Year to date the mining sector has raised a miserable $400 million down from a high of $4.6 billion in 2012, according to data compiled by Preqin and released today.
Preqin, a reesearch firm that analyzes data for the alternative asset industry, looked at private equity-style funds targeting assets in the following industry sectors: energy (including oil & gas); agriculture/farmland; metals and mining; and timberland and water.
The drop off for the mining sector from just a year ago is huge. The mining sector was able to raise well above $2 billion in 2014.
The authors of the study blame the China slowdown and general investor caution. However, conditions may be better in 2016:
There are currently 11 metals & mining funds in market targeting $3.2bn in aggregate capital. Some of these funds may be extending the period before holding a final close with the aim of attracting additional investors. At present, 38% of investors on Natural Resources Online that have indicated their position either have plans for, or are considering, investments in metals & mining over the next 12 months, suggesting that fundraising may prove more positive if market conditions improve in 2016.
Outside of mining, the overall natural resources sector looked bright, which is on course to match the record $61bn raised by such funds in 2013.
The post A brutal year for mine financing explained in just one chart appeared first on MINING.com.
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