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(Kitco News) - Vision Blue Resources announced today it raised over US$650 million.
The company said it overshot its $500m fundraising target.
With the fuinds the company plans to expand its portfolio to five strategic investments in companies involved in graphite, vanadium, silicon metal, tin and rare earths.
"Since our first investment in early 2021, we have seen a growing realisation amongst governments, investors, industry and others that the world is facing a major shortfall in the supply of metals and minerals needed to enable the transition to clean, low carbon energy production and usage," said Vision Blue founder Mick Davis. "VBR is already playing an important role in accelerating the supply of these critical commodities by supporting the rapid and responsible development of new sources of supply that have the potential to become globally significant.
"The interest from new investors seeking exposure to VBR's strategy of accessing critical minerals has been beyond our expectations. We are now well placed to expand our portfolio of strategic investments and capitalise on the opportunities which we have already identified."
Vision Blue Resources portfolio includes NextSource Materials (TSX: NEXT), Cornish Metals (TSX-V: CUSN) and Ferro-Alloy Resources (LSE: FAR).
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