Natural resources-focused private equity firm Resource Capital Partners has confirmed its first investment, providing up to $6m through a convertible debt instrument to finance a capex programme for the Maxut copper-nickel deposit in Kazakstan.
The firm has also renamed itself Centurion Resource Group (CRG) in order to avoid confusion with another similarly named investment outfit.
The developer of the project is BAST, with RCP taking a 50.1 per cent equity interest.
Richard Waryn, managing director, said, “We are pleased to announce our fund’s first investment. The Maxut copper-nickel project offers a compelling opportunity for the Fund to acquire a majority stake in a substantially de-risked project with considerable upside potential.”
CRG has offices in Denver, US and Almaty, Kazakhstan.
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