MVV copper and gold mine, in Brazil
Investment adviser to private capital funds Appian Capital Advisory has successfully sold the Mineração Vale Verde (MVV) mine, in Brazil, to Baiyin Nonferrous Group, in China, for $420-million.
Appian realised significant value for its investors by bringing MVV into production and delivering an attractive mid-scale copper and gold openpit mining operation.
MVV began production in May 2021, just three years after Appian’s initial investment.
MVV has since had stable operations and a strong financial performance, as well as a leading safety track record with the 1 050 people working on site.
Last year, the mine produced 18 300 t of copper and 8 200 oz of gold, generating revenue of $84-million from $184-million.
The mine will continue to deliver copper over multiple decades with efficient operations that position the mine in the middle of the industry cost curve.
The sale of MVV marks Appian’s thirteenth successful exit from a project, demonstrating the effectiveness of its operating model in identifying, acquiring and optimising undervalued mining projects.
Appian is able to identify great overlooked assets and use its in-house technical expertise to realise their potential, as well as optimise their value for investors, says CEO Michael Scherb. 