• London
  • Vancouver
  • Camana Bay

US$1,250mTransaction amount

Rosemont Copper Project / Augusta Resource Corporation

Structure and arrangement of project, by-product stream & offtaker financing for the development of the Rosemont copper mine in USA.

Background

Endeavour advised Augusta Resource on the financing of its US$1.25 billion Rosemont project in Arizona.

Comprehensive role advising the project sponsor including:
  • 20% stake in the Rosemont project sold to consortium of Korean offtakers: US$176 million
  • Life of mine precious metals sold to Silver Wheaton: US$230 million
  • Offtaker short term finance replaced Sumitomo funding

Key Contacts

David Rhodes

Managing Director


George Pyper

Managing Director


Challenges

  • Junior sponsor issues
  • Multiple sources of financing
  • Permitting delays
  • Co-ordination with Korean JV partners

Solutions

  • Sources of finance competed: maximized government backed finance
  • Endeavour kept sources of finance separate and conducted competitive negotiations
  • Completion of due diligence; presentation of “financing package”
  • Management and co-ordination of agenda, timetable and discussions
  • Company successfully acquired at premium by HudBay Minerals

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Rosemont Copper Project / Augusta Resource Corporation

Structure and arrangement of project, by-product stream & offtaker financing for the development of the Rosemont copper mine in USA.

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