Denham Capital final closes Denham Mining Fund at US $558M

Denham Capital, a global energy and resources private equity firm, has held a final close for first stand-alone mining fund, the Denham Mining Fund, securing US $558 million in total capital commitments.

Denham Mining Fund held an initial close early this year with US $483.65 million in commitments. FirstPoint Equity and Crito Capital acted as placement agents.

The Denham Mining Fund (Fund) will continue its strategy of partnering with management teams with proven track records to acquire companies and assets in the metals and minerals sectors, that are close to or already in production. The Fund targets investments in base metals, metallurgical coal, and industrial and specialty minerals in Australia, Canada, South America and Africa.

Denham Capital has offices in Boston, Houston, Texas, London and Perth, Australia.

Denham Capital’s current mining portfolio includes Sydney based Pembroke Resources (metallurgical coal), Perth based Auctus Minerals (base metals), Mining Ventures Brazil (heavy rare earths), Johannesburg based Pangea Limited (African mining platform), Santiago Metals (copper mines in Chile), Stellar Mining (mining and exploration in Peru).

In September 2017, Denham Capital along with Jeff Stibbard and other shareholders sold Vancouver based JDS Silver to Coeur Mining, Inc. (NYSE: CDE) for up to US $250 million.

photo credit: Denham Capital

News Release

Denham Capital to Deploy More than $550 Million into Global Mining Sector

Leading private equity firm closes first mining fund and seeks management teams across globe

HOUSTON, Texas and PERTH, Australia (July 9, 2018) — Denham Capital, a leading resources and energy-focused global private equity firm, today announced that it closed its first stand-alone mining fund, the Denham Mining Fund, at $558 million to expand its’ portfolio in Australia, Canada, South America and Africa.

“The close of our first mining fund marks a significant and strategic milestone for Denham Capital. We are pleased that our limited partners share our belief that there is a robust pipeline of opportunities across the global mining sector and that they chose to work with us,” said Carl Tricoli, Managing Partner and Co-Founder, Denham Capital. “We are grateful to have the support of our partners who see value in backing our plans to expand Denham’s mining portfolio.”

The Denham Mining Fund (Fund) will continue its strategy of partnering with management teams with proven track records to acquire companies and assets in the metals and minerals sectors, that are close to or already in production. The Fund targets investments in base metals, metallurgical coal, and industrial and specialty minerals in Australia, Canada, South America and Africa

“It’s an attractive market where we see in many jurisdictions the opportunity to secure projects that meet our investment criteria,” added Bert Koth, Managing Director and Partner, Denham Mining Fund at Denham Capital. “We seek to partner with local management teams who understand capital efficiency and can demonstrate edge in accessing opportunity and execution through their superior technical experience and regional knowledge.”

The closing of the Fund brings the amount of invested and committed capital under Denham’s management to approximately $9.8 billion. The firm’s current mining portfolio includes Pembroke Resources, a Sydney based company pursuing and developing metallurgical coal projects in the Asia-Pacific region, Auctus Minerals, a Perth-based company developing base metals assets throughout Australia; Mining Ventures Brazil, a company currently developing a heavy rare earths project in Brazil; Pangea Limited, a Johannesburg based African mining platform targeting and developing projects in several African countries; Santiago Metals, a Chilean mining venture developing copper mines in Chile; and Stellar Mining, a mining and exploration company in Peru. The firm announced the sale of JDS Silver in 2017.

Denham raised the Fund with third-party commitments from institutional investors globally, representing leading foundations, endowments, public and private pension funds, sovereign wealth funds and family offices. Latham & Watkins LLP served as the Fund’s legal counsel and First Point Equity acted as placement agent.

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About Denham Capital

Denham Capital is a leading energy and resources-focused global private equity firm with more than $9.8 billion of invested and committed capital across nine fund vehicles and offices in London, Boston, Houston, São Paulo and Perth. The firm makes direct investments in the energy and resources sectors, including businesses involving international power, oil and gas, and mining, across the globe. Denham’s investment professionals apply deep operational and industry experience and work in partnership with management teams to achieve long-term investment objectives. For more information about Denham Capital, visit www.denhamcapital.com.

Media Inquiries Contact:

Krystal Patout
Pierpont Communications for Denham Capital
kpatout@piercom.com
936-870-6367

Ted Liu

Ted Liu, M.Sc. (Mining), MBA (Finance), is the Editor of Private Capital Journal and CanadaMetals.ca, and former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA). Ted was the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, the most sophisticated and advanced all private capital and public market financing database.