Return to search

RCP buys majority stake in Kazakstan mining project, firm also changes name

Resource Capital Partners, a private equity fund manager, said Thursday that it will invest up to $6 million for a 50.1% stake in the Maxut copper-nickel deposit in Kazakstan. This marks the fund’s first investment. Also, RCP has also changed its name to Centurion Resource Group, effective immediately.

PRESS RELEASE

DENVER, Sept. 19, 2013 /PRNewswire/ — Resource Capital Partners (RCP), a private equity fund management company with offices in Denver and Almaty, Kazakhstan, announced today the Fund’s first investment. The Fund will allocate up to $6 million through a convertible debt instrument to finance a CapEx program for the Maxut copper-nickel deposit in Kazakstan. The developer of the project is BAST LLP. The fund will obtain an equity interest of 50.1%.
Richard Waryn, Managing Director, said, “We are pleased to announce our Fund’s first investment. The Maxut copper-nickel project offers a compelling opportunity for the Fund to acquire a majority stake in a substantially de-risked project with considerable upside potential.”
In addition, the partners of RCP are aware of some minor confusion surrounding their last press release and have therefore determined to change the name of their company to Centurion Resource Group (CRG), effective immediately. CRG is neither associated nor affiliated in any way with Resource Capital Funds, another Denver based group.
ABOUT Centurion Resource Group: CRG is an international private equity fund management group with expertise in natural resources. The partners of CRG collectively have over 100 years of professional experience in private equity and mining investments. CRG has offices in Denver and Almaty, Kazakhstan.