BLP’s international mining & metals practice fields a team of lawyers with experience in all aspects of transactions involving the mining sector. We deliver a fully integrated legal service – from exploration through to mine development and production to end buyer – with a deep understanding of the legal and practical challenges that the industry faces when operating in developing or emerging markets.
Our clients include major publicly traded and other mining companies. BLP has also advised a number of mining private equity funds and sovereign wealth funds. BLP’s team also has considerable experience in advising investment banks and brokers specialising in the sector. Team members are based in London, Singapore, Moscow, Hong Kong and Dubai and have advised on major sector related transactions involving opportunities in Africa, Indonesia, Russia and the former CIS countries, Mongolia, South America and elsewhere in the world.
Together, the members of our team have worked on mining transactions in over 25 jurisdictions, and have extensive experience within the following commodities:
Advised Numis Securities, Investec Bank and Australian broker Paterson Securities in the successful $150m equity fundraising, by Australian mining firm Wolf Minerals, to fund the development of the Hemerdon Tungsten-Tin Project in Devon. This was the first metals mine to open in the UK in the last 40 years.
Advised International Mining and Infrastructure Corporation (IMIC), on its proposed US$190m acquisition of Afferro Mining (Afferro). The consideration is being part funded by a facility from Bank of America Merrill Lynch.
Both companies are AIM, listed with Afferro also having a listing on the Toronto Stock Exchange. Afferro owns several iron ore projects in Cameroon.
Advised on the £150m sale of old UK coal assets by the Pension Protection Fund (“PPF”) to Coalfield Resources. The assets sold amounted to 75.1% of Harworth Estates Property Group. Coalfield already owned the remaining proportion, providing them with 100% of the assets. The PFF received a 25% stake in Coalfield and received a significant cash sum.
Advised Peel Hunt and GMP Securities Europe in relation to a $22m institutional placing by Amara Mining, a significant raising for a pre-production gold company. Amara Mining is a gold developer with assets in West Africa.
Advised Peel Hunt in relation to a $10.5m institutional placing by Shanta Gold, an AIM listed mining company with a producing gold mine in Tanzania.
Advised Prairie Mining on its standard listing on the Main Market of the London Stock Exchange. Prairie Mining is developing the Lublin Coal project in Poland and had agreed an up to A$83m capital injection from mining private equity fund, CD Capital.
The Prospectus, which was prepared in support of the London listing, was also passported into Poland in support of a listing on the Warsaw Stock Exchange (WSE), which made Prairie the only Australian Securities Exchange, LSE and WSE listed company.
Advised Peel Hunt as Nomad in connection with the proposed cash and shares takeover offer by Coal of Africa Limited (‘CoAL’), an Australian incorporated company listed on AIM, the JSE and ASX, for Universal Coal plc. The offer would have triggered a reverse takeover of CoAL and required the publication of an AIM Admission Document. The offer placed an implied value of approximately US$90 million on the target. Peel Hunt is the fifth investment bank BLP have advised on CoAL matters.
Advised Ncondezi when it signed a non-binding Memorandum of Understanding with Shanghai Electric Power Company Limited ("SEP") to progress and agree a transaction where SEP could potentially become the controlling shareholder in the "Ncondezi Power Project". Ncondezi Energy Limited holds a large coal resource in Mozambique.
We continued to act for Ncondezi in connection with the proposed SEP investment, including on joint venture, Chinese law and project finance aspects. Chinese law support being provided by our Hong Kong office.
BLP has also acted on a number of placings, open offers and facilities for Ncondezi, including the equity investment by the Africa Finance Corporation in 2014.
BLP advised a strategic investor on its $100m investment in main market listed Kenmare Resources. This investment cornerstoned Kenmare’s $275m and up to $360m equity fundraise and $396m debt restructuring. The investment completed in July 2016.