BTG, Agnelli to Launch Mining Operation

BTG Pactual has teamed up with former Vale boss Roger Agnelli to create a new mining company, BTG says, initially investing up to $520m. The new company, known as B&A Mining, is formed from BTG’s private equity arm and Agnelli’s AGN Participacoes, and will focus on the exploration and development of fertilizer, iron ore and copper assets in Brazil, Latin America and Africa. The company says it plans to play a role projects from greenfield stages through to production, partnering with junior and medium-sized miners. Agnelli will be chairman, with former Vale executive and current AGN CEO of natural resources Eduardo Ledsham as CEO. B&A is expected to begin operating within 60 days.