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PRINT THIS PAGE ECP, Truffle Capital acquire Moroccan mining company14/11/2007. Source: AltAssets. 
Private equity firms Emerging Capital Partners and Truffle Capital have jointly acquired 100 per cent of Moroccan mining company Compagnie Miniere de Touissit for $53m. The investment was made through a special purpose vehicle called OSEAD Maroc Mining. ECP made its investment in CMT through its Moroccan Infrastructure Fund. MIF is managed by Morocco Infrastructure Management, a joint venture between ECP and Attijari Invest, and is focused on investment in the infrastructure and industrial sectors.
'ECP sees enormous potential in the African mining industry, and specifically in CMT, said Hurley Doddy, chief operating officer of ECP. 'Despite current market volatility, the underlying fundamentals of the global metals market remain strong. World demand for lead is increasing based on demand from China, while supply remains nearly constant due to the slow renewal rate of these natural resources.'
The CMT transaction represents ECP's third investment in the mining sector, following Anvil Mining (Democratic Republic of Congo) and Mineral Deposits (Senegal).
Copyright © 2007 AltAssets
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