Trade & Commodities

Our Trade & Commodities Work

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• Africa
• Americas
• Asia Pacific
• Middle East
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• Bulyanhulu Gold Mine Limited USD 142 million secured loan

  Advising Standard Bank of South Africa on its USD 142 million secured loan to Bulyanhulu Gold Mine Limited

  South Africa

  Coverage for mechanical breakdown and business interuption

  Representing reinsurers in the successful settlement of a USD 30 million claim arising from a breakdown of a mechanical shovel and consequential business interruption claim at a large diamond mine loss concerning coverage and quantum issues

  South Africa

  South African coal and Delta Mining Consolidated

  Advising Delta Mining Consolidated on several rounds of pre IPO/IPO financing around a coal resource in South Africa

  South Africa

  Buying a coffee trading house

  Advising an Italian coffee trading house on the acquisition of a coffee trading business. The transaction needed to be structured so as to preserve confidentiality.

  Italy

  Eastern Petroleum Corporation acquires an oil field in Russia

  Advising a subsidiary of Eastern Petroleum Corporation on the acquisition of an oil field in Khanty-Mansiysk and the establishment of a JV company.

  Russian Federation

  High-profile sale of metal warehousing

  Advising a leading Italian trading company on the high-profile sale of a metals warehousing business located in eight jurisdictions to Glencore. This deal was subject to complex regulatory requirements across several jurisdictions.

  Italy

  Pacorinin SrL sale of metal warehousing business

  Advising Pacorini SrL on the high-profile sale of a metals warehousing business located in eight jurisdictions to Glencore. This deal was subject to complex regulatory requirements across several jurisdictions.

  Italy

  Advising Lori Systems on its Series A round of US$5.5 Million

  Advising Lori Systems, a major player in the logistics-tech sector, on its Series A round of US$5.5 Million in the form of convertible debt.

  Kenya

  Kazakh crude oil offtake agreement dispute

  Acting for a leading international energy trading company in multiple international arbitration proceedings in connection with a supplier's failure to perform under a long term offtake agreement for Kazakh crude oil and condensate and ancillary financial arrangements.

  Kazakhstan

  LPG plant joint venture dispute

  Acting for a leading international energy trading company in international arbitration proceedings in relation to a dispute arising in connection with a joint venture for the construction of an LPG plant in Kazakhstan.

  Kazakhstan
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• Bulyanhulu Gold Mine Limited USD 142 million secured loan

  Advising Standard Bank of South Africa on its USD 142 million secured loan to Bulyanhulu Gold Mine Limited

  South Africa

  South African coal and Delta Mining Consolidated

  Advising Delta Mining Consolidated on several rounds of pre IPO/IPO financing around a coal resource in South Africa

  South Africa

  Coverage for mechanical breakdown and business interuption

  Representing reinsurers in the successful settlement of a USD 30 million claim arising from a breakdown of a mechanical shovel and consequential business interruption claim at a large diamond mine loss concerning coverage and quantum issues

  South Africa

  Advising Lori Systems on its Series A round of US$5.5 Million

  Advising Lori Systems, a major player in the logistics-tech sector, on its Series A round of US$5.5 Million in the form of convertible debt.

  Kenya

  Glencore Energy (UK) Ltd v Transworld Oil Ltd

  Representing a successful oil trader seller in a claim for non-performance by the buyer under an oil sale contract in Glencore Energy (UK) Ltd v Transworld Oil Ltd.  This case is often cited as one of the few cases dealing with the effect of hedging on the damages that can be claimed.

  Nigeria

  Edenville Energys licenses in Tanzania

  Advising Edenville Energy PLC, an English AIM listed company, on its coal prospecting licences in Tanzania and joint venture arrangements, including conducting a due diligence on the Tanzanian joint venture partners

  Tanzania

  Tanzanian conglomerate USD 20 million secured loan

  Advising Standard Bank (Mauritius) Limited on its USD 20 million secured loan to a Tanzanian conglomerate.

  Tanzania

  FPSO vessel supply and maintainance

  Advising on long term supply and maintenance contracts in respect of a fleet of FPSO vessels deployed offshore of Angola, DRC, Nigeria and Brazil, including assisting the fleet owner in negotiating the contracts with the equipment suppliers and field operators

  Angola

  USD 20 billion Simandou South iron ore mining in Guinea

  Advising on the high profile, USD 20 billion Simandou South iron ore mining project. This project is one of the world’s largest untapped high quality iron ore deposits and the project includes the construction of a 700km railway and the development of a deep water port to the south of Conakry, Guinea’s capital. Once developed it is set to be the largest integrated iron ore mine and infrastructure project ever developed in Africa and it offers the potential to transform the development of...

