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IPFS News Link • Precious Metals

Blackwater Founder Erik Prince To Launch Fund For Electric Car Metals

• by Tyler Durdan

"For all the talk of our virtual world, the innovation, you can't build those vehicles without minerals that come from generally weird, hard-to-access places," said Prince, and adviser to president Trump and brother of US education secretary Betsy DeVos. 

Miners - particularly from China, have been pouring billions into the metals as the electric vehicle industry expands, which include cobalt, copper and lithium. 

One of the largest investors has been China, with Chinese companies buying stakes in deposits in the Democratic Republic of Congo and in Chile this year. Mr Prince also runs a Hong Kong-listed security and logistics company that is backed by China's state-owned Citic Group. -Financial Times