{"id":563910,"date":"2021-07-28T04:00:08","date_gmt":"2021-07-28T04:00:08","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/la-mancha-fund-aims-to-raise-usd-300-400-mn-investments\/"},"modified":"2021-07-28T04:00:08","modified_gmt":"2021-07-28T04:00:08","slug":"la-mancha-fund-aims-to-raise-usd-300-400-mn-investments","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/la-mancha-fund-aims-to-raise-usd-300-400-mn-investments\/","title":{"rendered":"La Mancha fund aims to raise USD 300-400 mn investments"},"content":{"rendered":"

<\/a> La Mancha\u2019s fund targets USD 300-400 mn contributions<\/strong>: Sawiris-run La Mancha is open accepting new investors in its new USD 1.4 bn mining fund, aiming to attract investments worth USD 300-400 mn, Chairman Naguib Sawiris told Al Arabiya in a phone interview yesterday (watch, runtime 7:19<\/a>). The company announced this week that it is transforming itself into a fund, reaching a USD 1.4 bn first close<\/a> with its current gold mining assets and a USD 100 mn contribution from an unnamed strategic investor.<\/p>\n

Why the new fund?<\/strong> Sawiris has plans for new acquisitions in the gold mining industry, which represent a big share of the net worth of the Sawiris family. La Mancha already has 20-30% stakes in four listed companies, namely Endeavour Mining, Golden Star, Altus Strategies and Evolution Mining.<\/p>\n

The strategy<\/strong>: La Mancha aims to both buy and restructure small and medium-sized businesses then merge them with larger entities in a bid to raise their production capacity and cut administrative costs, Sawiris said. These include listed companies valued at USD 200-300 mn which own one or two small mines and are in financial distress. The fund may also look for stakes in smaller mining outfits with \u201cstrong managerial and geological potential to implement a 3-to-5-year value creation strategy.\u201d<\/p>\n

The fund will be mainly focused on Egypt, <\/strong>thanks to the new amendments<\/a> to the Mineral Resources Act, Sawiris noted. He wants to acquire more gold exploration licenses, after his Altus Strategies subsidiary Akh Gold won four licenses<\/a> for nine blocks in the Eastern Desert earlier this year.<\/p>\n","protected":false},"excerpt":{"rendered":"

