Erik Goldsilver is a partner in the Securities and Capital Markets Group at Borden Ladner Gervais LLP with specific expertise in the mining, natural resources and energy sectors. He regularly acts for Canadian and international mining companies on acquisitions and dispositions of mines, mining projects and mining companies; project development; and mine operations in Canada and throughout the world. Erik also advises on the structuring and negotiation of option and joint venture agreements, shareholder agreements, royalty arrangements, offtake agreements and streaming agreements.
Erik has extensive experience with all legal aspects of the development, construction and operation of mining projects, including advising on environmental and regulatory compliance matters, permitting issues and mine closure, decommissioning and reclamation issues. He advises mining clients on First Nation/Inuit exploration agreements, impact benefit agreements and other commercial agreements for mine exploration and development and other infrastructure requirements. Erik also advises clients on energy-related issues, such as power procurement, interconnection and transmission services.
Representative mining transactions or projects in which Erik has been involved include:
- Acting for Lundin Mining Corp. on the purchase of the Eagle Mines nickel-copper project in Michigan for US$325 million
- Acting for Silver Wheaton Corp. in its purchase of life of mine silver and gold production from HudBay Minerals Inc.’s 777 Mine in Canada and Constancia Project in Peru for total cash consideration of US$750 million
- Acting for Yamana Gold Inc. in the US$310 million option of its Agua Rica project in Argentina to Minera Alumbrera Limited
- Acting for Paladin Energy Ltd. in the negotiation of a six year off-take agreement with a major utility to deliver a total of 13.73Mlb U3O8 and a US$200 million prepayment agreement
- Acting for New Gold Inc. in the US$53 million sale of its Amapari Mine in Brazil to Beadell Resources Limited
- Acting for IC Potash Corp. in the completion of its $40 million strategic investment and offtake agreement with Yara International ASA
- Acting for Silver Wheaton Corp. in its purchase of 25% of the life of mine silver production from Barrick Gold Corporation’s Pascua-Lama project in Argentina and Chile, and 100% of the silver production from Barrick’s Lagunas Norte and Pierina mines in Peru and Barrick’s Veladero mine in Argentina until the end of 2013
- Acting for Yamana Gold Inc. in the US$200 million sale of its Sao Francisco and Sao Vicente mines in Brazil and its San Andres mine in Honduras
- Acting for Silver Wheaton Corp. in its purchase of 100% of the life of mine silver and gold production from Augusta Resource Corporation’s Rosemont Copper Project located in Pima County, Arizona for total consideration of US$230 million
- Acting for Kinross Gold Corporation in the negotiation of a US$116 million option agreement to earn up to a 70% interest in Linear Gold Corp.’s Ixhuatan Project in Chiapas State, Mexico
Representative energy transactions or projects in which Erik has been involved include advising:
- The Government of Ontario on the transfer of assets from the former Ontario Hydro to its successor companies
- Municipalities in the restructuring and disposition of electricity utilities
- Industrial and commercial electricity consumers on power purchase agreements
- Enwave District Energy Limited on the construction and implementation of its Deep Lake Water Cooling Project
- The City of Toronto as the sole shareholder of Toronto Hydro Corporation in connection with an initial public offering of debt securities by Toronto Hydro Corporation
- The City of Toronto in connection with the monetization of a $490 million promissory note issued by Toronto Hydro Corporation and the secondary offering of Toronto Hydro Corporation debentures
- DeBeers Canada on matters pertaining to the supply of electricity transmission services (including interconnection services and upgrades to existing transmission facilities) from Hydro One Inc. and Five Nations Energy Inc. for its Victor Mine in Northern Ontario
- The City of Hamilton as the sole shareholder of Hamilton Utilities Corporation and the merger of Hamilton Hydro Inc. with St. Catharines Hydro Utility Services Inc.
- Ventus Energy Inc. on the sale of wind-generated electricity from facilities in Nova Scotia, New Brunswick and Prince Edward Island