This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Apollo Global Management And NRI Management Group LLC Announce Strategic Partnership To Invest In Mining Assets

Stock quotes in this article: APO

NRI Management Group LLC (“NRI”) and affiliates of Apollo Global Management, LLC (NYSE: APO) (collectively with its subsidiaries “Apollo”), today announced that they have formed a partnership to invest in mining properties throughout the world, with a primary focus on coal. The strategic partnership, backed by an equity commitment of $300 million from funds affiliated with Apollo, will focus on mining and related opportunities in established regions throughout the world.

NRI, headquartered in Richmond, Virginia, has a long established mining operations team led by industry veteran Gary Rogliano, Chief Executive Officer. With more than 20 years of experience in the global mining industry, including serving as CEO of INR Energy, LLC (“INR”) and CFO of Pittston Coal, Mr. Rogliano has an outstanding track record of leading teams to acquire, develop and operate mining properties around the world. NRI’s executive management team has extensive experience in building successful private equity-backed mining companies including INR.

NRI will focus primarily on coal mining and related assets, as the demand for metallurgical coal continues to rapidly increase throughout the world. Demand for thermal coal is also expanding as the worldwide need for electricity, particularly in developing economies, is expected to increase by 70% by 2035 according to the IEA. NRI is targeting the acquisition and development of mining assets in the Americas and throughout the world, with a focus on those assets that offer strong export opportunities and participate in international seaborne trade. NRI’s emphasis is on both mining development opportunities and operating properties where its team can leverage its expertise to accelerate growth and create long-term value.

Gary Rogliano, Chief Executive Officer of NRI commented, “We are pleased to have Apollo as our private equity partner. We believe the combination of NRI’s experienced management team and Apollo’s natural resources capabilities and global investment platform create an attractive partnership that is well-positioned for long-term success. Given the state of the global commodity markets, we see a unique opportunity to continue to pursue our ongoing strategy of opportunistically acquiring and developing mining assets to create value for our shareholders.”

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,891.31 -151.59 -0.89%
S&P 500 1,957.51 -14.78 -0.75%
NASDAQ 4,444.64 -48.75 -1.08%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs