Latest news with #Americas-focused
Yahoo
17-06-2025
- Business
- Yahoo
Macquarie Asset Management Closes Macquarie Infrastructure Partners VI With Over $US8 Billion of Total Fund and Co-Investment Commitments
Successful MIP VI final close, with over US$6.8 billion of total Fund commitments, as well as another US$1.3 billion of closed and funded co-investment in MIP VI portfolio companies to date Approximately half of MIP VI Fund commitments from North American investors, higher than any previous Macquarie Infrastructure Partners vintage Over 70% of Fund commitments from investors that have previously invested with Macquarie Asset Management's Real Assets division NEW YORK, June 17, 2025--(BUSINESS WIRE)--Macquarie Asset Management today announced the final close of Macquarie Infrastructure Partners VI ("MIP VI" or the "Fund"), with over $US8 billion of total commitments, including over US$6.8 billion of Fund commitments as well as an additional US$1.3 billion of closed and funded co-investment in MIP VI portfolio companies to date. The co-investment completed to date alongside MIP VI is expected to increase further and builds on approximately $US8 billion of closed co-investment across the previous three MIP vintages. Macquarie Infrastructure Partners is Macquarie Asset Management's series of Americas-focused, unlisted infrastructure funds. MIP VI continues the investment philosophy and approach of the MIP platform, which has the longest track record of any infrastructure manager investing in the Americas region. This track record now spans more than 22 years of infrastructure investment expertise in the region and includes more than 55 portfolio company investments and 26 realizations. Consistent with prior MIP vintages, the Fund is focused on high-quality investments across the transportation, digital infrastructure, utilities and energy, and waste infrastructure sectors. MIP VI's investments to date include Diamond Infrastructure Solutions, SwyftFiber, TraPac Terminals, Montreal Metropolitan Airport and Coastal Waste & Recycling. MIP VI has attracted commitments from a diverse group of returning and new investors from around the world, including public and private pension plans, insurance companies, sovereign wealth funds, and investment managers. The Fund saw strong support from its existing investor base, with more than 70% of total commitments coming from investors that have previously invested with Macquarie Asset Management's Real Assets division. Notably, half of the fund commitments were from North American investors, marking the highest proportion of any MIP vintage to be sourced within North America. "We are grateful for the confidence that MIP VI investors have placed in us," said Leigh Harrison, Head of Real Assets for Macquarie Asset Management. "MIP VI's successful capital raise demonstrates investors' ongoing commitment to Macquarie Asset Management's expertise in infrastructure investment and our strong investment track record that spans more than 30 years around the world." "Our clients remain focused on allocating to infrastructure, due to the sector's ability to deliver stable returns as well as provide inflation protection and portfolio diversification benefits," said Karl Kuchel, CEO of Macquarie Infrastructure Partners. "We greatly appreciate investors' ongoing support, which recognizes our team's sector expertise, long-standing experience, and operational capabilities. This allows MIP to continue to access and develop a broad range of high-quality investment opportunities, partner with management teams, support portfolio company growth and create long-term value for our investors." Macquarie Asset Management is a pioneer in infrastructure investment and as one of the largest investors in real assets, Macquarie Asset Management's Real Assets division manages approximately $US209.9 billion across its infrastructure, green investments, and natural assets platforms.1 About Macquarie Asset Management Macquarie Asset Management is a global asset manager, integrated across public and private markets. Trusted by institutions, governments, foundations and individuals to manage approximately $US588.1 billion in assets, we provide a diverse range of investment solutions including real assets, real estate, credit and equities & multi-asset. Macquarie Asset Management is part of Macquarie Group, a diversified financial group providing clients with asset management, finance, banking, advisory, and risk and capital solutions across debt, equity and commodities. Founded in 1969, Macquarie Group employs over 20,000 people in 34 markets and is listed on the Australian Securities Exchange. All figures as at 31 March 2025 unless otherwise noted. Important Notices (Macquarie Asset Management): None of