[miningmx.com] – DISTRESS in the world’s mining sector was leaving the door open to private equity which has seen an opportunity to buy assets, said Reuters citing Caroline Donally a director for Denham Capital.
“This is a prime time in the market for us,” Donally told Reuters. “Companies and management teams are starting to capitulate around valuations and we’re starting to see a lot more assets become available, which historically we never could tap”. Denham has around $1bn invested or committed in mining.
“It will be a couple of years before M&A comes back,” Mark Sawyer, senior partner at private equity fund, Greenstone Capital told the newswire.
“As traditional lenders and equity capital markets get more cautious and more reluctant to invest, then they of course create a vacuum.”
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