Brazilian Nickel Seeks $100 Million Anchor Backing for $1.4 Billion Piauí Mine
Updated
Updated · Bloomberg · Jun 17
Brazilian Nickel Seeks $100 Million Anchor Backing for $1.4 Billion Piauí Mine
1 articles · Updated · Bloomberg · Jun 17
Summary
Brazilian Nickel is looking for an anchor investor to unlock broader equity funding for its planned $1.4 billion nickel and cobalt project in Piauí, northeastern Brazil.
Rothschild & Co. is advising on global debt and equity financing, while Bradesco BBI is helping raise $100 million from Brazilian investors and funds, CFO Andre Simao said.
The company is also pursuing government funding from Canada, Europe and Brazil's development bank BNDES, widening the financing base for the project.
The fundraising push underscores the scale of capital needed to advance a major new nickel and cobalt mine as developers piece together private and public funding.