Photo courtesy of Mayer Brown
The Trump administration’s push to secure the country’s critical mineral supply chain has meant a flurry of work for the small group of lawyers who specialize in financing these projects, like Mayer Brown’s Meaghan Connors.
The Houston-based lawyer recently represented Mesabi Metallics in two major financing deals worth $670 million, to complete a plant that can produce direct-reduction-grade iron ore pellets — a growing segment of US steel production. She also led Mitsubishi’s $600 million stake in in Hudbay’s Copper World project. Here, Connors shares her thoughts on government investment in mining, permitting changes, and doing deal work from Texas.
This conversation has been edited for length and clarity.
What financing trends related to mining are you watching this year?
There’s now this government investment in so many US projects that is very new. And the US government, in a number of these projects, is actually taking an equity stakeholder role.
It’ll be really interesting to see how the government investment maybe accelerates mining projects that traditionally would have taken a lot longer. The US is known for having a very slow permitting process. This administration has also looked at how to expedite permitting for mining projects. And so, hand in hand with the government investment and this new, more streamlined, some might say, permitting process, it’ll be interesting to see how much faster projects can get online in the US.
Are there other game-changing policies that you’re watching this year?
The US government put out a new National Environmental Policy Act handbook, which is more of a set of guidelines versus a mandatory framework. US mining lawyers are trying to figure out how we keep our practice moving forward and learn all the new things coming out of the Trump administration, but also take more of a thoughtful approach with each project to make sure that we’re being mindful of how the new regulations fit into each of the projects.
What’s most challenging about doing this work in Texas right now?
The thing about being in Texas, it never really stopped me before from doing this work. I will say, because I do travel a lot, there are a number of conferences that I traditionally go to that aren’t in Texas. But generally, I haven’t seen much of an issue with being in Texas and still doing all these deals across the US.
Where is the best barbecue in Texas?
In Houston, I really like The Pit Room. I like Pinkerton’s. I love barbecue. I like Pappa’s. My husband, during Covid, learned how to barbecue. He’s a smoker and he does all different types of meat now and has really perfected it, so we’re lucky.
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Learn More: Mitsubishi to Invest $600 Million in Hudbay Copper Project