US-based private equity firm Denham Capital has committed $200m to start a new African mining venture in partnership with South Africa’s Pangea Exploration.

The new joint venture will review opportunities in a range of minerals such as gold, platinum group metals, iron ore, coal and copper across Africa.

The joint venture will look at opportunities across all stages of the project life cycle, from derisking and resource expansion through to cash flow development and operating assets.

The geologically rich resources of Africa, which face shortages of the risk capital and managerial expertise required for their development, will be the primary target of the new firm.