Phil Breaden
Managing Director
SF Fin, FAICD, MAusIMM, MAIME
BEng (Mining)(Hons 1),
MBA,
SIA Diploma,
AICD Pass with Order of Merit,
NSW Certified Mine Manager.
Phil Breaden has over 35 years of resources industry and finance experience over a wide range of commodities, including
valuation, financial modelling, strategic advice and project finance.
The breadth of this experience is shown in the following table:
| Industry | Finance | Valuation | Advice | Modelling | |
| Aluminium |
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| AlF3 |
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| Coal |
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| Coal Seam Methane |
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| Diamonds |
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| Ethanol |
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| Expert Evidence |
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| Forestry |
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| Gold |
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| Infrastructure |
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| Iron Ore |
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| Magnesium |
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| Nickel |
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| Oil/Gas |
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| Paper/Pulp |
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| Power |
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| Property |
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| Rail |
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| Salt |
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| Specialty Steel |
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| Ag/Pb/Zn/Cu |
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Particular industry experience has been obtained as follows:
| 1997 to Present |
Consultant Confidential Assist a client prepare submissions for Government support for a pumped hydro project in South Australia. Confidential Assist Harris Scott Pty Ltd advise a client on its potential export iron ore and infrastructure project in Western Australia. Confidential Assisted a client and its financial advisor prepare the financing component and obtain letters of financial support for the potential purchase of the Loy Yang B Power Station in Victoria. King & Wood Mallesons Prepared an independent expert report in 2015 for the Supreme Court of NSW in relation to the availability and conditions likely to be imposed on a project finance debt facility for a bulk oil import terminal at the Port of Mackay in Queensland. Wiggins Island Coal Export Terminal Pty Ltd Acted from May 2008 until June 2014 as Commercial Director to assist a consortium of 18 coal companies construct a new 80+Mtpa coal export terminal in the Port of Gladstone, Queensland since 2008. Role included negotiating agreements with the State of Queensland, Gladstone Ports Corporation (as lessor and operator), and the consortia, along with Queensland Rail and other infrastructure providers. Phil assisted in arranging US$2.9 billion and A$1.15 billion of finance for Stage 1 of the Terminal in 2011, and subsequently advised on financing options for the first proposed expansion of the Terminal. The WICET financing has won numerous awards. Newcastle Coal Infrastructure Group Acted from 2007 to early 2013 as Commercial Director to assist in the raising the necessary project finance for initial construction and expansion of the new coal export terminal in Newcastle. The first stage of the Project was financed in 2008 ($1.6billion) with operations commencing in 2010. Role included negotiating draft term sheets and documentation with Shareholders, assisting the Arranger prepare the Information Memorandum and negotiate terms and documentation with various financiers, prepare reports to the Board and coordinate Financial Close. Subsequently assisted the Arranger raise US$2 billion and A$890 million to refinance Stage 1 Senior Debt and construct Stage 2AA, arranged with the assistance of three lead banks, US$1.4 billion to construct Stage 2F in 2011, assisted in the issue of US$325 million in term notes into the US Private Placement market in 2012, assisted in refinancing the Senior and subordinated secured debt with a US$1.7 billion corporate debt facility in 2014, assisted in preparing and revising the company's long term financing strategy, and assisting in negotiating an "amend and extend" with the Senior debt financiers in 2015. The NCIG financings have won numerous awards. Previously, had prepared the financial section of the Feasibility Study which included financial modelling and projection of usage charges. White Energy Limited Prepared reports on the financial viability of proposed coal upgrading projects in Indonesia, China and the USA. Ashton Coal Project Arranged a $100M project finance facility for the project's underground development. Role included financial modelling, term sheet drafting, preparation of the Information Memorandum, liaison with the independent engineer, bank negotiations and assistance with documentation. Mid-Cap Australian based international oil company Assisted Origin Capital arrange a US$60 million borrowing base debt facility (not executed). Asia Pacific Tubes Limited Advice in relation to the company's proposed Seamless Tube Project in SE Queensland. Felix Resources Limited Advice on financing options and assistance in developing a corporate financial forecast. Ashton Coal Project Advice on negotiations for taking over mining operations from HWE and arranging finance to acquire the associated mining plant and equipment. Sydney Gas Limited Advice on bank relations and data availability. Westpac Institutional Bank Various project finance and advisory assignments. Hunter Specialty Steel Limited Advice in relation to the company's proposed Specialty Steel Project in the Hunter Valley. Thiess Pty Limited Advice in relation to the financial structure of a tender for the Victorian County Courts Project and the potential development of an ethanol project on the Darling Downs. Hope Downs Management Pty Limited Advice in relation to use of third party owned infrastructure for the Hope Downs Iron Ore Project. Magnesium International Limited Preparation of the financial model for MIL's magnesium smelter project. Cairn Energy Asia Limited Advice on joint venture and Government contractual arrangements for the Ravva offshore oil and gas project in India. Energy Equity Corporation Limited Advice on joint venture contractual arrangements for a major offshore gas and onshore power station in India. |
| 1994 to 1997 |
Cairn Energy Asia Limited (formerly Command Petroleum Limited) Manager Corporate Finance. Responsible for evaluation of new investment opportunities and financing the Ravva Offshore Oil and Gas Project in India. |
| 1981 to 1994 |
Bankers Trust Australia Limited Associate Director. Valuation, financial appraisal and financial structuring of resource projects with particular emphasis on computer modelling and complex financial arrangements. |
| 1980 to 1991 |
Lend Lease Engineering Pty Ltd Economic and mining assessment of major resource projects. |
| 1978 (summer) |
Australian Graduate School of Management Marketing of AGSM Annual Report File on microfiche. |
| 1975 to 1978 |
New Broken Hill Consolidated Ltd/Zinc Corporation Ltd Underground daily paid employee, shiftboss, ventilation, mining investigations, budgets and statistics. |
| 1973 |
Bougainville Copper Pty Ltd Student Mining Engineer, mine production and short range planning. |
| 1972 (summer) |
Hamersley Iron Pty Ltd Student engineer (mine planning), blast labourer. |
| 1971 (summer) |
Bellambi Coal Company Ltd Underground shiftman. |
In addition, Phil was a task force member, lecturer and marker for the FINSIA (formerly the SIA) for over 15 years in corporate finance, mining investment analysis and project finance subjects.
From 1999 to 2003 Phil was Seminar Leader for the Project Finance subject in the Masters degree course, both lecturing and setting/marking assignments and exams for that course.
Papers and Publications
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2012 Download (1786k) |
Deutsche Bank Australian Coal Corporate Day 16 May 2012 "Wiggins Island Coal Export Terminal" |
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2012 Download (106k) |
APLMA Project Finance Conference 7 March 2012 "Resource Infrastructure Challenges and Opportunities in 2012" |
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2011 Download (1312k) |
UBS Coal & Iron Ore Seminar 15 November 2011 "Wiggins Island Coal Export Terminal" |
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2011 Download (860k) |
Resources Export Infrastructure Conference Resourceful Events, 13-15 September 2011 "Wiggins Island Coal Export Terminal" |
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2010 Download (681k) |
UBS Coal & Iron Ore Seminar 17 November 2010 "Wiggins Island Coal Export Terminal" |
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2003 |
"Project Finance and Financial Modelling" CITIC Publishing House, Beijing with Paul Rintoule and Fuhu Zheng, ISBN 7-80073-839-6/F . 546 (Chinese) |
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2003 Download (75k) |
The 2nd Annual Australian Coal Seam and Mine Methane Conference IBC Conferences, 19-20 February 2003 "When is Debt Equity? Recent developments in CSM finance." |
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2002 Download (130k) |
The Australian Coal Seam and Mine Methane Conference IBC Conferences, 25-26 June 2002 "Project finance for coal seam methane developments – An Australian bank perspective" (with John Alexander) |
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2001 Download AusIMM (430k) Download AIG (200k) |
The AusIMM Bulletin, Issue No. 6, November/December 2001 AIG News (Australian Institute of Geoscientists) No. 66, November 2001 "The JORC Code - A Bankers View" (with Quentin Amos) |
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2001 Download (1.3MB) |
JASSA Issue 4, Summer 2001 "Banking on the JORC Code" (with Quentin Amos) |
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1989 Download (600k) |
Annual Conference, AusIMM "Financing the Channar Iron Ore Project" (with Jon Parker) |