Singapore-based family office takes big stake in bauxite mining company

Marcus Baram
Author Marcus Baram

Marcus Baram is a contributing editor at Crain Currency, where he covers the intersection of finance and politics. Prior to joining Crain Currency, Baram was a staff writer at Fast Company and an editor at Huff Post. He has also written for outlets such as The New York Times, The Atlantic, and Vice. Baram is an expert on economic policy and has a deep understanding of the ways in which politics shapes the global financial system. In his role at Crain Currency, he brings a unique perspective to the complex and ever-evolving world of finance. With his keen analysis and clear writing, Baram helps readers make sense of the important issues impacting the economy today.

Aug 17, 2023
1 year ago
Bauxite

Eagle Eye Asset Holdings, a Singapore-based family office, recently increased its investment in Canyon Resources, a bauxite mining company. 

The $24.7 million investment now gives it a 40% share of the Australian company — whose main asset is Minim Martap, a site that contains over a billion tons of high-grade bauxite, though it still awaits a mining permit, reports MiningNews.net. In total, EEA has invested $70 million in the miner; and its manager, Gaurav Gupta, will be appointed to the board of Canyon.

A June 2022 feasibility study projected that the plan would cost $250 million and result in annual cash flows of $78 million. Bauxite is used to manufacture aluminum and other industrial products, such as abrasives and chemicals.

EEA is also an investor in lithium miner Prospect Resources.

Marcus Baram
Author Marcus Baram

Marcus Baram is a contributing editor at Crain Currency, where he covers the intersection of finance and politics. Prior to joining Crain Currency, Baram was a staff writer at Fast Company and an editor at Huff Post. He has also written for outlets such as The New York Times, The Atlantic, and Vice. Baram is an expert on economic policy and has a deep understanding of the ways in which politics shapes the global financial system. In his role at Crain Currency, he brings a unique perspective to the complex and ever-evolving world of finance. With his keen analysis and clear writing, Baram helps readers make sense of the important issues impacting the economy today.