Innovative. Independent. Global.
Innovative
HCF does not rely on precedent. Our strength lies in providing creative financing solutions that are tailored to our clients’ unique requirements.
Independent
HCF is free of the inherent conflicts of interest faced by our institutional peers. Our advice is strictly in the best interest of our clients.
Global
HCF advises clients across all jurisdictions. We collaborate with trusted partners to provide an on-the-ground presence and cultural sensitivity.
Our Global Reach
- Mining advisory across six continents, with executed transactions in excess of US$ 13 billion
- Strategic hubs in London, Frankfurt and the Hague, providing direct access to key players
- Established business relationships for ‘on-the-ground’ presence in remote jurisdictions
- Proven track record negotiating with governments in emerging economies
- Experts in political risk mitigation for both debt and equity
CONFIDENTIAL
Project Name: CONFIDENTIAL
Commodity: Uranium
Country: Canada
Role: Structured Debt Advisory
Financial adviser to a ASX, NYSE and TSX-listed entity in relation to the project financing of its uranium mine in Canada.
Sunrise Energy Metals Ltd.
Project Name: Sunrise
Commodity: Nickel, Cobalt, Scandium
Country: Australia
Role: Structured Debt Advisory
Financial adviser to ASX-listed Sunrise Energy Metals in relation to the project financing of its Sunrise nickel, cobalt and scandium project located in NSW, Australia.
SolGold
Project Name: Cascabel
Commodity: Copper, Gold
Country: Ecuador
Role: Structured Debt Advisory
Advised LSE and TSX-listed SolGold in relation to the project financing of its Cascabel (Alpala) gold and copper mine in Ecuador.
High Power Exploration Inc.
Project Name: Nimba
Commodity: Iron Ore
Country: Guinea
Role: PRI / Govt Negotiations
Advised High Power Exploration (HPX) on obtaining political risk insurance from the Multilateral Investment Guarantee Agency (MIGA, a World Bank subsidiary) in relation to Euronimba Limited of Jersey (100% owned by HPX)’s investments into, amongst others, Société des Mines de Fer de Guinée (SMFG), the local entity owning the Nimba iron ore project in Guinea.
Rio Tinto Group
Project Name: Simandou
Commodity: Iron Ore
Country: Guinea
Role: Structured Debt Advisory
Advised ASX, LSE and NYSE-listed Rio Tinto plc. in relation to the development of a financing strategy and the management of a strategic partner search process for the multi-billion rail and port project linked to the Simandou iron ore mine in Guinea.
NextSource Materials Inc.
Project Name: Molo
Commodity: Graphite
Country: Madagascar
Role: Structured Debt Advisory
Advised TSX-listed NextSource Materials on the negotiation and structuring of strategic partnerships, offtake agreements and debt financing in relation to its Molo Project located in Madagascar.
Mayur Resources Pte Ltd
Project Name: Orokolo Bay
Commodity: Iron Sands, Copper
Country: Papua New Guinea
Role: Structured Debt Advisory
Advised ASX-listed Mayur Resources in relation to securing of strategic partnerships and the raising of debt financing for its portfolio of iron sands, zircon, coal, copper and gold projects.
Infinitum Energy Pty Ltd
Project Name: Waste-to-Energy
Commodity: Power
Country: Sierra Leone
Role: Structured Debt Advisory
Financial adviser to Infinitum in relation to raising strategic equity and project finance debt to construct a waste-to-energy project in Sierra Leone.
CONFIDENTIAL
Project Name: CONFIDENTIAL
Commodity: Iron Ore
Country: Mauritania
Role: Focused Equity Sourcing
Financial adviser to a state-owned entity in negotiating a revised JV agreement with an incoming partner for one of its iron ore operations, including the determination of tariffs for capacity to be provided to the JV on the state-owned infrastructure system, and rail and port services to be provided by the State.
Montage Gold Corp.
Project Name: Koné
Commodity: Gold
Country: Cote d’Ivoire
Role: Structured Debt Advisory
Financial adviser to TSX.V-listed Montage Gold Corp in relation to the project financing of its Koné Gold Project in Cote d’Ivoire.
Arafura Rare Earths Ltd.
Project Name: Nolans
Commodity: Rare Earths
Country: Australia
Role: Structured Debt Advisory
Financial adviser to ASX-listed Arafura Resources Ltd in relation to the project financing of its Nolans rare earth project located in Australia’s Northern Territory.
Circum Minerals Ltd.
Project Name: Danakil
Commodity: Potash
Country: Ethiopia
Role: Structured Debt Advisory
Advised Circum Minerals Ltd (private company) in relation to the project financing of its Danakil project in northeastern Ethiopia. Our mandate was heavily impacted by the Tigray Conflict.
Erdene Resources Development Corp.
