When the Sawiris family bought La Mancha in 2012, Ariab Mining Company (AMC) was producing 60 koz of gold at Hassaï mine through a heap leach processing plant.
The Hassaï mining area has been in operation since 1992, with over a dozen open pits developed over the years to extract high-grade oxide ore. AMC established a successful model of operation, based upon governmental cooperation in geological research between Sudan and La Mancha. Further exploration by the La Mancha team enabled AMC to increase the oxide life of mine by five years.
La Mancha was in the process of developing a large volcanogenic massive sulphide (VMS) project with carbon-in-leach (CIL) and flotation plants when, in 2015, the Government of Sudan proposed to buy out La Mancha’s stake.
* Completed by La Mancha Holding S.a r.l., the parent company of La Mancha Resource Capital LLP
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The fund works with portfolio companies to generate optimal exit opportunities by developing management succession programs, market positioning, and free float liquidity in concert with underlying business growth.
BUILD & IMPROVE
Support management teams in delivering strategic transformation:
promote operational efficiency improvements
aggressively explore to prove asset and land package potential
build new mines and capacities
proactive management of social & regulatory risk
Within the fund’s portfolio companies, we endorse continuous improvement of ESG metrics through the appointment of key executives to promote, prioritise and manage complex ESG challenges throughout the organisation.
Key investment criteria:
The fund takes large minority stakes (20-30%) in mining businesses that are undervalued in comparison to their peers.
Targets are typically listed and hard to research, with single or in-construction assets that have scope for organic and external growth.
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