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August
UK steel trader Stemcor has returned to the syndications market with a $75 million revolving credit facility targeted at Asian lenders.
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The Korea Development Bank and the Export-Import Bank of the United States have approved a project financing for the Boleo Project in Mexico.
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Rusal is poised to refinance its Russian bank trade debt and sign a project loan for the completion of its Boguchanskaya plant.
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Unicredit signs borrowing base facility for gold investment company Endeavour Finance Corporation to acquire Canadian mining firm Etruscan.
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July
After attracting an oversubscription in general syndication Ukrainian steelmaker Metinvest has scaled back its pre-export financing.
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Nordea has signed a new four-year deal with Russian steel producer Evraz to refinance its existing loan facilities.
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Standard Chartered Bank has created a new position - global head of commodities research – to help develop new business in the commodity derivatives and physical markets.
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Rabobank has been mandated by Ocean Partners for a limited recourse pre-payment facility to Mongolian copper miner Erdenet, its third in just over a year.
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After attracting an oversubscription in general syndication Ukrainian steelmaker Metinvest is scaling back its pre-export financing before it closes early next week.
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Ivanhoe Mines has appointed a core lender group of five financial institutions that will lead the arrangement of its Oyu Tolgoi copper and gold mining complex debt package in Mongolia.
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Raiffeisenbank and Raiffeisen Zentralbank Österreich (RZB) have signed a pre-export financing for Russian and global mineral fertilizer company Acron.
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DLA Piper’s James Willcock assisted by DLA Piper's Herman Lemaire and Emmanuel Lubala analyse what impact West-African legal treaty OHADA will have on secured lending within the Democratic Republic of Congo.
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KME Group, the pan-European copper producer, has signed a new credit line with a pool of banks.
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Talvivaara Mining has signed a three-year revolving credit to finish the development of its nickel mine in central Finland.
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June
London-listed Russian miner Petropavlovsk’s discussions with Industrial and Commercial Bank of China to fund its Kimkano-Sutarskiy iron ore mining operation are progressing well.
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Baja Mining Corp has signed an agreement with Louis Dreyfus Commodities that sees the project financing of the Boleo copper/cobalt mine in Mexico move forward.
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Russian coal and steel group Mechel has launched a $2.1 billion pre-export finance to refinance existing debt from July 2009.
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JBIC and Nexi included in project finance debt for British Columbia’s Copper Mountain Mining project.
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May
China International Fund has agreed to fund Bellzone Mining’s Kalia Iron Project based in Guinea.
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Ivanhoe Mines has signed a mandate letter with IFIs and is selecting lead arrangers for a major financing package for the construction of a mining complex in southern Mongolia.
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Deutsche Bank has been mandated by Ukrainian steelmaker Metinvest for a $300 million pre-export financing.
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Metals financiers are clawing back, but it is a slow road. Jonathan Bell, speaks to some of the players.
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Abu Dhabi's Emirates Steel Industries is requesting financing from banks for long term debt for the development of its plant at Taweelah.
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Commentary from Peter Hall, vice president and chief economist, Export Development Canada (EDC).
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Steel trader Stemcor has scored a syndication success with both its revolving credit facility and two-year forward start facility closing yesterday oversubscribed.
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Alcoa and Saudi Arabian Mining have awarded the first contracts for the construction of their joint-venture integrated aluminium complex at Ras Azzour, Saudi Arabia.
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April
Steel trader Stemcor Holdings looks likely to score an oversubscription for its forward start facility and revolving credit loan presently in the market.
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Commodities trader Glencore has already secured more than $9 billion in commitments through general syndication for its revolving credit facility.
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Mining company ENRC is considering trade finance as one option in its investment in expanding and upgrading its production facilities in Kazakhstan.
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South Africa’s AngloGold Ashanti has signed an unsecured revolving credit facility with a club of banks – the largest deal in sub-Saharan Africa so far this year.
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The Dubai Multi Commodities Centre Authority has announced the performance of its global multi commodity receipt-facilitated financing during 2009.
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March
Banks have launched a new revolving credit facility and forward start facility for steel trader Stemcor.
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Catching up with Rusal’s director of capital markets, Oleg Mukhamedshin, is not always easy. But on a recent visit to London, he found time in between meeting trade bankers to have a chat with Jonathan Bell.
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Zinc producer Nyrstar has scaled back commitments on its debut borrowing base facility.
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Credit Agricole CIB has opened a new transactional commodity finance business platform in Shanghai.
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Reed Smith partner Paul Dillon explains the pitfalls regarding the termination of commodity contracts.
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A debut borrowing base facility for zinc producer Nyrstar has closed “massively” oversubscribed.
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February
The EBRD has sold its minority stake in Centerra Gold, the Canadian-based gold mining and exploration company, operating primarily in the Kyrgyz Republic and Mongolia.
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Commodities trader Noble Group has announced high revenues and record group tonnage volumes for 2009.
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A debut borrowing base facility for zinc producer Nyrstar is proving popular in the syndications market and looks likely to hit its target amount say bankers close to the deal.
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JPMorgan has acquired RBS Sempra Commodities' global assets leaving just the firm’s North American natural gas and power business.
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Vancouver’s Augusta Resource Corporation has signed a gold and silver streaming deal with Silver Wheaton Corporation to help fund its Rosemont Copper Project.
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Talviraara’s zinc off-take deal repays project debt, a Finnish junior miner, has used a zinc streaming deal- the largest to date for zinc - to repay its project finance debt.
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Canadian export credit agency, EDC, has provided a loan to Chilean mining company Minera Los Pelambres.
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January
JPMorgan looks set to acquire base metals trader and broker RBS Sempra Commodities as it negotiates a deal.
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Russia-based Salans partner Glenn Kolleeny has been elected to the firm’s global board.
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Rabobank and Banco Espirito Santo (BES) and the UK’s Ocean Partners have closed a second limited recourse pre-payment facility to fund Mongolian copper miner Erdenet.