In an era of soft commodity prices, complex greenfield projects to access remaining tier one reserves, and national resource owners seeking greater direct ownership and involvement in asset development, joint ventures remain a critical tool for metals and mining companies to access opportunities, leverage key skills, spread cost, and share risk. Our data shows that the largest mining companies depend on joint ventures for more than 10% of their current metals output, and have dozens of material ventures that are either operated by a partner or by an independent management team.
In serving industry clients, Water Street Partners brings a unique blend of experience in structuring some of the world’s largest mining ventures with a deep appreciation for the ongoing challenges of governance of joint venture partners across a project's lifecycle. We work with clients on structuring and restructuring joint ventures. We support current JV board members and CEOs in improving governance, organizational and owner-interface issues, and help manage venture transitions, such as the introduction of new owners or the shift into a new phase of development. We also work with individual company asset teams in non-operated ventures to develop influencing strategies and plans, and to help calibrate the necessary resource input into overseeing the Operator.
We have found that our work with existing ventures allows us to better anticipate and address post-close risks within the design and structuring of new mining partnerships – as well as restructuring. Water Street Partners has also been at the forefront of supporting global metals and mining companies on governing their portfolio of joint ventures. Our Standards for JV Portfolio Management Excellence, co-developed with the leading companies in the industry, have become the accepted yardstick for portfolio excellence.
Water Street Partners helps global integrated metals and mining companies, national companies, and mid-tier explorers and producers around the world to structure, restructure, and govern their most important joint ventures. Our work spans joint ventures involving bauxite, copper, iron ore, nickel, gold, diamond, coal, and platinum mines, as well as refineries, smelters, and mills processing raw input, and global trading and sales. Over the last five years, we have served five of the eight largest global integrated metals and mining firms, plus a variety of firms focused on individual metals. Our work spans JVs in Africa, the Middle East, South America, and Europe, as well as the U.S. and Canada. We have advised on structuring, restructuring, or otherwise improving five of the ten largest copper mines, four of the ten largest platinum mines, and some of the largest coal mines, diamond mines, and alumina smelters in the world.
Minerals Worked On, By Country (2008-2016):