Galena Asset Management, an independent fund manager, will now act as the corporate venturing unit of Switzerland-based commodities trader Trafigura and has raised $275m in the first close of its mining fund.

Founded in 2003, Galena is an independent firm named after the most important lead ore mineral and the Galena Private Equity Resource Fund will invest equity and debt in small to mid-sized miners so it will own 25% to 60% of the entrepreneurail business digging for coal as…

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