Best Mining Financing
Sponsor Largo Resources employed a novel structure when it financed construction of a production facility for a mineral which is equally unusual in Latin America
Largo Resources' Maracás Vanadium project financing
in Bahia, Brazil, was notable for having introduced a
guaranteed, non-recourse loan structure to the marketplace.
The deal, financed by Brazilian state development bank,
BNDES, helps pave the way for further non-recourse transactions
in the country. That point - in addition to its success despite
Largo Resources' status as a junior sponsor with no local
relationship history and in the face of the challenges posed by
the lack of a forward price for vanadium - marked the
transaction out as Best Mining Financing.
Those factors also gave...
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