Why Greenland should join Canada – not the US
In 2008, Greenland voted to transfer more power from the Danish royal government to the local Greenlandic government.
ACG Metals, the copper-focused SPAC (special purchase acquisition company) started by ex-Rusal executive Artem Volynets, has announced the appointment of former US Secretary of State Mike Pompeo as non-executive director.
With the appointment, Pompeo now becomes the seventh member of ACG’s board, which also includes Lidya Mines’ founding CEO Mustafa Aksoy and Hendrik Johannes Faul, former head of Anglo American’s copper business.
Pompeo joins ACG as part of a strategic partnership the firm has signed with Impact Investments LLC, where he is executive chairman. Impact Investments is a US-based advisory that works with some of the world’s leading companies.
As part of this partnership, Impact Investments will advise and assist ACG as it pursues its ambitions as a leading global copper company serving the US and Western markets, the company said.
“We are delighted to welcome such a distinguished statesman and entrepreneur to ACG’s board,” stated Volynets, who serves as chairman and CEO of ACG, having first established the company in 2014 as an advisory and investment management firm.
“Mike, and Impact Investments, will bring valued strategic advice to assist our future growth, including through M&A and strategic partnerships, as we seek to become the leading copper mining company on the LSE.”
“I am very pleased to join ACG, at such an exciting time for the business,” Pompeo stated, highlighting ACG’s progress to date with its $290 million acquisition of the Gediktepe mine in Türkiye last year.
Anchored by the Gediktepe mine, for which an expansion is underway to take its copper production to 25,000 tonnes annually, ACG aims to become one of few London-listed copper producers that could fill the supply gap under Chile’s Antofagasta (LSE: ANTO).
The goal for ACG is to build a mid-tier copper mining company, focusing on assets in North and South America, Europe and Africa, with annual production of 300,000 tonnes, Volynets told Fastmarkets in an interview in July 2024.
Comments