the entities noted in this media release is an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia) and the obligations of these entities do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 (Macquarie Bank). Macquarie Bank does not guarantee or otherwise provide assurance in respect of the obligations of these entities. In addition, if this media release relates to an investment (a) each investor is subject to investment risk including possible delays in repayment and loss of income and principal invested and (b) none of Macquarie Bank or any other Macquarie Group company guarantees any particular rate of return on or the performance of the investment, nor do they guarantee repayment of capital in respect of the investment. 1 As at 31 March 2025. View source version on Contacts Lee +1-347-302-3000Rachel +1-310-800-4512
Business Wire
17-06-2025
- Business
- Business Wire
Macquarie Asset Management Closes Macquarie Infrastructure Partners VI With Over $US8 Billion of Total Fund and Co-Investment Commitments
NEW YORK--(BUSINESS WIRE)--Macquarie Asset Management today announced the final close of Macquarie Infrastructure Partners VI ('MIP VI' or the 'Fund'), with over $US8 billion of total commitments, including over US$6.8 billion of Fund commitments as well as an additional US$1.3 billion of closed and funded co-investment in MIP VI portfolio companies to date. The co-investment completed to date alongside MIP VI is expected to increase further and builds on approximately $US8 billion of closed co-investment across the previous three MIP vintages. 'Our clients remain focused on allocating to infrastructure, due to the sector's ability to deliver stable returns as well as provide inflation protection and portfolio diversification benefits,' said Karl Kuchel, CEO of Macquarie Infrastructure Partners. Share Macquarie Infrastructure Partners is Macquarie Asset Management's series of Americas-focused, unlisted infrastructure funds. MIP VI continues the investment philosophy and approach of the MIP platform, which has the longest track record of any infrastructure manager investing in the Americas region. This track record now spans more than 22 years of infrastructure investment expertise in the region and includes more than 55 portfolio company investments and 26 realizations. Consistent with prior MIP vintages, the Fund is focused on high-quality investments across the transportation, digital infrastructure, utilities and energy, and waste infrastructure sectors. MIP VI's investments to date include Diamond Infrastructure Solutions, SwyftFiber, TraPac Terminals, Montreal Metropolitan Airport and Coastal Waste & Recycling. MIP VI has attracted commitments from a diverse group of returning and new investors from around the world, including public and private pension plans, insurance companies, sovereign wealth funds, and investment managers. The Fund saw strong support from its existing investor base, with more than 70% of total commitments coming from investors that have previously invested with Macquarie Asset Management's Real Assets division. Notably, half of the fund commitments were from North American investors, marking the highest proportion of any MIP vintage to be sourced within North America. 'We are grateful for the confidence that MIP VI investors have placed in us,' said Leigh Harrison, Head of Real Assets for Macquarie Asset Management. 'MIP VI's successful capital raise demonstrates investors' ongoing commitment to Macquarie Asset Management's expertise in infrastructure investment and our strong investment track record that spans more than 30 years around the world.' 'Our clients remain focused on allocating to infrastructure, due to the sector's ability to deliver stable returns as well as provide inflation protection and portfolio diversification benefits,' said Karl Kuchel, CEO of Macquarie Infrastructure Partners. 'We greatly appreciate investors' ongoing support, which recognizes our team's sector expertise, long-standing experience, and operational capabilities. This allows MIP to continue to access and develop a broad range of high-quality investment opportunities, partner with management teams, support portfolio company growth and create long-term value for our investors.' Macquarie Asset Management is a pioneer in infrastructure investment and as one of the largest investors in real assets, Macquarie Asset Management's Real Assets division manages approximately $US209.9 billion across its infrastructure, green investments, and natural assets platforms. 