August 2010

US Ex-Im clears Sasan coal support 27 August 2010

US Ex-Im’s board has given final approval for a loan guarantee worth $917 million for the vertically integrated coal mine attached to Reliance’s 3,960MW Sasan UMPP in Madhya Pradesh, India.

Emirates Steel closes 25 August 2010

Abu Dhabi Emirates Steel Industries has reached financial close on a $1.1 billion 7-year project financing for expansion from a group of nine regional banks.

Wesizwe raises interim debt 24 August 2010

Junior platinum miner Wesizwe has raised R91 million ($12.3 million) of interim financing from Bank of China

Millennium Minerals mandates BNP on Nullagine 18 August 2010

Millennium Minerals has mandated BNP Paribas as lead arranger of $35 million

Adamus signs and funds on Nzema loan with Macquarie 16 August 2010

Australian junior gold miner Adamus Resources has signed on its Nzema gold project in southern Ghana.

Greystar mandates advisers on Angostura 13 August 2010

Junior mining developer Greystar Resources has mandated BMO and Cutfield Freeman as financial advisers

Rusal agrees refi with Sberbank 11 August 2010

Rusal, has reached agreement with Sberbank on a proposed $4.59 billion loan to refinance the $4.5 billion loan originally extended by Vnesheconombank (VEB) in November 2008.

Newcastle Coal loader expansion finances 10 August 2010

Newcastle Coal Infrastructure Group - which is owned by BHP Billiton (through Hunter Valley Energy Coal), Centennial Coal, Donaldson Coal, Peabody Energy, Felix Resources (Yancoal) and Whitehaven Coal - has closed the expansion financing and refinancing for its Newcastle Coal loader project in New South Wales.

Utkal Alumina financial close 05 August 2010

Hindalco subsidiary Utkal Alumina International Limited (Utkal) has raised a Rs49.06 billion ($1.05 billion) 11-year debt facility to finance the development of a 1.5 mtpa (expandable to 3 mtpa) alumina refinery and 90MW captive power plant at Kucheipadar, Rayagada district in Orissa.

Etruscan seeks Endeavour acquisition approval 03 August 2010

Etruscan Resources is seeking shareholder approval for its C$77 million ($75 million) acquisition by Endeavour Financial.

July 2010

ECAs fill the gap in big-ticket mining 29 July 2010

The fall in the price of commodities and natural resources combined with a dearth of commercial debt has resulted in an increase in multilateral and export credit agencies lending to mining developers. Catherine McGuirk reports.

Mining & Metals 29 July 2010

Emal augments phase 1 financing with ECA debt

People & Places 29 July 2010

Cirincione moves to Siemens as Dexia reshuffles

European Nickel raises more equity 12 July 2010

European Nickel has partnered with Hunter Dickinson (HD), via a two-tranche private share placement with HD's affiliate Constantia Resources

Emal augments phase 1 financing with ECA debt 12 July 2010

Emirates Aluminium (Emal) has signed direct and covered loans totalling $737 million with three export credit agencies for phase 1 of its smelter project - a deal that augments the project financing it closed in 2007.

Karara Mining signed 04 July 2010

Karara Mining, a 50/50 joint venture between Gindalbie Metals and Angang Steel, has signed the $1.2 billion 12-year project financing for its Karara iron ore mining project 225km east of Geraldton, Australia.

Olympus signs on Tata coal acquisition 02 July 2010

Private equity firm Olympus Capital has agreed to buy a 15% stake in the holding companies for two Indonesian coal mines

Reliance's Sasan coal meets US Ex-Im hurdle 01 July 2010

The board of US Ex-Im rejected Reliance Power's application for a $560 million loan for its Sasan coal-fired power project

Talvivaara tops off with revolver 01 July 2010

Talvivaara Mining has signed a Eu100 million ($122 million) three-year corporate revolving credit to complete development of its nickel mine in central Finland and smooth the transition from ramp-up to operating entity.