Clifford Chance advised Baikal Mining Company on the execution of an equipment supply agreement with Outotec. The contract value was approximately EUR250 million.
The Udokan copper deposit is the third largest copper deposit in the world (and the largest in Russia), with resources of more than 26 million tons of copper. The new metallurgical plant will have an annual processing capacity of 12 million tons of ore, producing 130,000 tons of copper as high grade sulphide concentrate and cathodes. The project will result in the creation of 2,400 direct jobs in the project and up to 20,000 jobs in related industries.
The Clifford Chance cross-border team was led by partner Sandy Hall (Picture) and counsel Ella Omelchenko (Moscow), supported by senior associates Irina Steinberg (London), Chris Starkey (London), associate Nikolay Nesterov (Moscow), associate Tom Ward (London), with litigation advice provided by partner Timur Aitkulov (Moscow), senior associate Dmitry Malukevich (Moscow), and associate Victor Parkhomenko (Moscow), and tax advice provided by Dmitrii Tolkachev (London)?.
Involved fees earner: Timur Aitkulov – Clifford Chance; Sandy Hall – Clifford Chance; Dmitry Malukevich – Clifford Chance; Nikolay Nesterov – Clifford Chance; Ella Omelchenko – Clifford Chance; Victor Parkhomenko – Clifford Chance; Christopher Starkey – Clifford Chance; Irina Steinberg – Clifford Chance; Dmitrii Tolkachev – Clifford Chance; Tom Ward – Clifford Chance;
Law Firms: Clifford Chance;
Clients: Baikal Mining Company;