1 About Macquarie Asset Management Macquarie Asset Management is a global asset manager, integrated across public and private markets. Trusted by institutions, governments, foundations and individuals to manage approximately $US588.1 billion in assets, we provide a diverse range of investment solutions including real assets, real estate, credit and equities & multi-asset. Macquarie Asset Management is part of Macquarie Group, a diversified financial group providing clients with asset management, finance, banking, advisory, and risk and capital solutions across debt, equity and commodities. Founded in 1969, Macquarie Group employs over 20,000 people in 34 markets and is listed on the Australian Securities Exchange. All figures as at 31 March 2025 unless otherwise noted. Important Notices (Macquarie Asset Management): None of the entities noted in this media release is an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia) and the obligations of these entities do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 (Macquarie Bank). Macquarie Bank does not guarantee or otherwise provide assurance in respect of the obligations of these entities. In addition, if this media release relates to an investment (a) each investor is subject to investment risk including possible delays in repayment and loss of income and principal invested and (b) none of Macquarie Bank or any other Macquarie Group company guarantees any particular rate of return on or the performance of the investment, nor do they guarantee repayment of capital in respect of the investment. 1
West Australian
12-06-2025
- Business
- West Australian
EV Resources locks in historical antimony project in Mexico
EV Resources has officially sealed a 70 per cent stake in its high-grade Los Lirios antimony mine in Oaxaca, Mexico. The company now aims to fast-track the critical minerals project towards mine development thanks to a string of recent value-accretive project divestments. The company has executed a binding assignment of mining rights over the 1552-hectare project, which includes three mining concessions. The three historic open pits and multiple underground workings previously churned out commercial-grade direct shipping ore (DSO). EVR owns 70 per cent of a new joint venture entity that holds the project. It will now look to leverage proceeds from several recent shrewd divestments to fast-track development at Los Lirios, positioning itself to capitalise on an skyrocketing antimony market amid global, Chinese-controlled supply constraints. EVR will now steer the ship at Los Lirios, providing management and capital to ramp up production to a targeted 300 tonnes DSO per day. The company is wasting no time, with 30-kilogram samples already undergoing ore characterisation and mineralogy analysis. It expects to soon receive the results. The samples will feed into recovery test work focused on gravity methods, which have proven effective for antimony in Mexico. EVR is also in talks with owners of permitted plant sites to establish a pilot processing plant. Its aggressive timeline will look to cash in on its staggeringly high-grade ore, which includes stockpile assays as high as 29.17 per cent stibnite – the primary antimony sulphide ore. Fuelling this ambitious push are the proceeds from the company's recent portfolio rationalisation, including the recent blockbuster sale of its Yanamina gold-silver project in Peru to TSX-listed Daura Gold for up to US$6 million (A$9.3M). Similarly, EVR recently disposed of its Coyote Creek antimony project in Utah to Trigg Minerals for a handy $450,000 in cash and shares, delivering a tidy profit on an asset acquired for less than $150,000 just one month earlier. The sale of the La Cienega copper project in Arizona to Magnum Mining and Exploration, with a 2 per cent royalty on future production, further bolsters the company's future earnings potential. The savvy divestments have armed EVR with a war chest to accelerate development at Los Lirios and its Parag copper-molybdenum porphyry project in Peru. The company's strengthened cash position allows it to fund critical exploration and development activities, including sampling, trenching and drilling programs, which are set to kick off at Los Lirios early next year. EVR is eyeing strategic partnerships to unlock Parag's massive porphyry-style potential, after a previous drilling program delivered some eye-popping molybdenum intersections such as 18 metres running 1.7 per cent copper and 0.4 per cent moly from just 11m. As Los Lirios shapes up as a cornerstone asset for the company's Americas-focused strategy, EVR can now channel its divestment proceeds to fast-track its antimony supply. That could also help relieve the unprecedented market pressure pushing the price of the critical metal to a massive US$60,000 (A$92,000) per tonne. Is your ASX-listed company doing something interesting? Contact:
Yahoo
06-06-2025
- Business
- Yahoo
Pan American Silver Hits 52-Week High: How to Play the Stock?
