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Pamodzi targets coal, iron ore investments Posted: Tue, 30 Oct 2007 [miningmx.com] -- FOR A MAN who built a career financing high-profile gold industry transactions, Pamodzi Resources Fund’s chief investment officer, Gerard Kemp, is not much interested in dabbling in gold under his new remit. In fact, the yellow metal is conspicuously absent when he numbers coal, iron ore and base metals as the chief targets for the R10bn private equity fund unveiled in August. He’s also keen to draw a line in the sand between Pamodzi Investment Holdings – which controls the Johannesburg listed Pamodzi Gold – and the fund. “Pamodzi helped attract the capital to South Africa, but they are not the same thing,” says Kemp who was scheduled to jet off to a coal conference in Italy. “Pamodzi Resources Fund has offshore shareholders,” he says. One of them is AMCI, a privately held firm that built its wealth investing in the world’s coal industry. Kemp confirms his fund is angling for potential coal investments, and iron ore. The fund is also looking actively in Africa: “We expect to make our first investment before the end of the year,” says Kemp. “It’s not what you’ll be expecting,” he adds. That could mean a potential investment in infrastructure, which also falls under the mandate of the fund. Could this be a public/private partnership developing, say, Beira’s export facilities in Mozambique, which is host to a number of coal and heavy mineral developments, most notably CVRD’s Moatize project? Kemp, formerly head of resources banking at Rand Merchant Bank, is keeping his cards close to his chest but he does express some frustration regarding the scope of potential investments. Click Here to subscribe to our daily newsletter
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