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Investor that took on Exxon targets deals in critical minerals
Investment fund Engine No. 1, known for its battle with Exxon Mobil Corp. and recently taking a surprise stake in Vale SA’s base metals business, is eying more deals in critical minerals.
The company last month agreed to acquire 3% of the Vale unit, giving it an interest in mines producing metals such as copper and nickel that are key for the energy transition. Engine No. 1 says it’s now in talks with other producers, with a focus on those metals and battery ingredient lithium.
Critical metals are coming under the spotlight more as western nations increasingly view supplies as a matter of national security. As rising usage in electric vehicles and renewables stokes fears of shortages in years to come, automakers are rushing to lock in supply and there’s been a surge of mining investment.
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- [Editor:邢亚敏]
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