July 9, 2018 / 7:35 AM / in a year

Swiss commodities group Blackstone Resources debuts on Swiss exchange

ZURICH, July 9 (Reuters) - Swiss commodities company Blackstone Resources completed its listing on the Swiss Six Exchange on Monday, debuting with a share price of 13.5 Swiss francs per share.

The commodities holding and trading company listed 42.7 million bearer shares to broaden its shareholder base and enable it to raise money for future acquisitions in the battery metal market, it said in a statement last week announcing its plans to list.

Blackstone Resources, based in the Swiss town of Baar, reported a net profit of 3.8 million Swiss francs ($3.85 million) in 2017. It operates nine companies, and employs around 45 people.

Founded in 1995, Blackstone Resources builds, develops and manages production facilities in Peru, Colombia, Canada, Norway and Mongolia.

It concentrates on the production of battery metals like cobalt, manganese, molybdenum, lithium, graphite, copper and nickel, as well as gold and silver production.

Blackstone Resources, which also has offices in Mongolia and Peru, according to its website, intends to significantly expand its strategic investments and operations across all these areas, the company said when the listing was announced. ($1 = 0.9877 Swiss francs) (Reporting by John Revill and Brenna Hughes Neghaiwi, edited by John Miller)

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