La Mancha was a junior gold mining company established in 1996, listed in Toronto, acquired by AREVA in 2006 and by the Sawiris family in 2012. From 2012 to 2015, we turned around, expanded, and operated three gold mines (in Australia, Sudan and Ivory Coast). In 2015, we sold the Ariab Mining Company, contributed our Australian Mungari mine “La Mancha Australia” to Evolution Mining (ASX:EVN, “Evolution”) and our Ity mine “Société des Mines d’Ity” in Ivory Coast to Endeavour Mining (TSX:EDV, “Endeavour”), in exchange for a significant stake and Board representation in each company.
From 2015 onwards, we actively supported Evolution and Endeavour by providing more than US$ 600m of additional expansion capital. Today, Evolution and Endeavour are global mid-tier gold producers, ranking within the top 15 in terms of production, whilst being amongst the 5 lowest cost producers within global piers. Since 2018, we have continued to expand our portfolio with new investments and substantially increased the size of our investment team.