Jetti Resources announced a $50 million financing led by Mitsubishi Corporation and including major natural-resources and institutional investors. The transaction closed on June 4, 2021. Participating backers named in the announcement include BHP Group, Freeport-McMoRan, Mitsubishi Corporation, T. Rowe Price Group and Orion Resource Partners. The deal was led by returning investor Mitsubishi Corporation and included new investors Orion Resource Partners and funds and accounts advised by T. Rowe Price. The article does not specify the financing instrument (equity, debt, or other). According to the announcement, the company has raised more than $100,000,000 in total funding to date. Jetti Resources has developed a novel hydrometallurgical technology to extract metals of value from mineral ores and mining tailings that the industry has struggled to process. The company’s core product aims to produce high copper yields while requiring low capital expenditure and operating costs. Jetti says its technology can also lead to lower criteria emissions and reduced water usage, and to maximize resources at existing copper deposits. The current R&D effort seeks to develop a more energy-efficient process for extracting copper from regular- and lower-grade ores as well as waste mining materials and tailings. That research is being supported by public funding to advance commercial-scale application that could lower emissions, water use, and costs for mining companies. Founded in 2014 and based in Vancouver, Jetti has raised more than CAD 24 million (USD 18.7 million) to date from a 2017 Series A led by US investors; disclosed backers include DNS Capital, Kleiner Perkins, and Zoma Capital.

Total raised

$150M

Funding rounds

3

Latest round

Equity

Latest activity

Jul 2019