Veteran-led PE firms prepare to snap up mining assets

Senior investment bankers say a new breed of private equity funds run by mining's old guard are emerging as keen buyers of resource assets.

Buyers have proved elusive for billions of dollars of unwanted assets the major miners have put on the block, with traditional private-equity firms kicking the tyres hard this year but shying away on execution. Now local bankers say an alternative class of PE fund is sniffing around the sector - firms run by mining veterans that are preparing to make cyclical plays.

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