  Guinea

  Trade finance operations between banks in the EU and Libya

  Advising an EU domiciled bank on EU sanctions regulations relating to trade finance operations between the EU bank and its Libyan subsidiary bank

  Libya
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• Advising Brazilian developers of renewable energy projects

  Advising Brazilian developers of renewable energy projects on agreements for the forward sale of carbon credits, reviewing CDM emission reductions purchase agreements and regulatory requirements

  Brazil

  Advising on a Brazilian commodities finance facility

  Advising a Brazilian trading company on a USD 85 million structured commodities finance facility (sugar and coffee) in Brazil

  Brazil

  Political risk cover for zinc and lead mines in South America

  Advising a bank on political risk cover for investments in lead and zinc mines in South America

  Brazil

  Floating African Global Energy

  Supporting New Age (African Global Energy) on a proposed listing on the Toronto Stock Exchange

  Canada

  Ivanplats becomes majority stakeholder at The Kipushi Project

  Advising on the Canadian mining company Ivanplats Limited in its acquisition of a majority stake in a world class zinc deposit in Kipushi, in the Democratic Republic of Congo. The Kipushi Project is based on the high-grade, underground zinc-copper mine in the Central African Copperbelt.

  Canada

  Restructuring Cuban sugar debt

  Advising insurers regarding the restructuring of a Cuban sugar related debt during a time of considerable political uncertainty and government restructuring

  Cuba

  Disputed tar sands mining license in Ecuador

  Representing US investors in a dispute with the Government of Ecuador concerning its revocation of a tar sands mining licence and involving Ecuador’s renunciation of its membership of ICSID

  Ecuador

  Advising bank on facility to finance metal stocks

  Advising a trade finance bank on a facility to finance metal stocks in LME approved warehouses in the US and the Netherlands and take security over them

  United States

• Kazakh crude oil offtake agreement dispute

  Acting for a leading international energy trading company in multiple international arbitration proceedings in connection with a supplier's failure to perform under a long term offtake agreement for Kazakh crude oil and condensate and ancillary financial arrangements.

  Kazakhstan

  LPG plant joint venture dispute

  Acting for a leading international energy trading company in international arbitration proceedings in relation to a dispute arising in connection with a joint venture for the construction of an LPG plant in Kazakhstan.

  Kazakhstan

  Chinese buyer GAFTA arbitration

  Advising sellers of 55,000MT of feed barley in relation to default by Chinese buyers and related GAFTA arbitration.

  China

  Shareholder class action against collapsed mining company

  Acting for a director of a collapsed mining company in a shareholder class action in the Federal Court against a junior mining company, its directors and auditors arising out of alleged misrepresentations to the market and continuous disclosure breaches at around the time of the 2008 financial crisis:  HFPS Pty Limited (Trustee) v Tamaya Resources Limited (in Liq) (No 3) [2017] FCA 650.

  Australia

  Debt and equity limited recourse trade financing

  Advising an international trader in connection with its debt and equity limited recourse trade financing of an Australian scrap-steel recycler including in connection with its ongoing working capital trade finance lines

  Australia

  Advising on anti-bribery and corruption allegations

  Advising a multinational corporation on its anti-bribery and corruption obligations and resolving alleged concerns held by the Australian Federal Police and a regulator that the corporation had breached those obligations

  Australia

  Wheat Exports Australia Audit

  Conducting, on the instruction of Wheat Exports Australia, an audit of one year’s worth of the commodity trading and chartering practices of a major Australian exporter of wheat, relating to export accreditation restrictions

  Australia

  Australian bank on metal trading and business in China

  Advising an Australian bank on the establishment of their metals trading desks, their standard form contracts and legal requirements to carry on business in China

  Australia

  Insurance advice on Western Australian mining joint venture

  Advising a major mining company on insurance arrangements for a proposed joint venture with another mining company in Western Australia

  Australia

  Purchase of UK's largest independent freight company

  Advising a Hong Kong entity on the purchase of the UK’s largest independent freight forwarding company

  Hong Kong
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• Oil trading restructuring

  Acting for a Sharjah based trade and ship owner in respect of their restructuring and transition of their oil trading business (that included ownership of a fleet of oil tankers) against various syndicates of international banks and credit insurers in restructuring. This included negotiating with different groups of Lenders to enable different assets to be disposed of under specific transactions and a restructure.

