A group of investors led by Jan Kulczyk, Poland’s richest man, and Qatar’s sovereign wealth fund are bankrolling a $700m company investing in mineral exploration and extraction in Africa and South America, said a person close to the transaction.
The project, set to be announced this week, is expected to be managed by Lloyd Pengilly and Roger Kennedy, well-regarded bankers and minerals resources experts who left JPMorgan this year to work on their own projects. “They are supposed to be the rainmakers and the managers,” said a person familiar with the matter.
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