Important. For Qualified Institutional Buyers only. Marketing material. Not an offer or solicitation. Any potential offering would rely on Rule 144A in the United States and Regulation S outside the United States, subject to eligibility, verification, and NDA. Securities activities, where applicable, are conducted under a chaperone arrangement with a U.S. registered broker dealer.
Africa Smelting & Refining Fund
Strategy to finance and operate selective smelting and hydromet refining tied to contracted feed, firm power, and bankable offtake. Focus metals are copper, cobalt, nickel, lithium, and graphite. Core jurisdictions are Zambia with DRC feed, Tanzania, Zimbabwe, Namibia, and Morocco. The mandate prioritizes cash flow control, quality assays, and enforceable security.
Thesis
- Backlogs of concentrates and policy push for local processing
- Hydro and wheeling PPAs to stabilize power costs
- Contracted offtake into OEM and trader supply chains
Controls
- Feedstock contracts with penalties and delivery bands
- Assay reconciliation and shipment level cash dominion
- Local law security, FX controls, and sanctions screens
Objective. Yield and NAV growth from midstream margins with disciplined risk control.
Target Buildouts
- Zambia: Copper and cobalt conversion near cross border feed
- Tanzania: Nickel hydromet modules tied to grid and reagents
- Zimbabwe: Lithium sulfate or hydroxide pilot with scale path
- Namibia: Concentrate finishing and export through Walvis Bay
- Morocco: Cobalt chemistry with OEM linked offtake
QIB Access Request
Email firm name, contact details, QIB status, and ticket range to request a confidentiality agreement and data room access.
Email FG Capital AdvisorsDisclaimers. Not investment, legal, tax, or accounting advice. Investing involves risk including loss of principal. Commodity price, operational, jurisdiction, ESG, and logistics risks are material. Any summary here is qualified by future offering materials and executed agreements. No offer or sale in any jurisdiction where unlawful.
