Ottawa advises Lundin Gold on the closing of its C$350m credit facility

Our Ottawa office advised Lundin Gold on the closing of its US$350m senior secured project finance debt facility, used to fund the development and construction of the Fruta del Norte gold project in Ecuador.

The company has also executed a gold concentration offtake agreement, whereby the company will sell approximately half of its gold concentrate production over the first eight years of operations to Boliden, a high-tech metal company with a network of mines and smelters across Europe. 

Lundin Gold, headquartered in Vancouver, Canada, is developing its wholly owned Fruta del Norte gold project in southeast Ecuador. Fruta del Norte is one of the world's largest, highest-grade gold projects currently under construction.

The global team was led by Geoffrey Gilbert, Alison Babbitt and Edward Anido (Ottawa) and included Martin McCann, Felicity Brown (London), Karen Galpern (Toronto), Daniel Leslie (Toronto), Sue Cowell, Milana Chamberlain (London), Stuart Neely (London), Richard Sarabando (Vancouver), Lisa Koch (Sydney), Stephen Nattrass (Ottawa), Mark Berry (London) and Matt Hacking (London).