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HSF resources coal market
Herbert Smith Freehills has announced its first deal since its merger was made official on 1 October.
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Firms: Herbert Smith Freehills (Guildford Coal Limited)
Deal: Coal marketing and funding arrangements with Noble Resources International Pte Ltd over Guildford’s South Gobi coal operations in Mongolia
Area: Energy and resources
Value: Undisclosed
Key players: The Herbert Smith Freehills team was led by energy and resources partner Shane Kyriakou, together with banking partner Lucy McCullagh, senior associate Sarah Carroll and solicitors Joshua Dellios and Joyce Cunningham
Deal significance: The marketing arrangements provide for coal marketing services from the South Gobi project. These arrangements are tied to a loan facility, which will be used by Guildford to meet start-up capital expenditure and working capital costs associated with mine development and production. “This is a cornerstone project for Guildford and these marketing and funding arrangements are key to commencing commercial production from the South Gobi coal mine,” said Kyriakou.
