloomberg TV Canada. Elliott is willing to invest more than $1 billion to start, he said.