1 June 2009
1 June 2009 –Leading international law firm Mayer Brown has advised WestLB and Nedbank, the lenders, on a $US37.5 million loan to the Quadra Mining group in connection with the refinancing of the existing project finance facility for the Franke copper mining project in Chile.
The construction of the Franke Project, which was recently acquired by Quadra Mining, is close to completion and is projected to produce 30,000 tonnes (70 million pounds) of cathode copper per year, starting in the second half of 2009.
Long standing client WestLB and also Nedbank were advised by Mayer Brown Global Head of Mining and Minerals, Ian Coles, partner Rachel Speight and associates Abigail Hooks, Bagyasree Nambron, Amandeep Kharaud and Lucy Hall.
Mayer Brown also recently advised Standard Chartered Bank as the mandated lead arranger on a US$30 million revolving credit facility to Golden Star Resources Ltd for working capital and general corporate purposes.
Golden Star is a mid-tier gold mining company based in Colorado, with two operating mines situated along the Ashanti Gold Belt in Ghana, West Africa. The Facility carries a term of three years and will assist the company in their goal of continued growth, having just reported record quarterly gold sales.
Standard Chartered Bank was advised by Mayer Brown Global Head of Mining and Minerals, Ian Coles, and associates Angus Macdonald, Jody Shaw and Jayne Backett.
Ian Coles, Global Head of Mining and Minerals at Mayer Brown, said
: “These are the latest in a long line of innovative mining transactions and demonstrate our longstanding commitment to the mining industry. These were challenging transactions completed in a difficult economic market.”
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