Project Name: Bayan Khundii
Commodity: Gold, Silver
Country: Mongolia
Role: Structured Debt Advisory
Financial adviser to Erdene Resources Development Corp. in relation to the project financing of its Bayan Khundii gold project in southwestern Mongolia.
Global Atomic Corp.
Project Name: Dasa
Commodity: Uranium
Country: Niger
Role: Structured Debt Advisory
Financial adviser to Global Atomic Corp. in relation to the project financing of its Dasa Uranium Project in Niger.
Australian Vanadium Ltd.
Project Name: Gabanintha
Commodity: Vanadium, Titanium Bearing Ore
Country: Australia
Role: Structured Debt Advisory
Financial adviser to ASX, FSE-listed Australian Vanadium Limited in relation to the project financing of its Gabanintha vanadium / titanium bearing iron ore project in Western Australia. Australian Vanadium Limited and Technology Metals Australia Limited announced in September 2023 their intention to merge.
Avalon Advanced Materials Inc.
Project Name: Nechalacho
Commodity: Iron Ore
Country: Canada
Role: Structured Debt Advisory
Advised TSX.V-listed Avalon Advanced Materials Inc in relation to the project financing and strategic equity investment for its Nechalacho rare earths project in Canada.
Avalon Advanced Materials Inc.
Project Name: Separation Rapids
Commodity: Lithium
Country: Canada
Role: Focused Equity Sourcing
Advised TSX.V-listed Avalon Advanced Materials Inc. in relation to the strategic equity investment for its Separation Rapids lithium project in Ontario, Canada. In November 2023, Avalon announced it had entered into a purchase and sale agreement to transfer the Separation Rapids and Lilypad Projects into Joint Venture with Sibelco.
CONFIDENTIAL
Project Name: CONFIDENTIAL
Commodity: Gold
Country: Chile
Role: Valuation
Provided valuation services to a leading New York City-based British-American hedge fund in relation to several gold projects in Chile.
CONFIDENTIAL
Project Name: CONFIDENTIAL
Commodity: Copper, Gold, Silver
Country: Colombia
Role: Valuation
Provided valuation and strategic advisory services to a TSX.V-listed entity in relation to the potential sale of a 50% share in a copper-gold-silver mine in Colombia.
Ivanhoe Mines Ltd.
Project Name: Kamoa-Kakula
Commodity: Copper
Country: DRC
Role: Structured Debt Advisory
Advised Ivanhoe Mines Ltd in relation to the US$ 210.0m equipment financing and US$ 9.0m down payment facility for its Kamoa-Kakula copper project in the DRC. The financing involved the Swedish Export Credit Agency (EKN), the Swedish Export Credit Corporation (SEK) and Standard Bank DRC and was linked to the supply of underground mobile equipment and related services and spares from Scandinavian companies.
Whitehaven Partners
Project Name: Incoa Performance Minerals
Commodity: Calcium Carbonate
Country: Dominican Republic
Role: Structured Debt Advisory
Advised Whitehaven Partners in relation to the financing of the Incoa calcium carbonate project. The project involved the development of a calcium carbonate mine and associated infrastructure in the Dominican Republic and a processing facility located in Mobile, Alabama, USA. US$ 20.0m was raised with the Anglo Pacific Group and the remainder (undisclosed) with Orion Mine Finance. The funding involved both debt and a royalty instrument.
Mustavaaran Kaivos Oy
Project Name: Mustavaara
Commodity: Ferro-Vanadium, Iron, Ferro-Titanium
Country: Finland
Role: Valuation
Provided valuation services to Mustavaaran Kaivos Oy in relation to its equity raising activities for its Mustavaara iron ore and vanadium mine in Finland.
Anaklia Development Consortium
Project Name: Anaklia Deep Water Port
Commodity: Port
Country: Georgia
Role: Structured Debt Advisory
Advised the Anaklia Development Consortium on the US$ 500m financing of the Anaklia deep sea port project in Georgia. The consortium involved TBC Holding from Georgia, SSA Marine from the United States, British Wondernet Express working in Central Asia, and G-Star Ltd. from Bulgaria. The dispute between the Anaklia Development Consortium and the Government of Georgia is in arbitration at the International Chamber of Commerce in Geneva.
CONFIDENTIAL
Project Name: CONFIDENTIAL
Commodity: Gold, Silver
Country: Guatemala
Role: Structured Debt Advisory
Advised a TSX-listed entity in relation to the financing of its gold and silver project in Guatemala. Currently under strategic review.
Alliance Mining Commodities Ltd.
Project Name: Koumbia
Commodity: Bauxite
Country: Guinea
Role: PRI / Govt Negotiations
Supported the negotiation of the mining convention with the Government of Guinea on behalf of Alliance Mining Commodities Ltd. in relation to its Koumbia aluminium project in Guinea.
Alliance Mining Commodities Ltd.