  United Arab Emirates

  Advising a North American chemical manufacture

  Advising a North American chemical manufacture in its relationship with its local distributor in Egypt;

  Egypt

  Letters of credit

  Acting for a major European bank, which had confirmed several letters of credit, regarding the default of the issuing bank incorporated in Bahrain; obtaining an freezing injunction to seize assets in England; considering cross-border insolvency issues and an application by the administrator for recognition of the Bahraini administration

  Bahrain

  Claims and counterclaims over a refinery in Oman

  Acting for a Japanese EPC contractor in relation to large value claims and counterclaims related to a refinery project in Oman.

  Oman

  Unlawful expropriation of assets and property

  Advising Saudi investors in relation to an ICSID arbitration, BIT treaties and alternative enforcement mechanisms regarding the unlawful expropriation of assets and property by the Egyptian government arising out of the Arab Spring

  Saudi Arabia

  Multi-billion dollar development of new light rail system

  Advising the Dubai Municipality on its multi-billion dollar development of a new light rail system traversing the city of Dubai and linking up with its airport. The system will be built in two sections, and will extend for some 70 km, with 35 stations.

  United Arab Emirates

  Operation and development of port container facilities in Yemen

  Advising on the negotiation of agreements for the Yemeni Port of Aden, including a Concession Agreement, Management Services Agreement and Port Services Agreement

  Yemen

  Operation and development of port container facilities in Yemen

  Advising on the negotiation of a variety of agreements for the Yemeni Port of Aden, including Concession Agreement, Management Services Agreement, Port Services Agreement, Employee Transfer Agreement, Secondment Agreement, Performance Guarantees and several Letters of Comfort

  Yemen

  Yemeni USD 10.9 billion Production Sharing Agreement ICC Arbitration

  Successfully acting on a multi-billion dollar arbitration concerning the Republic of Yemen's national wealth and in relation to a 20-year old Production Sharing Agreement (PSA) regarding the Marib Block 18 oil field in the Yemen. Reported in The American Lawyer as the 2nd largest contract dispute and the largest ICC arbitration in their 2007 Arbitration Scorecard.

  Yemen

• High-profile sale of metal warehousing

  Advising a leading Italian trading company on the high-profile sale of a metals warehousing business located in eight jurisdictions to Glencore. This deal was subject to complex regulatory requirements across several jurisdictions.

  Italy

  Pacorinin SrL sale of metal warehousing business

  Advising Pacorini SrL on the high-profile sale of a metals warehousing business located in eight jurisdictions to Glencore. This deal was subject to complex regulatory requirements across several jurisdictions.

  Italy

  Buying a coffee trading house

  Advising an Italian coffee trading house on the acquisition of a coffee trading business. The transaction needed to be structured so as to preserve confidentiality.

  Italy

  Eastern Petroleum Corporation acquires an oil field in Russia

  Advising a subsidiary of Eastern Petroleum Corporation on the acquisition of an oil field in Khanty-Mansiysk and the establishment of a JV company.

  Russian Federation

  Precedent setting FOSFA sale of goods arbitration

  Successfully acting on this high profile FOSFA arbitration concerning a soft commodity agreement and time limits for the commencement of the arbitration. The judgment was widely reported, having implications on the timing of all future soft commodity cases

  Switzerland

  Ukrainian sunflower and mineral oil recall

  Handling FOSFA arbitration on a dispute arising from the contamination of Ukrainian origin sunflower oil with mineral oil which resulted in a Europe-wide recall with the Award granted in favour of our client.

  Ukraine

  Aluminium trading dispute

  Advising a metals trader in respect of an aluminium trading dispute with a manufacturer in relation to a claimed force majeure and non-delivery of material.

  United Kingdom

  LNG long term sale contracts

  Advising Total on all aspects of the long term sale of marine LNG to CMA CGM including reviewing HOAs, drafting a bespoke long term contract for the supply of marine LNG incorporating the HOAs and a template customer contract and advising on marine and pollution liability, insurance and competition.

  France

  EFET gas trading contracts

  Advising an international trading company on EFET contracts for trading gas at a number of European hubs with global counterparties.

  Switzerland

  Advising Russian Coal Producer on English Sale Contracts

  Advising a Russian coal producer on the drafting of several of their English law sale contracts and re-drafting their precedent contracts.

  Russian Federation
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