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Gold and Precious Metals


Expertise > Global Expertise > Banking and Finance > Gold and Precious Metals
For decades British Virgin Islands companies have been used by mining and mineral extraction companies in deal and financing structures.

Overview

Harneys has unrivalled experience providing corporate services and advice on corporate governance and BVI aspects of borrowing transactions in the mining sector. 

Our recent gold and mining experience includes acting as BVI legal advisor to Aura Minerals Inc, a company listed on the Toronto Stock Exchange, in connection with a series of multi-million dollar gold loans in which the loan is guaranteed and/or secured by various Aura Minerals Group companies from various jurisdictions, including BVI, and is repayable in gold at any time with no prepayment penalties.
 
Other recent BVI mining sector experience includes:
  • Advising a consortium of banks in relation to a multi-billion dollar financing for a well-established and growing mining and metals North American company with mining assets located in Central and South America, Africa and Europe.
  • Acting as BVI counsel to Société Générale Corporate & Investment Banking and BNP Paribas as lenders and their lead counsel on a US$75 million Senior Debt Facility, made available to Roxgold Inc for the Yaramoko Gold Project in Burkina Faso, West Africa.
  • Acting as BVI counsel to HSBC Securities (USA), Inc. (as sole lead arranger and sole bookrunner), The Bank of Nova Scotia, Société Générale and ING Bank N.V. (as mandated lead arrangers) and their lead counsel Shearman & Sterling (New York), on the provision of a US$350 million senior secured revolving credit facility Nicaragua (with a built-in accordion feature permitting an increase in the loan amount to US$450 million) to B2Gold Corp, a Vancouver based gold producer company which is traded on the Toronto Stock Exchange, the New York Stock Exchange and the Namibian Stock Exchange. It has four operating gold mines in Namibia, Nicaragua and the Philippines, and development assets in Burkina Faso, Colombia, Mali and Nicaragua.
  • Advising a dual listed Canadian gold producing group with operations in North and South America and West Africa on the BVI elements of its US$100 million (with an additional US$150 million accordion) syndicated revolving credit facilities.
  • Acting as BVI advisor to an Australian listed copper producer, Tiger Resources Limited, on the refinancing of its existing bridge financing and the financing of the expansion of its SXEW copper cathode plant located in the Katanga Copper Belt in the Democratic Republic of Congo.

Contacts

Colin Riegels
Colin Riegels

Managing Partner
British Virgin Islands
Tanya Cassie-Parker
Tanya Cassie-Parker

Partner
British Virgin Islands
Russell Willings
Russell Willings

Partner
British Virgin Islands
Michelle Frett-Mathavious
Michelle Frett-Mathavious

Counsel
British Virgin Islands
Joanna  Hossack
Joanna Hossack

Associate
British Virgin Islands
Publications

Articles & Updates

Three key facts about International Financial Centres 

Recent Experience

Harneys advises on £2 billion investment in Anglo American by Volcan Holdings PLC 
Harneys advises Aluminum Corporation of China Overseas Holdings Limited in relation to its proposed privatisation of Chinalco Mining Corporation International 
Harneys advises on Metminco purchase of Minera Seafield from RMB Australia 
Harneys advises mining clients on loan financings 
Harneys advises on Burkina Faso gold project 
Harneys advises lenders on US$350 million revolving credit facility to B2Gold Corp.