Project Name: Koumbia
Commodity: Bauxite
Country: Guinea
Role: Structured Debt Advisory
Advised Alliance Mining Commodities Ltd. in relation to the debt and equity funding for its Koumbia aluminium project in Guinea.
Turquoise Hill Resources Ltd.
Project Name: Oyu Tolgoi
Commodity: Copper, Gold
Country: Mongolia
Role: Structured Debt Advisory
Advised Turquoise Hill Resources Ltd. in relation to sourcing and structuring the financing of the Oyu Tolgoi copper-gold project in Mongolia. Total project financing was in excess of US$ 4.4bn. At the time of financing, Oyu Tolgoi was the first project financing in Mongolia, and the largest project finance transaction completed in the mining sector. Financing was comprised of multiple ECA’s and commercial banks.
Ivanhoe Mines Ltd.
Project Name: Platreef
Commodity: PGM, Copper
Country: South Africa
Role: Structured Debt Advisory
Advised Ivanhoe Mines in relation to the project financing of its Platreef PGM project located in South Africa.
EcoGraf Limited
Project Name: Epanko
Commodity: Graphite
Country: Tanzania
Role: Structured Debt Advisory
Financial adviser to ASX-listed EcoGraf Limited in relation to its Epanko graphite project in Tanzania. The transaction is to involve a German raw materials guarantee (UFK cover) as part of the financing.
CONFIDENTIAL
Project Name: CONFIDENTIAL
Commodity: Graphite
Country: Tanzania
Role: Structured Debt Advisory
Advised an ASX-listed entity in relation to a US$ 25m project financing with Gemcorp Capital for the development of its Lindi Jumbo graphite project in Tanzania
CONFIDENTIAL
Project Name: CONFIDENTIAL
Commodity: Potash
Country: Brazil
Role: Structured Debt Advisory
Financial adviser in relation to the project financing of a potash mining project located in Brazil.
Lamitref Industries NV
Project Name: n/a
Commodity: Copper
Country: Germany
Role: M&A
Advised Lamitref Industries in relation to the disposal of its 100%-owned German copper subsidiary Mansfelder Kupfer and Messing GMBH (MKM). The 100% share purchase was completed by Kazakhstan copper producer Kazakhmys.
Giyani Metals Corp.
Project Name: K. Hill
Commodity: Iron Ore, Manganese
Country: Guinea
Role: Structured Debt Advisory
Provide a strategic review to Giyani Metals Corp. in relation to various funding options for its K.Hill manganese project in south-eastern Botswana.
Kinross Gold Corp.
Project Name: Tasiast
Commodity: Gold
Country: Mauritania
Role: PRI / Govt Negotiations
Advised Tasiast Mauritanie Limited S.A. (a subsidiary of Kinross Gold Corp.) in relation to obtaining a US$ 300m political risk insurance (PRI) policy from the Multilateral Investment Guarantee Agency (MIGA), a World Bank subsidiary, for its equity and shareholder loan investments into Tasiast Mauritanie Limited S.A.
Vanadium Resources Ltd.
Project Name: Steelpoortdrift
Commodity: Vanadium
Country: South Africa
Role: Structured Debt Advisory
Financial adviser to Vanadium Resources Ltd. in relation to the project financing of its Steelpoortdrift Vanadium Project in South Africa.
Magnis Energy Technologies Ltd.
Project Name: Nachu Graphite
Commodity: Graphite
Country: Tanzania
Role: Structured Debt Advisory
Financial adviser to Magnis Energy Technologies Ltd. in relation to the project financing of its Nachu graphite project in Tanzania.
PhosCo Ltd.
Project Name: Chaketma
Commodity: Phosphate
Country: Tunisia
Role: Structured Debt Advisory
Provided a financing strategy to PhosCo Ltd. in relation to its Chaketma phosphate project in Tunisia.
CONFIDENTIAL
Project Name: CONFIDENTIAL
Commodity: Coking Coal
Country: Australia
Role: Strategic Advisory
Advised a leading global steel company in the development of a coking coal strategy leading to the acquisition of a minority stake in a coking coal project in Australia.
Crew Minerals AS
Project Name: Mindoro
Commodity: Nickel
Country: Philippines
Role: Strategic Advisory
Advised Crew Minerals on the finalization of its MoU with Jilin Jien Nickel relating to the cooperative development of Crew’s Mindoro nickel project in the Philippines.
Cambrian Mining Plc
Project Name: Mount Gibson
Commodity: Iron Ore
Country: Australia
Role: M&A
Advised Cambrian Mining Plc. on the 2006 disposal of its 19.9% stake in the Mount Gibson iron ore project to the Metalloinvest Group.
RecovCo Ltd.
Project Name: RecovCo
Commodity: Alumunium
Country: United Kingdom
Role: Focused Equity Sourcing
Advised RecovCo, an aluminum recycling technology company, on its equity raising activities in relation to their ongoing operations as a designer and operator of aluminium reprocessing facilities based on rotary tilting furnace technology.
