B&A Mineracao SA, the venture between Andre Esteves’s Grupo BTG Pactual SA and former head of Vale SA (VALE5) Roger Agnelli, may buy a company in the next three months after purchasing copper and fertilizers assets.
B&A is evaluating five possible deals, Chief Executive Officer Eduardo Ledsham said during an interview in Santiago today. The company is analyzing both listed and private companies, he said, declining to name the targets.
Agnelli and BTG, the Brazilian investment bank led by billionaire Esteves, started B&A last year to invest as much as $520 million in projects including copper, iron ore, phosphate and titanium in Latin America and Africa. The company in March completed the acquisition of Toronto-based Rio Verde Minerals Development Corp. after gaining control of Cuprum Resources Corp., a closely held company with assets in Chile.
“It’s evolving, but we still don’t have anything definitive,” Ledsham said about the possible acquisitions. “We need to deliver on what we bought.”
Cuprum will start implementing a copper project to initiate production in November 2014 with 15,000 metric tons of capacity, Ledsham said during the interview, on the sidelines of CRU’s 12th World Copper Conference. In November, phosphate unit Rio Verde is scheduled to start operating a 150,000-ton-per-year project in northern Brazil, he said.
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