Sev.en Global Investments acquires US mining rights to more than 2 billion tonnes of coal

Czech group Sev.en Global Investments, part of financier Pavel Tykač’s Sev.en Group, has bought mining rights to more than two billion tonnes of coal in the United States. The group announced the deal to the Czech News Agency (ČTK) in a press release today. It did not disclose the cost of the rights. The group is also planning further investments abroad.

Sev.en Global Investments, which has managed all of Sev.en Group’s foreign investments since last year, completed the transaction a few days ago through its subsidiary Golden Eagle Land Company. The group established the company two years ago to invest in buying mining rights to coal and other mineral resources in the Americas. The Czech group bought the coal reserves from Colt and Ruger Coal Company, owned by American billionaire Chris Cline.

“Buying land and mining rights is an area that is of great interest to us both in the United States and in Australia. Owning mining rights allows us to collect payments for the minerals extracted. Established mining companies handle the extraction itself and delivery of the resource to market. We are actively looking for similar opportunities to acquire mining rights, including for other resources such as natural gas, oil and uranium, as well as nickel and lithium. Of course, we are also continuing to look at a range of opportunities to expand our portfolio of mining capacity,” said Alan Svoboda, CEO of Sev.en Global Investments.