Thu, Aug
51 New Articles

Clifford Chance Advises Baikal Mining Company on Contract for Udokan Mining and Metallurgical Plant Construction

Clifford Chance Advises Baikal Mining Company on Contract for Udokan Mining and Metallurgical Plant Construction

  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Clifford Chance has advised the Baikal Mining Company on an agreement with Renaissance Heavy Industries for the construction of the Udokan Mining and Metallurgical Plant. Baker McKenzie reportedly advised Renaissance on the deal, which is valued at approximately EUR 380 million.

Renaissance is to build an integrated plant that will include ore-dressing, leaching, and crushing facilities as well as a conveyor line. The contractor will also conduct testing and installation of technological equipment supplied by Outotec. Construction is expected to be completed in 2022.

Clifford Chance describes Udokan (in the Zabaikalye region of Russia) as "the largest undeveloped copper deposit in Russia and one of the largest in the world." According to the firm, "the project is being financed under a syndicated loan of up to USD 1.79 billion provided by VEB.RF, Gazprombank, and Sberbank. It is expected to result in the creation of 2,400 jobs on the project itself and as many as 20,000 jobs in related industries."

The Clifford Chance team was led by London-based Partner Sandy Hall and Moscow-based Counsel Ella Omelchenko, supported by London-based Senior Associate Irina Steinberg and Moscow-based Associate Nikolay Nesterov.

Russian Knowledge Partner

Founded in 1993, Egorov Puginsky Afanasiev & Partners is the leading full-service law firm in the CIS with offices in Russia, Ukraine and Belarus and associated offices in the UK, the USA and Cyprus.

We advise its clients in many areas of law, including: dispute resolution in Russia and abroad, corporate law, M&A, antitrust issues, project finance and PPP, restructurings and insolvencies, energy and natural resources, property management and privatization, environment, technical regulation and industrial safety, banking and finance, intellectual property, criminal law, real estate and construction, taxation, family and labour disputes, marine and transport law, and international trade and customs.

We combine high academic qualifications, internationally acknowledged moral and ethical values, senior partners' professional experience and practical abilities with the vigour and knowledge of younger attorneys that enables thus providing clients with reliable, first-class service according to both Russian and western standards through a flexible structure.

All News about, and Legal Analysis by, Egorov Puginsky Afanasiev & Partners can be found here.

Firm's website: www.epam.ru


Our Latest Issue