![]() Sincor/PetroCedeño project financing (Venezuela, 2008).The projects were financed separately but developed on an integrated basis. S&C is participating in this R$1.321 billion port facility project and R$2.5 billion iron ore-mining corporate facility. Minas-Rio iron ore and port facility (Brazil, 20).This deal was honored as Project Finance’s “2009 Latin American Mining & Metals Deal of the Year” and Project Finance International’s “2009 Americas Mining Deal of the Year,” and it was profiled by The Wall Street Journal. This development and financing of the greenfield copper, gold and silver project in northern Chile was one of the few Latin American financing deals to close during a turbulent economic climate and the largest mining project financing ever to be completed in Chile. S&C advised the project company and its owners, Antofagasta and Marubeni, in $1.05 billion financing for the $2.34 billion copper-gold project in Chile’s Antofagasta region. Centinela (fka Esperanza) Project (Chile).The deal was honored with Mining Journal’s 2010 “Exploration and Development Funding Award” and as Project Finance’s 2010 “Latin America Mining Deal of the Year.” The Boleo project has 265 million tonnes of measured and indicated resources of copper, cobalt, zinc and manganese, and a minimum scheduled mine life of 25 years. S&C advised the lenders on intercreditor issues in connection with Minera y Metalúrgica del Boleo’s, a joint venture between Canada’s Baja Mining and a Korean consortium comprising Kores, LS-Nikko, $823 million financing facility for the construction and development of the Boleo mining project located in Baja California Sur, Mexico. The financing-in which the Japan Bank for International Cooperation participated, along with a group of four Japanese commercial banks-was on e of the largest mining projects to close in Latin America in 2012. KGHM International (formerly known as Quadra FNX Mining), Sumitomo Metal Mining and Sumitomo reached financial close for a $1 billion financing for the Sierra Gorda copper-gold-molybdenum project in Chile’s Antofagasta region. Sierra Gorda copper, molybdenum and gold project (Chile, 2012).It was awarded “Latin American Mining & Metals Deal of the Year” by Project Finance and “Deal of the Year-Mining” by Infrastructure Journal. The project was the largest mining project to close in Latin America in 2013. S&C advised the project company, Minera Antucoya, and its owners, Antofagasta and Marubeni, in $650 million financing documentation for the $1.9 billion Antucoya copper project in Chile’s Antofagasta region. Marcobre’s owners, the Sponsors of the Project, previously announced the sale of a 40 percent stake in Cumbres Andinas S.A.C., Minsur S.A.’s subsidiary that owns Marcobre and the Mina Justa copper project, to Alxar Internacional SpA, a subsidiary of Empresas Copec S.A., in a transaction valued at $200 million. ![]() ![]() The transaction is the first greenfield mine project financing to sign in Latin America in 2018 and was honored as Project Finance International 2018 “Americas Mining Deal of the Year.” The mine is expected to be operational by 2020, with a target production rate of 100,000 tons of copper. The multisource financing is made up of financing from 16 lenders, including commercial banks and the export credit agencies, EDC, EFIC, KEXIM and KfW. (the Borrower) and the Project on the $900 million project financing for the development of the $1.77 billion Mina Justa copper project. The transaction is the largest mining project to sign since 2015 and was recognized as Project Finance International 2019 “Americas Mining Deal of the Year.” S&C advised Teck Resources Limited and Compañía Minera Teck Quebrada Blanca in the project financing of the Quebrada Blanca Phase 2 copper project in Chile. Quebrada Blanca Phase 2 copper project (Chile).Recent Sullivan & Cromwell project finance experience includes working on projects such as: S&C’s work includes energy milestones in every major oil-producing country in the region.Īs a result, the Firm has remained the leading sponsor/borrower firm for project financings in Latin America for two decades. Indeed, the Firm has acted as counsel to the sponsors or project in virtually every major mining project in Latin America. Ever since, S&C has represented sponsors or lenders from Latin America, Asia, Europe and North America in many of the region’s milestone projects in Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Panama, Peru and Venezuela. In 1988, it acted for the sponsors on the Escondida copper project in Chile-the precedent for today’s limited-recourse financings and the region’s first post-1980s debt crisis major mining project financing. The Firm has a long history of groundbreaking transactions in the region. oil and gas (upstream, midstream and downstream),.
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