The Pan American Silver Corp. PAAS stock hit a 52-week high of $28.88 yesterday before closing the session a tad lower at $28.60. The stock jumped 7.6% yesterday, fueled by silver prices climbing above $36 per ounce, the highest levels since February 2012. The rise was driven by soft U.S. economic data and a dovish stance from the Federal Reserve, boosting safe-haven demand. The rally lifted other silver miners as well, with Endeavour Silver Corp. EXK and Hecla Mining Company HL gaining 7.6% and 5.6%, respectively, yesterday. Year to date, PAAS shares have gained 41.5%, outpacing the industry's 26.1% growth. In comparison, the Basic Materials sector has risen 9.2%, while the S&P 500 has inched up 0.9%. Image Source: Zacks Investment Research Pan American Silver has also outscored Endeavour Silver's and Hecla Mining Company's year-to-date gains of 31.4% and 24.4%, respectively. Image Source: Zacks Investment Research Image Source: Zacks Investment Research The Pan American Silver stock is trading above its 50-day and 200-day moving averages, indicating solid upward momentum and price stability. This reflects a positive market sentiment and confidence in the company's financial health and long-term prospects. While this rally may tempt investors to jump in, it is important to assess the underlying drivers and its sustainability, as well as the company's growth prospects and potential risks, before making any investment decision. Solid Trend in Silver & Gold Prices: Silver prices have gained 25% year to date, supported by several factors like rising economic and geopolitical uncertainties, as well as solid demand amid expectations of a tight supply. Gold has also rallied 28% year to date, riding on the escalating tariff tensions and geopolitical uncertainties. Weak U.S. economic data lifted both gold and silver safe-haven demand, pushing silver to $36.20 and gold to around $3,370 per ounce. Per the Silver Institute, the silver market is expected to record another deficit in 2025 (117.6 million ounces) for the fifth consecutive year, which bodes well for silver prices. This demand-supply imbalance holds good for gold. Apart from this, gold prices are likely to continue to gain, aided by increased purchases by central banks, hopes of interest rate cuts and geopolitical tensions. Pending Acquisition of MAG Silver: Pan American Silver recently inked a deal to acquire MAG Silver Corp. MAG for $2.1 billion. Through this move, PAAS will gain access to the large-scale, high-grade Juanicipio mine in Mexico, in which MAG Silver has a 44% stake. The company sees growth opportunities through the significant exploration potential at Juanicipio, as well as MAG Silver's Deer Trail and Larder deal, expected to close in the second half of 2025, will position Pan American Silver as a leading Americas-focused silver producer. It will add 58 million ounces of silver to its proven and probable reserves. Juanicipio is expected to produce 14.7-16.7 million ounces of silver in 2025 (or 6.5-7.3 million ounces on a 44% basis). It is expected to generate a free cash flow of $200 million in 2025 (on a 100% basis). Solid Q1 Results: PAAS witnessed a 28.6% year-over-year increase in revenues to $773 million, attributed to higher gold and silver prices. Lower costs and higher metal prices resulted in a record $250.8 million in mine operating earnings and $112.6 million in free cash flow. Adjusted earnings per share were 42 cents, a significant improvement from earnings of 1 cent in the year-ago quarter. Stronger Output Expected in 2H25: Silver production was 5 million ounces and gold output was at 182.2 thousand ounces in the first quarter. The company remains on track to meet its 2025 guidance of 20-21 million ounces of silver and 735,000-800,000 ounces of gold, with output expected to rise in the second half of the year. Silver production is anticipated to ramp up as mining moves to higher-grade ore zones at Cerro Moro. Gold output is also forecast to climb later in the year, supported by higher grades at Cerro Moro and Minera Florida; increased throughput at Minera Florida; and leach sequencing at Shahuindo, resulting in higher recovery rates. The Zacks Consensus Estimate for Pan American Silver's earnings for 2025 and 2026 has moved up 20% and 11%, respectively, over the past 90 days. (Find the latest earnings estimates and surprises on Zacks Earnings Calendar.) Image Source: Zacks Investment Research The consensus mark for 2025 earnings is pegged at $1.47, suggesting a year-over-year surge of 86%. The estimate for 2026 of $1.89 indicates an increase of 28.7%. Image Source: Zacks Investment Research PAAS has solidified its position as a leading precious metal producer in the Americas with a diversified asset base. The company has been rationalizing its portfolio following the Yamana acquisition (in 2023), strategically investing in its producing mines while advancing organic opportunities. Notable achievements include ventilation upgrades at its La Colorada silver mine in Mexico, which enabled a 51% increase in silver production and an 18% reduction in all-in-sustaining costs (AISC) in the second half of 2024 compared with the first half. PAAS completed the construction of a new filter plant and filter-stack tailings storage