Mubadala invests in metal concentrate trading platform | Reuters
Abu Dhabi's sovereign wealth fund Mubadala has invested in Swiss-based Open Mineral to help scale up its online metal concentrate exchange that allows mining companies and smelters to trade directly and cut out middlemen.
Open Mineral has raised $33 million, the company said in a release on Thursday.
Mubadala Investment Company is the lead investor.
Statkraft and Lingfeng Capital are the other new investors joining existing investors Xploration Capital and Emerald Technology Ventures.
Miners and smelters post bids and offer and agree deals on the platform and Open Mineral facilitates trade execution for which it earns fees.
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