Column: Electric dreams turn into a nightmare for battery metals
A sector that was once racing to build new supply has been closing mines and deferring projects as low prices bite into the cost curve.
Canadian mining magnate Robert Friedland recently bought a large piece of real estate in California from renowned American TV host Ellen DeGeneres, according to media reports in the US.
The purchase, as first reported by The Wall Street Journal, was made off the market for a final sale price of $96 million. The land was bought by the now-retired DeGeneres two years ago for $70 million.
The property is located in Carpinteria, near Santa Barbara, a hotbed for celebrity buyers on California’s coast. It spans 10 acres of manicured land, resting atop a bluff overlooking the Pacific, and features an 8,000-square-foot home, according to reports.
This is the second time that Friedland bought one of DeGeneres’ high-end estates. In February, the mining billionaire paid $32 million for a Mediterranean-style estate in Montecito known as Pompeiian Court.
The Ivanhoe Mines chairman himself has been busy with his real estate dealings this year. Recently he sold another Carpinteria property for nearly $50 million.
