Global miner Glencore , Chrysler parent Stellantis and Volkswagen's battery unit PowerCo have agreed to back a $1 billion deal by blank-cheque fund ACG Acquisition Company to buy two mines in Brazil, ACG said on Monday.
battery unit PowerCo have agreed to back a $1 billion deal by blank-cheque fund ACG Acquisition Company to buy two mines in Brazil, ACG said on Monday.picks up, spurred in part by investors betting on rising demand for metals needed for the global green energy transition in coming years.
Only a few such deals have taken place in mining, including Vision Blue Resources, a fund founded by former Xstrata boss Mick Davis backing a $300 million SPAC, and Metals Acquisition Corp, which listed in New York and bought a copper mine owned by Glencore.
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