Hermes-Sojitz investment fund resigns as Sinopac shareholder

Hermes-Sojitz investment fund resigns as Sinopac shareholder

Press Release ( - Tsim Sha Tsui, Kowloon, Hong Kong - Oct 30, 2017 - Having sold 5.7 percent of Sinopac shares in the second quarter 2017, Hermes-Sojitz, an international direct investments fund, resigned from the company’s shareholders.

Previously in 2016 Hermes-Sojitz closed a $340 million sale of 60.3 percent of its Sinopac stake. The company is engaged in development and production of rare-earth metals in Africa.

Development and extraction of rare-earth metals is one of the most promising and profitable industries. Rare earths occupy 17 positions of the periodic table. They are extensively used in production of a wide range of mass-market high-tech goods, such as cell phones, flat-screen TV’s and microwaves. The demand for rare-earth metals increases by 10-15 per cent yearly.

Naoki Matsumura, Chairman of Hermes-Sojitz’s Board of Directors: “More than half of the world’s magmatic carbonatite deposits are located across Africa. Carbonatites are known for containing anomalous concentrations of rare-earth elements, thus being the best raw material for mining. In this respect Africa’s resources of rare-earths is unparalleled.”

Hermes-Sojitz has been developing various projects in Africa for more than 5 years. The Fund invests in exploitation and extraction of mineral resources, food processing industry, and property development. 18 residential buildings of business and premium class were commissioned in 2016. Hermes-Sojitz representatives believe that closing another profitable deal would facilitate closer links between the Fund and local missions, thus enhancing its influence in Africa.

Check the link for more information about Hermes-Sojitz


CATEGORIES : Business News Deals Mining


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