facility at its Huaron mine in Peru, providing additional capacity while enhancing environmental performance. At the Timmins operation in Canada, the company completed the construction of a paste backfill plant at the Bell Creek mine. That plant is now fully operational and is expected to provide enhanced ground stability and increased mineral resource recovery. Pan American Silver remains focused on progressing initiatives to further increase shareholder value, including the optimization study for Jacobina and the development of the La Colorada Skarn. Pan American Silver owns the Escobal mine in Guatemala, which is regarded as one of the world's top silver assets. Prior to its suspension in 2017, the mine delivered three consecutive years of annual output of around 20 million ounces, with AISC below $10 per ounce. Operations were halted following a ruling by Guatemala's constitutional court, which mandated that the ministry of energy and mines complete an ILO 169 consultation with the Xinka indigenous people before reinstating the mining license. Escobal remains on care and maintenance, with no clear timeline for the consultation's conclusion or a potential restart of operations. PAAS is currently trading at a forward 12-month price-to-earnings multiple of 17.45X, a premium to the industry average of comparison, Endeavour Silver offers a more discounted valuation at 14.65X. Meanwhile, Hecla Mining trades at a much higher multiple of 38.26X. Pan American Silver is well-positioned to capitalize on the ongoing rally in gold and silver prices, along with its strong production outlook. The planned acquisition of MAG Silver and continued investment in growth initiatives strengthen its long-term prospects. However, uncertainty around the restart of the Escobal mine remains a risk. Existing shareholders may consider holding their positions to benefit from PAAS's long-term potential and exposure to precious metals. Given the stock's premium valuation, new investors may prefer to wait for a better entry point. The stock's Zacks Rank #3 (Hold) supports our thesis. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Hecla Mining Company (HL) : Free Stock Analysis Report Pan American Silver Corp. (PAAS) : Free Stock Analysis Report Endeavour Silver Corporation (EXK) : Free Stock Analysis Report MAG Silver Corporation (MAG) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-05-2025
- Business
- Yahoo
Pan American Silver to acquire MAG Silver in $2.1bn deal
Pan American Silver has signed a definitive agreement with MAG Silver to acquire all its issued and outstanding common shares via a court-approved plan of arrangement for a total consideration of approximately $2.1bn. Under the transaction, MAG shareholders will receive $500m in cash from Pan American's $923m cash balance and 0.755 Pan American shares for each MAG share. The offer represents a 21–27% premium over the closing and 20-day volume-weighted average price of MAG's shares as of 9 May 2025. Post-transaction, Pan American is expected to issue an aggregate of 60 million common shares to MAG shareholders, while MAG shareholders will hold roughly 14% of Pan American's fully diluted shares, gaining exposure to a more diversified and growth-focused silver and gold producer. The acquisition will integrate MAG's 44% interest in the high-grade Juanicipio silver mine in Zacatecas, Mexico, into Pan American's portfolio. Fresnillo owns the remaining 56% stake in the Juanicipio joint venture. The mine is expected to produce between 14.7 million ounces (moz) and 16.7moz of silver in 2025. The transaction will also bolster Pan American's position as one of the world's leading silver producers and boost the company's free cash flow generation, while delivering significant exploration upside potential. Pan American president and CEO Michael Steinmann said: 'Our acquisition of MAG brings into Pan American's portfolio one of the best silver mines in the world. Juanicipio is a large-scale, high-grade, low-cost silver mine that will meaningfully increase Pan American's exposure to high margin silver ounces. 'Furthermore, we see future growth opportunities through the significant exploration potential at Juanicipio as well as MAG's Deer Trail and Larder properties. This strategic acquisition further solidifies Pan American as a leading Americas-focused silver producer.' For MAG shareholders, the deal offers de-risking benefits, financial strength, increased liquidity and expanded market presence. MAG's directors and executive officers have agreed to vote in favour of the deal, which is expected to close in the second half of 2025, subject to customary conditions and regulatory approvals. MAG president and CEO George Paspalas said: 'Through the acquisition of our interest by Pan American – a respected leader in the global precious metals industry – our shareholders will participate in an exciting future defined by operational excellence, substantial exploration potential and strong financial stewardship with significant portfolio exposure.' In October 2024, Unico Silver completed the acquisition of the Joaquin Silver District in Argentina from Pan American Silver. "Pan American Silver to acquire MAG Silver in $2.1bn deal" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
