Mercuria Redoubles Metals Push With $1.2 Billion Kazakh Deal

Mercuria Energy Group Ltd. is lending $1.2 billion to help fund the buyout of major Kazakh copper producer Kazakhmys, the latest in a breakneck series of deals from the trading house that’s rapidly becoming a major force in metals.

The Kazakh deal shows how Mercuria has carved out a position for itself as the most aggressive of a clutch of companies that have recently entered or returned to metals markets long dominated by rivals Trafigura Group and Glencore Plc. It’s the largest of more than $3.5 billion in metals financing and prepayment deals struck by Mercuria in little over a year since it embarked on its metals drive hiring former Trafigura co-head of metals Kostas Bintas.