Rachel Speight

Mining sector — Africa

Advised:

• A syndicate of lenders including African Export-Import Bank and Africa Finance Corp., ING, Société Générale and Natixis on a $220 million senior secured project financing facility for the underground expansion and ongoing operations of the Karowe diamond mine in Botswana.
• Discovery Minerals on the successful project financing of its Boseto Copper project in Botswana ("African Mining Deal of the Year 2011" Project Finance Magazine).
• The Lenders, including Société Générale and BNP Paribas on the financing and development of Roxgold Inc.'s Yaramoko gold project in Burkina Faso ("Africa – Mining and Metals Deal of the Year 2015" IJGlobal Europe and Africa Awards).
• Coris Bank on its USD95m financing of the Orezone Gold mine in Burkina Faso which involved intercreditor discussions with a stream provider and mezzanine financier.
• A lender on the proposed project financing of the Kiaka gold mine in Burkina Faso.
• The Mandated Lead Arrangers on the $90m financing of the Karma Gold Project in Burkina Faso.
• Africa Finance Corporation as lender on the acquisition of the Bonikro mine in Côte d'Ivoire.
• The financing parties on the $350 million refinancing of Endeavour Mining's assets in Cote d'Ivoire, Mali, Burkina Faso and Ghana which most recently involved financing to assist with Endeavour Mining's in connection with its acquisition of Teranga Gold Corporation in Senegal.
• The Eastern and South African Trade Development Bank on the financing of the Chemaf cobalt copper mine in the Democratic Republic of Congo.
• Natural resources fund Medea Future Materials Fund L.P. on a loan related to the acquisition of the Adidi Kanga gold mine in the Democratic Republic of Congo by Vector Resources.
• The sponsor on the project financing of its assets in Eritrea which involved a number of African and other official lenders.
• The finance parties (including European official lenders) on the project financing of the Kwale mine in Kenya ("African Mining Deal of the Year 2011" Project Finance International).
• The arrangers in relation to a senior debt facility made available to Bea Mountain Mining Corporation in relation to the New Liberty gold project in Liberia. This transaction was named Development Funding Deal of the Year (Mines & Money December 2013).
• On a joint venture with SNIM to develop an iron ore mine in Mauritania including negotiating infrastructure contracts for rail, port and power facilities.
• Xstrata and Sphere Minerals on various aspects of its projects in Mauritania.
• A financier in relation to the financing of the Balama Graphite Mine in Mozambique.
• The Talbot Group in relation to all aspects of its interest in the Revuboe deposit in the Tete Province, Mozambique.
• A financier in relation to the financing of the Karibib Lithium mine in Namibia.
• The finance parties in relation to the financing of the Dasa Uranium Project in Niger.
• Africa Finance Corporation in relation to its provision of a $21 million stream facility and $54 million credit facility to fund Thor Explorations' Segilola Gold Project in Nigeria.
• The sponsor on a niobium mine in Tanzania which was to benefit from UFK cover.
• Standard Chartered Bank on the US$350m financing of the Kansanshi Mine in Zambia.
• Barclays and European Investment Bank, as senior lenders, on the USD60m senior debt facility for the Munali nickel mine in Zambia.
• The lenders on a project finance facility for the development of a platinum mine in Zimbabwe.

Mining sector — outside Africa

Advised:

• The lenders on the US$160m financing of the Tico-Tico iron ore expansion project in Brazil.
• Sumitomo Metals & Mining (acting in consortium with its partner, Sumitomo Corporation), on its US$1.2 billion acquisition of a minority shareholding in the Teck-owned, Quebrada Blanca Copper Project in Chile and advising SMM on the related US $2.5 billion project financing of the Quebrada Blanca phase 2 project.
• The finance parties including the Korean Development Bank and Korean Finance Corporation, Export Development Canada and Export-Import Bank of the United States on a loan to develop a copper, cobalt and zinc project in Baja California Sur, Mexico and its subsequent restructuring.
• In connection with a royalty granted for a lithium project in Mexico.
• A group of ECAs on the proposed US$2.5bn financing for the Cobre Panama Copper project in Panama.
• Advised the sponsor on a credit facility for Yamana Gold, a Canadian mining company with operations across Central and South America.
• The lenders on a facility to a gold mine in Suriname secured against gold accounts held with refiners.
• The lenders on the $3bn financing of Canadian- headquartered, First Quantum, a global mining company which included advising on the existing Franco Nevada Streaming arrangement.
• A group of leading global financial institutions in connection with the refinancing of an existing credit facility for Canadian mining industry royalty provider, Anglo Pacific.
• The lenders on the facility to Tugaske potash project situated in Saskatchewan, Canada.
• The lender on a USD250m facility for the Kemess copper project in British Columbia, Canada.
• The lenders including Société Générale and ING Bank N.V. on a US$180 million on the pre-export facility for a mining company in Armenia, specialising in copper and molybdenum mining and processing.
• The lenders on the $90 million financing of the Karchiga Project in Kazakhstan.
• The lenders on a loan facility to Oriel Resources plc, a London- based chrome and nickel mining and processing company for the Voskhod Chrome Project in Kazakhstan.
• Nordic Mines on the financing and subsequent refinancing of their gold mine in Finland.
• The finance parties on the successful project financing for the Kevitsa Mine in Finland.
• The lenders on the financing and refinancing of a nickel mine in Sotkamo Finland being developed by Talvivaara.
• The lender on the financing of a zinc and lead mine in North Greenland.
• The sponsor on the Royalty financing arrangements connected with a mine in Greenland.
• The sponsor on the project financing of the Aguas Teñidas copper-zinc mine in Spain.
• The US government and Afghanistan Ministry of Mines on the development of the mining industry in Afghanistan (mineral reserves potentially valued in excess of US$ 3 trillion and include gold, copper, iron ore, lithium and rare earths) with particular emphasis on the tendering process, model mining agreements and suitability of the mining laws. This was recognised in Financial Times Innovative Lawyer Awards 2011 as a “Stand-out” firm for our work on this and awarded the “Infrastructure/ Energy Team of the Year” at the Lawyer Awards 2012.

