Blackstone Group has solidified their position as one of the largest investors in the rare metal space, confirming an option to purchase a major nickel asset. The asset in question is a prominently placed nickel-producing operation located in Canada.
The blackstoneGroup confirmed the acquisition yesterday, stating that they had secures a purchase option utilizing their asset structuring capabilities. The group highlighted its acquisitions in the natural resources sector, identifying the nickel asset in question as a major gain.
The asset in question is located in the Sudbury Basin and boasts a suite of nickel deposits as well as other precious metals. The operation is expected to provide a steady supply of nickel to global markets and should make a notable contribution to Blackstone.
The exact terms of the news asset acquisition are yet to be disclosed, however, Blackstone reiterated its commitment to bringing long-term sustainability to natural resources in its acquisition statement. The current trajectory of the project is expected to sustain Nickel production for at least ten years with estimated production increases every year.
The stakes are high in this deal, as Nickel is one of the most sought after metals on the market right now. With its unique and valuable properties, Nickel is an essential component to many industrial processes including steel-making, so securing a supply is a must for any major investor.
Blackstone’s acquisition of the wealth of Nickel deposits will no doubt be seen as a shrewd move, as Nickel is in high demand, offering significant returns for the company. With Nickel trading at record high prices, the Blackstone Group has secured a major asset and set themselves on the path forgrowth.
