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Mining Veteran Wants to Build a $1 Billion Battery Metals Giant

  • Menell’s TechMet to supply more materials used in batteries
  • Plan is for a $1 billion IPO in about five years, Menell says
De Beers Studies Soaking Carbon Into Diamond-Mine Waste Rock
Photographer: Waldo Swiegers/Bloomberg

South African mining veteran Brian Menell wants to build a battery material giant to help challenge China’s domination of the nascent industry.

It’s still early days for his privately funded company, TechMet Ltd., which controls just a handful of assets from Canada to Rwanda. But he’s raising more money and sees countries such as the U.S. and Japan as potential partners to help catch China in the rapidly growing industry to provide battery grade supplies of everything from tin and tungsten to nickel and cobalt.