Norton Rose Fulbright advises First Quantum Minerals on copper prepay arrangement
Published by Jane Bentham,
Editorial Assistant
Global Mining Review,
Global law firm, Norton Rose Fulbright has advised Vancouver-based First Quantum Minerals on its US$500 million three-year copper prepay arrangement with the largest copper producer in mainland China.
The three-year arrangement will enable First Quantum Minerals to deliver 50 000 t of copper anode per year from Kansanshi mine in Zambia. It has been agreed that the prepaid amount will reduce in line with deliveries of the copper anode in the second and third term of the prepay arrangement.
First Quantum Minerals is a global copper company. It produces copper in the form of concentrate, cathode and anode, and has inventories of nickel, gold and cobalt.
The multi-disciplinary team from Norton Rose Fulbright was led-by London-based Partner, Martin McCann who was supported by London-based Counsel James Rennard, Senior Adviser Kathryn Ward and Toronto-based Partner Evan Cobb. Together they advised First Quantum Minerals on all legal aspects of the prepay arrangement.
Martin McCann commented: “This is a fantastic transaction for First Quantum Minerals and we are delighted to have supported them on this ground-breaking deal. Copper is one of the most important minerals in the deliverance of a sustainable energy transition. Between our clients in Zambia and the DRC, it’s one of the most exciting parts of our mining business and the pipeline of deals looks astonishing.”
Read the article online at: https://www.globalminingreview.com/mining/06032024/norton-rose-fulbright-advises-first-quantum-minerals-on-copper-prepay-arrangement/
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