SNIM
Project Name: Guelb-el-Rhein
Commodity: Iron Ore
Country: Mauritania
Role: Structured Debt Advisory
Advised SNIM in relation to its US$ 712m debt raising for the expansion of the Guelb-el-Rhein iron ore project in Mauritania. The financing was Shariah-compliant and involved a consortium of eight leading financial institutions, including commercial banks and multinational institutions.
CONFIDENTIAL
Project Name: CONFIDENTIAL
Commodity: Iron Ore
Country: Mauritania
Role: Focused Equity Sourcing
Advised the state-owned mining company with the structuring and negotiation of a joint venture on one of its underground iron ore project developments.
China Metallurgical Group Corp.
Project Name: CONFIDENTIAL
Commodity: Nickel
Country: Papua New Guinea
Role: Structured Debt Advisory
Provided support in relation to the company’s nickel offtake agreement negotiations in South East Asia.
Tata Steel Ltd.
Project Name: Tata Steel
Commodity: Steel
Country: United Kingdom
Role: M&A
Advised Tata Steel in relation to the acquisition of the British-Dutch Corus Group.
Silver Point Capital
Project Name: Galvex
Commodity: Steel
Country: Estonia
Role: M&A
Advised Silver Point Capital in relation to the disposal of Galvex to ArcelorMittal.
CONFIDENTIAL
Project Name: CONFIDENTIAL
Commodity: Iron Ore
Country: Mauritania
Role: Focused Equity Sourcing
Advised the State-owned mining company on the sale of a 50% share in one of its iron ore projects.
CONFIDENTIAL
Project Name: CONFIDENTIAL
Commodity: Iron Ore
Country: Mauritania
Role: Strategic Advisory
Assisted with the management of a tender process to select an advisor charged with finding a partner for an iron ore company partly owned by the Mauritanian State.
Northland Resources SA
Project Name: n/a
Commodity: Iron Ore
Country: Finland
Role: Strategic Advisory
Advised Northland Resources SA through a strategic review of the company, and its Finnish and Swedish projects, providing further evaluation of financing alternatives.
IGE Resources AB
Project Name: IGE Resources AB
Commodity: Nickel, Gold
Country: Sweden
Role: Structured Advisory
Advised IGE Resources in relation to the raising of US$ 15m via a secured convertible credit facility with Waterton Global Value L.P.
CONFIDENTIAL
Project Name: CONFIDENTIAL
Commodity: Copper
Country: DRC
Role: Focused Equity Sourcing
Advised on the search for a strategic partner on a copper project
London, United Kingdom
Frankfurt, Germany
The Hague, Netherlands
Our Services
HCF provides financial advice to mining companies across the globe, ranging from structured debt and strategy, through to M&A and equity. See our Services.
ESG permeates all levels of a project and has become a core consideration for financiers and investors alike. At HCF, we advise clients on how best to navigate ESG standards, identify gaps and manage the development of an Environmental and Social Impact Assessment (ESIA). Learn more on Why ESG Matters.
Valuations and
M&A
Advice in structuring, negotiating and financing a wide variety of transactions:
- Asset Disposals & Acquisitions
- Joint Ventures & Mergers
- Non-public Valuation Advice to Support Corporate Transactions
Focused Equity
Sourcing
Sourcing equity investments on focused basis, as required to support our clients:
- Strategic Investors
- Offtaker Investment
- Private Equity / Financial Investors
Political Risk
Mitigation
Advice and assistance in relation to political risk mitigation:
- Negotiation of investment agreements and Mining Conventions directly with governments
- Multilateral Investment Guarantee Agency and (non-)commercial PRI cover for equity and debt
- DFI and ECA led transactions aimed at providing partial or full political risk mitigation
Strategic
Advisory
Industry-focused strategic advice:
- Financial Strategies
- Processing & Product Strategy
- Offtake Strategy
- Bid & Tendering Support
- Market Positioning
Structured Debt
Advisory
Independent advice to secure debt financing in support of construction:
- Project Finance
- Royalty, Streams, Offtake
- Mezzanine and Bridge Loans
- Corporate Debt
Who We Are
Diverse
Our team members are fluent in seven languages and originate from eight different countries. This dynamic blend brings unmatched diversity, global perspective and cultural understanding to drive success in all our business endeavours.
Committed
We are genuinely passionate about our work and place real value on developing lasting client relationships. We embrace the responsibility of providing the financial counsel needed to navigate mining projects from inception to operation.
Technical
Our team of bankers, engineers, geologists, and experienced board directors combines financial expertise with a strategic mindset and technical proficiency. From exploration to construction and operations, we are equipped to drive success in every phase of mining projects.
How We Work With Our Clients
Who We Work With