La Mancha\u2019s fund targets USD 300-400 mn contributions: Sawiris-run La Mancha is open accepting new investors in its new USD 1.4 bn mining fund, aiming to attract investments worth USD 300-400 mn, Chairman Naguib Sawiris told Al Arabiya in a phone interview yesterday (watch, runtime 7:19). The company announced this week that it is transforming […]<\/p>\n","protected":false},"author":1,"featured_media":563911,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7272],"tags":[72,7093,125,3689,373,2065],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-563910","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-enterpriseam","tag-gold","tag-investment-watch","tag-la-mancha","tag-mining","tag-naguib-sawiris","wpautop","entry"],"acf":{"mongo_id":"ea111d65-71e2-421f-8ef8-50954d36a246","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/7\/280.jpg","photo_position":"above","related_issue":[563899],"teaser":"","voice_url":""},"yoast_head":"\nLa Mancha fund aims to raise USD 300-400 mn investments - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/la-mancha-fund-aims-to-raise-usd-300-400-mn-investments\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"La Mancha fund aims to raise USD 300-400 mn investments\" \/>\n<meta property=\"og:description\" content=\"La Mancha\u2019s fund targets USD 300-400 mn contributions: Sawiris-run La Mancha is open accepting new investors in its new USD 1.4 bn mining fund, aiming to attract investments worth USD 300-400 mn, Chairman Naguib Sawiris told Al Arabiya in a phone interview yesterday (watch, runtime 7:19). The company announced this week that it is transforming […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/la-mancha-fund-aims-to-raise-usd-300-400-mn-investments\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-28T04:00:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/280.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/la-mancha-fund-aims-to-raise-usd-300-400-mn-investments\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/la-mancha-fund-aims-to-raise-usd-300-400-mn-investments\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"La Mancha fund aims to raise USD 300-400 mn investments\",\"datePublished\":\"2021-07-28T04:00:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/la-mancha-fund-aims-to-raise-usd-300-400-mn-investments\/\"},\"wordCount\":266,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/la-mancha-fund-aims-to-raise-usd-300-400-mn-investments\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/280.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"gold\",\"investment watch\",\"La Mancha\",\"mining\",\"Naguib Sawiris\"],\"articleSection\":[\"Investment Watch\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/la-mancha-fund-aims-to-raise-usd-300-400-mn-investments\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/la-mancha-fund-aims-to-raise-usd-300-400-mn-investments\/\",\"name\":\"La Mancha fund aims to raise USD 300-400 mn investments - 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The announcement came as La Mancha\u2026","rel":"","context":"In "Commodities"","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/460.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":588827,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/18\/la-mancha-bets-big-on-brazilian-metals\/","url_meta":{"origin":563910,"position":1},"title":"La Mancha bets big on Brazilian metals","author":"enterpriseam admin","date":"18 June 2023","format":false,"excerpt":"The USD 1 bn acquisition is also backed by Glencore, Stellantis, and VW\u2019s battery unit","rel":"","context":"In "Mining"","block_context":{"text":"Mining","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/mining\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/828.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":558834,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/29\/sawiris-likes-chilean-copper\/","url_meta":{"origin":563910,"position":2},"title":"Sawiris likes Chilean copper","author":"enterpriseam admin","date":"29 August 2021","format":false,"excerpt":"Sawiris\u2019 Altus to take a stake in Chilean copper mine: Naguib Sawiris-backed mining firm Altus Strategies has completed the first close on an agreement that would see it take a 0.42% stake in the net smelter return royalty of Chile\u2019s Caserones Copper Mine, the company said in a statement today.\u2026","rel":"","context":"In "Mining"","block_context":{"text":"Mining","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/mining\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/288.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":574875,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/24\/a-blockbuster-gold-discovery-may-have-killed-sawiris-chances-of-nabbing-shalateen-mining\/","url_meta":{"origin":563910,"position":3},"title":"A blockbuster gold discovery may have killed Sawiris\u2019 chances of nabbing Shalateen Mining","author":"enterpriseam admin","date":"24 September 2020","format":false,"excerpt":"A blockbuster gold discovery may have killed Sawiris\u2019 chances of acquiring Shalateen Mining: Naguib Sawiris\u2019 interest in a majority stake in state-owned Shalateen Mining have reportedly hit a roadblock after the company made a blockbuster gold discovery in the Eastern Desert. Oil Ministry sources told Cairo24 that some of Shalateen\u2019s\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":592797,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/06\/sawiris-la-mancha-plans-gbp-6-6-mn-investment-in-altus-strategies\/","url_meta":{"origin":563910,"position":4},"title":"Sawiris\u2019 La Mancha plans GBP 6.6 mn investment in Altus Strategies:","author":"enterpriseam admin","date":"6 November 2019","format":false,"excerpt":"Naguib Sawiris\u2019 La Mancha mining company has signed a letter of intent to invest GBP 6.6 mn in Altus Strategies, the UK-based mining firm announced in a statement. The move would see La Mancha obtain a 34.5% stake in the company for around GBP 6.56 mn. The company would buy\u2026","rel":"","context":"In "Basic Materials + Commodities"","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":555414,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/14\/ora-plans-usd-1-bn-africa-expansion-sawiris-pivots-to-battery-metals\/","url_meta":{"origin":563910,"position":5},"title":"Ora plans USD 1 bn Africa expansion + Sawiris pivots to battery metals","author":"enterpriseam admin","date":"14 November 2021","format":false,"excerpt":"Naguib Sawiris\u2019 Ora Developers is planning to invest at least USD 1 bn over the next five years to increase its footprint in Africa, the Egyptian bn\u2019aire told the National on the sidelines of a real estate expo in Dubai last week. This includes building a seven-star hotel in Senegal\u2026","rel":"","context":"In "REAL ESTATE + MINING"","block_context":{"text":"REAL ESTATE + MINING","link":"https:\/\/enterpriseam.com\/egypt\/category\/real-estate-mining\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/435.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/563910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=563910"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/563910\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/563899"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/563911"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=563910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=563910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=563910"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=563910"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=563910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}