The Company invests across the commodities spectrum, with a primary focus on underperforming assets, businesses that lack direction, are poorly managed, stranded or distressed. The Board seeks to develop strategic platforms in pursuit of consolidation, vertical integration and turn-around opportunities as well as expansion projects. The Company targets businesses that hold mines, smelters, refineries and processing plants with a strong preference for brown-fields opportunities, although businesses with attractive development opportunities will be considered.
Whilst the Company has the ability to gear its balance sheet, it is intended that each business will be ring-fenced and that the funding of each Investment will be based on the strength of such Investment’s balance sheet and/or cash flow potential, thereby increasing the insolvency remoteness of each Investment, unless such excess Investment is approved by Investors by Ordinary Resolution.
The Company is responsible for its own investment management activity as it has not elected to continue with the appointment of an external investment manager. The Investment Policy has been set by the Board, though the Executive Directors have been appointed to facilitate the execution of that policy.