(MENAFN- News Direct) ACG Acquisition Company Ltd (LSE:ACG) CEO Artem Volynets speaks to Thomas Warner from Proactive London after announcing a $1bn deal to buy two mines in Brazil, backed by some of the biggest names in the mining and automotive sectors.
ACG will buy the Atlantic Nickel nickel sulphide mine in Santa Rita and the Mineraçao Vale Verde (“MVV”) copper mine in Serrote as part of a deal that will see ACG rename itself as "ACG Electric Metals." The deal is being funded with contributions from Swiss mining giant Glencore, multinational automotive manufacturer Stellantis, investment company La Mancha and others.
Volynets explains the rationale behind the deal, highlighting the benefits of operation in Brazil - a country he describes as a "good jurisdiction." He also reveals more about his longer-term vision, saying that "we want to build a much larger company on the basis of the first transaction. Our vision is to build ACG Electric Metals into a $10bn company within five years through the acquisition of similar mines in similar types of geographies."
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