Mishcon advises PT Bumi Resources Minerals Tbk and PT Citra Palu Minerals on a US$625 million syndicated project financing to construct an underground gold mine, upgrade a gold processing plant and bolster its minerals exploration and reserves in Indonesia
Mishcon de Reya LLP, Singapore, has advised PT Bumi Resources Minerals Tbk (BRMS) and its subsidiary PT Citra Palu Minerals (CPM) on a US$625 million syndicated term loan and revolving credit facilities package, acting as international counsel advising on English law matters.
The loans will increase the capacity of CPM's first Carbon-In-Leach (CIL) gold processing plant in Palu from 500 tons to 2,000 tons per day and will fund the construction of an underground gold mine and the group's exploration activities – by supporting PT Linge Mineral Resources, to strengthen gold and silver reserves in Aceh; PT Gorontalo Minerals, to increase copper resources and reserves; and PT Suma Heksa Sinergi for further exploration of gold and silver in Lebak, Banten.
The facilities were extended by a syndicate of banks comprising Bangkok Bank Public Company Limited, PT Bank Permata Tbk, PT Bank Mega Tbk, and PT Bank Central Asia Tbk.
The Mishcon Singapore team was led by Managing Partner and Head of Asia Tahirah Ara, Counsel Angelene Teo, Managing Associate Astrid Desmonda and Associates Hannah Wylie and King Lam.
BRMS and CPM were also advised by TnP Law Firm in Indonesia regarding Indonesia law matters.