Anglo American Marketing Ltd and Kimura Capital secure mining company

By Naomi Neilson|15 January 2020

Global law firm Norton Rose Fulbright (NRF) has assisted Anglo American Marketing Limited and Kimura Capital LLP in the offtake-linked financing of a mining company.

Firm: Norton Rose Fulbright (Anglo American Marketing Limited & Kimura Capital)

Deal: Global firm Norton Rose Fulbright (NRF) has advised Anglo American Marketing Limited and Kimura Capital LLP on a strategic offtake-linked financing.

Value: US$45 million.

Area: Financing.

Key players: The team was led by partner Lisa Koch and included partners Daniel Giemajner, Alison Babbitt and Joseph Giannini, as well as team members Justin Goushas, Kit Man Cheng, Shen Low, Davor Tocakovic, Edward Anido, Melissa Young and Adrienne Sebring.

Deal significance: NRF advised Anglo American Marketing Limited and Kimura Capital on the offtake-linked financing to Chilean mining company Minera Tres Valles SpA. The mining company is owned by TSX-listed Sprott Resource Holdings Inc and a Vecchiola subsidiary.

The deal will assist in facilitating expansion plans at Minera Tres Valles SpA’s copper mine and processing facility through the development of an underground mine and the expansion of the current open-pit mines as well as implementing new processing techniques which will enable the operation to triple its current output of copper cathodes.

Offtake rights have been built into the deal granting Anglo American up to 100 per cent of copper cathode production. While the refinancing was for US$45 million, the offtake is valued in excess of US$400 million.

Ms Koch commented: “We are delighted to have been engaged to advise on and help facilitate this complex global transaction, which has enabled Minera Tres Valles to continue to grow its copper assets as well as providing Anglo American with a strategic opportunity to also expand its copper trading capabilities.”

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Anglo American Marketing Ltd and Kimura Capital secure mining company
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