{"id":566876,"date":"2021-07-26T13:57:46","date_gmt":"2021-07-26T13:57:46","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/26\/sawiris-la-mancha-transforms-into-mining-fund\/"},"modified":"2021-07-26T13:57:46","modified_gmt":"2021-07-26T13:57:46","slug":"sawiris-la-mancha-transforms-into-mining-fund","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/26\/sawiris-la-mancha-transforms-into-mining-fund\/","title":{"rendered":"Sawiris\u2019 La Mancha transforms into mining fund"},"content":{"rendered":"

<\/a> Sawiris-run La Mancha is transforming itself into a USD 1.4 bn mining fund <\/strong>that includes all of La Mancha\u2019s current gold mining assets as well as a USD 100 mn contribution from an unnamed strategic investor, the firm said in a press release (pdf)<\/a>. The announcement came as La Mancha announced a USD 1.4 bn first close, with Chairman Naguib Sawiris saying \u201ctransitioning to a fund structure and welcoming new investors is timely when we are seeing [potential targets] in a gold mining sector which is fragmented and needs further consolidation.\u201d<\/p>\n

What assets has La Mancha contributed? <\/strong>Stakes in Endeavour Mining, Golden Star and Altus Strategies, all listed mining players.<\/p>\n

What\u2019s the investment strategy going forward? La Mancha may look at stakes in smaller mining outfits <\/strong>with \u201cstrong managerial and geological potential to implement a 3-to-5-year value creation strategy.\u201d Gold and other precious metals remain at the core of the company\u2019s strategy, but it will \u201calso also have the flexibility to invest in EV battery metals<\/strong>.\u201d<\/p>\n

Local tie-in, beyond Naguib\u2019s name: <\/strong>Sawiris-backed Altus Strategies subsidiary Akh Gold landed four gold exploration licenses for nine blocks in the Eastern Desert earlier this year<\/a> in a gold tender by the Mineral Resources Authority, following amendments<\/a> to the Mineral Resources Act that Sawiris said were \u201cmore favorable and more realistic and would attract foreign investments to the sector.\u201d La Mancha acquired<\/a>a 35% stake in Altus in February 2020.<\/p>\n","protected":false},"excerpt":{"rendered":"

Sawiris-run La Mancha is transforming itself into a USD 1.4 bn mining fund that includes all of La Mancha\u2019s current gold mining assets as well as a USD 100 mn contribution from an unnamed strategic investor, the firm said in a press release (pdf). The announcement came as La Mancha announced a USD 1.4 bn […]<\/p>\n","protected":false},"author":1,"featured_media":566877,"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":[7305],"tags":[317,633,356,7093,3689,373,2065],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-566876","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commodities","tag-commodities","tag-enterprisepm","tag-evs","tag-gold","tag-la-mancha","tag-mining","tag-naguib-sawiris","wpautop","entry"],"acf":{"mongo_id":"b65943c0-3188-4aee-8b65-4ed39716e7fc","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/7\/460.jpg","photo_position":"above","related_issue":[566868],"teaser":"","voice_url":""},"yoast_head":"\nSawiris\u2019 La Mancha transforms into mining fund - 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\/26\/sawiris-la-mancha-transforms-into-mining-fund\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sawiris\u2019 La Mancha transforms into mining fund\" \/>\n<meta property=\"og:description\" content=\"Sawiris-run La Mancha is transforming itself into a USD 1.4 bn mining fund that includes all of La Mancha\u2019s current gold mining assets as well as a USD 100 mn contribution from an unnamed strategic investor, the firm said in a press release (pdf). The announcement came as La Mancha announced a USD 1.4 bn […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/26\/sawiris-la-mancha-transforms-into-mining-fund\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-26T13:57:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/460.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\/26\/sawiris-la-mancha-transforms-into-mining-fund\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/26\/sawiris-la-mancha-transforms-into-mining-fund\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Sawiris\u2019 La Mancha transforms into mining fund\",\"datePublished\":\"2021-07-26T13:57:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/26\/sawiris-la-mancha-transforms-into-mining-fund\/\"},\"wordCount\":242,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/26\/sawiris-la-mancha-transforms-into-mining-fund\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/460.jpg?fit=%2C&ssl=1\",\"keywords\":[\"commodities\",\"EnterprisePM\",\"EVs\",\"gold\",\"La Mancha\",\"mining\",\"Naguib Sawiris\"],\"articleSection\":[\"Commodities\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/26\/sawiris-la-mancha-transforms-into-mining-fund\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/26\/sawiris-la-mancha-transforms-into-mining-fund\/\",\"name\":\"Sawiris\u2019 La Mancha transforms into mining fund - 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The company announced this\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/280.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":566876,"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":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":566876,"position":2},"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":566876,"position":3},"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":558834,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/29\/sawiris-likes-chilean-copper\/","url_meta":{"origin":566876,"position":4},"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":572701,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/06\/naguib-sawiris-expects-to-close-talks-with-egypts-govt-on-shalateen-stake-purchase-within-weeks\/","url_meta":{"origin":566876,"position":5},"title":"Naguib Sawiris expects to close talks with Egypt\u2019s gov\u2019t on Shalateen stake purchase within weeks","author":"enterpriseam admin","date":"6 July 2020","format":false,"excerpt":"M&A WATCH- Naguib expects to close talks on Shalateen stake purchase within weeks: Naguib Sawiris is still in talks with the government to buy a 51% stake in state-owned Shalateen Mining and expects negotiations to wrap in the coming weeks, he tells Hapi Journal. 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