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TMP Holdings is harnessing the power of critical metals like nickel and cobalt to fuel Saudi Arabia's ambitious infrastructure and decarbonization initiatives
US firm TMP Holdings is staking a portion of its investment strategy on the growing potential for metal-intensive infrastructural and decarbonization initiatives in Saudi Arabia, having entered into a memorandum of understanding to support the critical metals supply chain in the country.
TMP has committed millions of investment capital to Saudi Arabia’s National Industrial Development Corp (NIDC) to support the infrastructure and supply of critical minerals – including nickel, cobalt, copper and platinum-group metals – to that country as it implements ambitious non-oil-sector growth plans, the company said.
The company plans to build a warehouse infrastructure and logistics network to support the critical minerals supply chain in Saudi Arabia.
Beverly Hills, California-based TMP cut its teeth in metals following its landmark acquisition of multi-metal miner Nornickel’s US arm last summer.
Nornickel is the world’s largest producer of nickel, a critical battery material whose supply has been deemed essential for the electrification of motor vehicles – one key facet of the drive to decarbonize the Western Hemisphere.
The acquisition of Nornickel’s US branch puts the company at an advantage to supply these critical metals at a low cost and high quality, specifically nickel and cobalt sulfate.
The company’s focus is broad, including investments in blockchain technology, entertainment, financial services, logistics, real estate, software and telecoms. Though it has a global presence, it has focused primarily on Eastern Europe and Central Europe.
When asked what prompted a segue into metals and mining markets, TMP founder and chairman Raymond F. Staples was keen to highlight the role that decarbonization plays in the future of the industry and how the firm is committed to investing in that sphere.
“I am very committed to helping the environment through decarbonizing the planet by getting involved in metals such as nickel, cobalt, lithium and platinum group metals,” he said.
He envisions long-term growth for these metals, particularly in the Middle East and Asia.
“It is in these regions of the world that we still must build a significant amount of infrastructure that the United States already has in place that we take for granted,” Staples said.
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- [Editor:kangmingfei]
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