The global mining sector involves the exploration and extraction of natural resources (from iron ore, coal and base metals to uranium, precious metals & minerals and gemstones) for use in the industrials sector.
The world’s major mining companies and their financiers have relied on Linklaters’ expertise in structuring and executing many of the highest profile mining deals of recent times. Our clients benefit from our comprehensive mining sector expertise across the fields of projects, finance, corporate, competition, tax and environmental law. Linklaters’ pre-eminence across the sector has allowed the firm to act on a market leading sequence of mining transactions, including takeovers, acquisitions and disposals, project developments and financings, corporate financings and listings on the London and Hong Kong Stock Exchanges.
Deals often take place in countries with developing legal regimes which are seeing significant political change. Clients benefit from our extensive emerging markets practice, our experience of risk mitigation strategies and a proven ability to navigate through previously untested legal regimes. We have a long standing track record in all the world’s major metals and mining regions, including Africa, the Americas, Asia, Australia and Central and Eastern Europe – dealing with both local and international legal issues.
The economic downturn has ended the current super-cycle in commodity prices and cut the availability of much needed credit. Linklaters is now helping its mining clients with distressed situations, refinancing of debt and rights issues, as well as the joint ventures and alliances that are likely to accompany the ongoing consolidation in the sector.
As interest in the global mining IPO market has returned, we have ensured roles in all recent key mining listings.
For further facts and figures about our successful Mining sector click here.
Recent mining transactions include advising:
- Anglo American on their disposal programme of non-core assets, including the sale of Tarmac's European aggregates, French building products and Polish pavers businesses and the US$1.34 billion disposal of their zinc assets to Vedanta Resources; as well as on their bond issue and their defence against the unsolicited approach by Xstrata
- AREVA in relation to the Central Jordan uranium mining joint venture with the Government of the Hashemite Kingdom of Jordan
- Aquarius Platinum Limited on its placing, rights issue, convertible bond issue and pre-conditional offer for Ridge Mining plc
- BNP Paribas and Credit Suisse on RUSAL's US$2.2 billion global offering coupled with concurrent new listings in Hong Kong and Paris, being the first Russian headquartered company to list in Hong Kong<
- Eldorado Gold Corporation on its US$1.9 billion acquisition of Sino Gold Mining Limited
- Glencore on a US$2.2 billion convertible bond offering and on its US$7.465 billion debt financing
- JPMorgan Cazenove Ltd and Deutsche Bank on rights issues for Xstrata
- JPMorgan Cazenove Ltd on the IPO of African Barrick Gold Corporation, the world’s largest gold producer
- Kazakhmys PLC on a joint venture with Jinchuan Group Ltd of PRC to develop the Group's major copper growth project at Aktogay and on the US$2.7 billion financing for the development of infrastructure and resource projects in Kazakhstan
- Korea Electric Power Corporation and Korea Hydro & Nuclear Power Co. on its acquisition of a stake in Areva’s Imouraren uranium mine development in Niger
- Kumba Iron Ore Limited on the establishment of a joint venture with two Guinean project companies holding iron ore exploration permits in the Republic of Guinea. This was Kumba’s first investment in the country
- Rio Tinto on a series of strategic projects: on its US$38.1 billion recommended cash offer for Alcan Inc; on its defence against the US$147 billion hostile takeover bid by BHP Billiton; on the intended strategic US$19.5 billion investment in Rio Tinto by Chinalco; on its joint venture with BHP Billiton for the entirety of their iron ore production operations in Western Australia, the US$15.2 billion rights issue, as well as most recently the sale of a 61% stake in Alcan Engineered Products to funds affiliated with Apollo Global Management, L.P. and the Fonds Strat
égique d’Investissement; this transaction is in line with Rio Tinto‘s strategy of divesting non-core assets and follows the successful divestment of the composites division of the Engineered Products business in 2009;
- more than 30 banks in relation to the restructuring of Mechel’s debt, one of Russia’s largest metals and mining companies
Contact us
To discuss legal issues with Linklaters’ global mining team, please contact sector leaders Charles Jacobs, Andrew Jones, Chris Kelly or Robert Cleaver.
Find out more about Linklaters’ mining capabilities from mining sector manager Fiona Heggie on (+44) 20 7456 2389.
