“U.S. mining financier Oskar Lewnowski has already deployed almost $1 billion in equity, loans and royalty streams into at least 17 junior mining firms, and hired a physical metals trader to handle supply. The fund would also stand out as one of the few commodity fund launches in recent years after plunging oil, copper and grain prices forced the closure of some big names, including Hermes, Brevan Howard and Hall Commodities, last year. Merchants are expanding to fill the gap left by the retreat of European and U.S. banks, which have retrenched from physical trading amid regulatory glare and tight margins. Bank revenues from base and precious metals fell for a third straight year in 2014.”
http://www.reuters.com/article/2015/05/22/metals-fund-lewnowski-idUSL1N0Y21I420150522
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