Infrastructure finance sector

Represented:

• A group of international export credit agencies as lenders to the $10.6 billion project financing of the Tahrir petrochemical plant in Ain Sokhna, Egypt.
• A group of international export credit agencies as lenders on the USD900m financing of the EHC Expansion ammonia project in Egypt
• Africa Finance Corporation, Afreximbank on the financing of a Phosphate Plant in Egypt with an associated phosphate mine.
• African Legal Support Facility (ALSF) in the tender, award, drafting and negotiation of all contracts for the expansion of the Port of Banjul, a key infrastructure/PPP project in the Republic of Gambia.
• Africa Finance Corporation and Equity Bank Uganda Limited on the financing of the construction of two additional self-propelled barges being developed by Mahathi Infra Uganda Ltd, an oil logistics firm, for use on Lake Victoria, Uganda.
• African Legal Support Facility (ALSF) in the structuring and negotiation of effective PPP agreements for the Republic of Zimbabwe.
• One of the largest steel producers in the world on a major arbitration in relation to its mineral rights in South Africa.
• The Kingdom of Bahrain on the privatisation of its water and electricity industry.
• Successful concessionaire on the development of an oil terminal at the Port of Aqaba, Jordan.
• The Ministry of Mines and Petroleum of Afghanistan in relation to the tendering process for private investors to design, construct and operate new cement production facilities in Jabal Saraj (Parwan Province) and Herat (Herat Province).
• Autopista del Sol, Concesionaria Española, S.A. (“Ausol”), a Cintra subsidiary, in its €557 million refinancing of the AP-7 toll -road in the Costa del Sol, Spain through the issuance of €507 million of project bonds and the entering into of a €50.8 million subordinated junior facility.
• Sociedad Concesionaria Autovía de la Plata in its offering of €184.5 million of project bonds to refinance a 49km stretch of the A66 motorway northwest of Madrid, Spain (named "Refinancing Deal of the Year" in the 2015 IJ Global European and Africa Awards).
• The issuer on the refinancing of the photovoltaic solar power park located in El Bonillo (Albacete) Spain.
• GT Genera Renovables S.L. on the financing of its solar assets in Spain.
• The Government of the Hellenic Republic (Government of Greece) on the Intergovernmental Framework Agreement with the Republic of Bulgaria to develop the rail connection between Greece and Bulgaria
• The Klesch Group, a global industrial company, on the novel financing of its Heide refinery in Germany and its Kalundborg refinery in Denmark.
• Preem, the largest fuel company in Sweden, on the financing of its Gothenburg refinery in Sweden.
• An Icelandic producer and seller of silicon and solar grade silicon products on a loan covered by Nordic export credit agencies.
• An EPC Contractor on the financial structuring of the North Middlesex Hospital PPP Project in the UK.
• An EPC Contractor on the structuring of the University of Hertfordshire, UK PPP student accommodation project.
• A monoline guarantee provider in relation to the Newcastle Hospital PFI project in the UK.
• GE Medical Systems as managed equipment service provider in connection with the St Helens & Knowsley NHS Trust PFI Project in the UK.
• Road Management Limited in relation to the £260m PFI project to upgrade, operate and maintain a 33- mile stretch of the A1 road in Yorkshire, UK.
• The contractor on the Nottingham Express Transit Phase 2 PFI Tender in the UK, a £600 million extension of the existing tramway.

• 英国法（イングランド及びウェールズ）事務弁護士（ソリシター）