Pamodzi Resources Fund 1 LLP (“PRF”) is a leading mining and resources private equity fund. Managed by Pamodzi Resources Fund Advisors (Proprietary) Limited, PRF has US$1.3 billion available for investment in mining, natural resources and mine-to-market market infrastructure projects in sub-Saharan Africa until October 2010. To date, US$209m of the fund has been invested.
PRF is backed by First Reserve Corporation, the oldest and largest private equity firm specializing in the energy industry, and AMCI Capital, a resources and energy focused private equity venture.
The fund prioritises projects from bankable stage and prefers acquiring a controlling equity interest.
Upon concluding a transaction, we work with the company’s management to revitalise the business, making it more productive, more competitive, and more profitable. This is achieved by streamlining operations, investing in future growth, and growing the top and bottom lines for the benefit of stakeholders.
Recently we entered into agreements with Harmony Gold Company Limited (“Harmony”) in terms of which certain uranium and gold assets of Randfontein Estates Limited, a wholly owned subsidiary of Harmony, were sold into a special purpose vehicle, Rand Uranium, for a purchase consideration of US$348 million. Harmony holds 40% of Rand Uranium in exchange for 60% of the issued share capital of Rand Uranium, the parties agreed that Harmony would receive US$209 million from PRF. | |
