[miningmx.com] – SOME $8bn in private equity money is standing by waiting for opportunities to emerge in the global mining industry, said Bloomberg News which added that the time to buy was now.
“Private equity is now looking at the sector with stronger interest, which it hasn’t really done before,’ Raj Khatri, senior managing director, head of metals and mining for Europe at Macquarie Group told Bloomberg News.
“There’s an increasing wall of money now focused on the sector. For the right assets at the right price, it’s a really excellent time to buy,’ he said.
Said Michael Rawlinson, co-head of mining and metals investment banking at Barclays: “They’ve all set up, no one’s done anything. The sand is going through the hourglass and the money is going to get taken away if they don’t start spending.’
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