Voskhod Chromite Project / Oriel Resources

Voskhod was the first project financing in Kazakhstan without PRI, the first ever chromite mine project financing and the first ever project finance using Eurasia Development Bank as a lender. We also advised on the acquisition of IPH Polychrom Holdings, a company building a ferrochrome smelter in Russia.

 
  • Junior sponsorship
  • Country perception
  • Market/offtake risk on chromite lump and fines products
  • Underground mining
 
  • Financing plan designed to address lender concerns as to sponsor size and creditworthiness - Contingency; cost overrun facilities; equity in first
  • Project implementation plan designed to address lender concerns - Strong management team and contractors selected; penalties and incentives incorporated into key contracts
  • Long term offtake contracts agreed with ferrochrome smelters and marketing study provided comfort on market risk
  • Provision of consultant experts to "hand-hold" the lenders: technical,
    social/environmental, legal, insurance,
  • Use of EDB as a Lender provided soft comfort to Lenders on country concerns
 
 

Key Contact

Paul Mainwaring

Vice-President