RK Mine Finance’s US$275 Million Project Financing Of The Khoemacau Copper Project

Norton Rose Fulbright has advised RK Mine Finance as senior lender on the US$275 million project financing of the Khoemacau copper and silver mine in Botswana owned by Cupric Canyon Capital.

The financing package also included a US$265m silver stream and US$25m subordinated debt from RGLD Gold AG, as well as equity investments from Global Natural Resource Investments and Resource Capital Fund VII LP. The financing package will be used for the construction of Khoemacau’s 3.6 million tonnes per annum Zone 5 project. Combined with other funding, the project now has a total funding of US$650 million. The funding package also provides for repayment of the existing US$105m RK Mine Finance Bridge Loan.

Construction for the mine started in early 2019 and is expected to be completed in 2021.

RK Mine Finance specializes in providing bridge, construction, expansion, working capital and acquisition finance to mid-cap and single asset mining companies.

Martin McCann (Picture), Norton Rose Fulbright’s Global Head of Business and a London-based partner, led on the deal with senior associate Felicity Brown who led the multi-jurisdictional Norton Rose Fulbright team, which included associates Jill Kavanagh and Claudia Dorbez in the London office. Vancouver-based partner David Bain and associate Matthew Choi advised on British Columbia law matters, and Johannesburg-based director Malibuye Cossie and associate Chloe Taylor provided advice on South Africa law matters.

Involved fees earner: David Bain – Norton Rose Fulbright; Felicity Brown – Norton Rose Fulbright; Matthew Choi – Norton Rose Fulbright; Malibuye Cossie – Norton Rose Fulbright; Claudia Dorbez – Norton Rose Fulbright; Jill Kavanagh – Norton Rose Fulbright; Martin McCann – Norton Rose Fulbright; Chloe Taylor – Norton Rose Fulbright;

Law Firms: Norton Rose Fulbright;

Clients: RK Mine Finance;

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