Dundee Corp., together with its wholly owned subsidiaries, Dundee Resources Ltd. and The Dundee Bank, has announced the launch of a resource merchant banking limited partnership, Dundee Global Resource Limited Partnership.

The Dundee Global partnership will be sub-advised by Dundee Corp.’s asset management entity, Ravensden Asset Management. It is initially being funded by Dundee Corp. through a combination of cash and the transfer of the majority of its existing resource portfolio.

Dundee Global, which will carry out all of Dundee Corp.’s future resource merchant banking activities, is seeking to attract funding from strategic third party partners.

Dundee Global’s first transaction is an equity investment and bridge loan facility for Coro Mining Corp. totalling $40 million.

“The Coro transaction represents a strategic investment in a company with a proven management team working in two countries where we have political confidence — Chile and Argentina — and a commodity — copper — which we believe has strong fundamentals going forward” says Ned Goodman, executive chairman of the global resource partnership and CEO of Dundee Corp.

Dundee Corp. says the creation of the merchant banking partnership is consistent with the firm’s objective of leveraging its banking and resource expertise while investing as a principal and on behalf of others in unique global resource investment opportunities.

Toronto-based Dundee Corp. is an asset management company dedicated to wealth management, real estate and resources with approximately $71 billion under management and administration.