A mining group that has former US secretary of state Mike Pompeo on its board is working on as many as 10 potential deals to buy copper mines as it seeks to become a “western supplier” of the in-demand red metal.
Artem Volynets, chief executive of London-listed ACG Metals and a former executive at Russia’s largest aluminium company Rusal, said he was in talks over a range of assets, many of them in the Tethyan Copper Belt — a vast area that spans from Europe to south-east Asia.
“We’re working hard to do a transaction,” Volynets told the Financial Times. “The strategy is to build up as quickly as possible” and acquire mines that were already producing copper or were close to doing so, he added.
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