Two former executives from Glencore and Lundin Gold have launched Moranda Metals, a private mining shell company in Canada.
The new company aims to acquire base and precious metals such as gold, silver, and copper assets across the Americas.
Moranda Metals plans to leverage approximately $15bn in available capital from specialist private equity entities to fund its acquisitions, reported Mining.com.
The company is exploring various transaction structures such as acquiring non-core assets from mid-cap and major mining companies, management vend-ins to an existing company, and spin-outs of undervalued assets from mid-cap companies.
Moranda Metals plans to target companies with enterprise values between $200m and $500m.
The company’s co-founder and CEO, Christopher Kololian, previously served as Lundin Gold’s CFO until August 2024.
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Kololian said: “Our team at Moranda Metals has the knowledge, networks and ambition to be the new force for good in the mining sector.
“Our capital partners are overwhelmingly supportive of the opportunity to deploy their vast balance sheets behind a team that shares their ambitions and values. We are excited to partner with asset owners to build Moranda Metals into a next-generation mining company.”
Moranda Metals’ strategy is centred on acquiring operational control of high-quality base and precious metals assets.
The company’s expertise spans from development projects with defined resources to producing assets with growth potential.
The company is looking for scaled assets capable of sustaining profitable operating margins across multiple commodity cycles.
Moranda chair and co-founder Matthew Rowlinson previously served as head of copper business development at Glencore. He sees “a generational opportunity in the market for a vehicle like Moranda Metals.”
Rowlinson said: “Our strategy is underpinned by our core pillars that will enable us to unlock significant, long-term value through innovative structuring, a resolute focus on making a positive societal impact, and leveraging technology as part of a back-to-basics approach to mining processes.”
As a private entity owned entirely by insiders, Moranda Metals has the flexibility to structure transactions creatively, ensuring alignment among its team, operational businesses, and capital partners.
This approach is designed to foster significant value for all stakeholders. Initially, the company plans to match capital partners with opportunities that best suit each potential transaction.
