31 July 2009 –Leading international law firm Mayer Brown has advised Endeavour Financial Corporation, as lender, on a secured convertible bridge loan to European Nickel PLC (European Nickel). The loan is intended to fund European Nickel’s working capital until completion of a significant equity investment by Jianxi Rare Earth and Rare Metals Tungsten Group Company Limited (JXTC) of China, and project financing of European Nickel’s Çaldağ mixed hydroxide project in Turkey.
European Nickel is an emerging mid-tier nickel laterite producer with assets in Turkey, the Philippines and Albania. The Çaldağ project in Turkey is the company’s flagship asset with near term production and will be world’s first commercial scale nickel laterite heap leach operation.
Endeavour Financial Corporation is an independent merchant banking company focused on the global natural resources sector. The long standing client was advised by Mayer Brown's Global Head of Mining and Minerals, Ian Coles, with associates Angus Macdonald and Miles Bake.
Ian Coles, Global Head of Mining and Minerals at Mayer Brown, said: “This transaction is the latest in a long history of involvement for Mayer Brown in the Turkish mining industry. It is yet another example of the robustness of mining assets in emerging markets despite difficult global economic conditions.”
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Mayer Brown, London
+44 20 3130 3205
Notes to editors:
- Mayer Brown is a leading global law firm with offices in key business centres across the Americas, Europe and Asia. We have approximately 1,000 lawyers in the Americas, 300 in Asia and 500 in Europe. The firm's Asia presence was enhanced by its 2008 combination with Johnson Stokes & Master, the largest and oldest Asia law firm. (In Asia, we are known as Mayer Brown.) This unequalled on-the-ground presence in the world’s leading markets for legal services enables Mayer Brown to offer clients access to local market expertise on a global basis.
- The international reach of the firm is further enhanced through an affiliated trade office in Beijing as well as three independent alliances with leading law firms in Mexico, Italy and Spain.
- Mayer Brown is a global legal services organisation comprising legal practices that are separate entities ("Mayer Brown Practices"). The Mayer Brown Practices are: Mayer Brown LLP, a limited liability partnership established in the United States; Mayer Brown International LLP, a limited liability partnership incorporated in England and Wales; and JSM, a Hong Kong partnership, and its associated entities in Asia. The Mayer Brown Practices are known as Mayer Brown in Asia.