Mining.com reports that gold projects are no longer the favourite destination of private capital raised for investment in the mining sector as optimism about electric vehicle demand steer funds into battery metals.
Private-equity deals in the mining industry bounced back in 2017 according to a new report by UK law firm Berwin Leighton Paisner with investment in the sector jumping by more than 30% to $2.3 billion.
43% of fund managers believe it has become easier to find attractive investment opportunities in the metal and mining space
Copper overtook gold as the most attractive commodity in 2017, with $1.6 billion in deals representing just shy of 70% of all money flowing into the sector. Battery metals such as lithium, cobalt (which is mined as a byproduct of copper and nickel), vanadium and graphite attracted $175 million from private equity investors according to the report quoted by Bloomberg.
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