Our global mining and metals team have vast experience in the sector and have represented many of the world’s leading players.
The team’s experience spans all aspects of the value chain and the corporate affairs of mining and metals houses including projects, development work, financings, corporate/M&A, competition, tax and environmental law. Our mining and metals practice has also consistently been ranked in the First Tier globally by the major legal directories.
In acting on a number of complex takeovers, acquisitions, disposals, project financings and listings, we have built a deep understanding of the challenges that our clients face in the market.
This experience allows us to offer our clients innovative legal solutions that help them to stay competitive during the good times as well as the more challenging. As the economic downturn has brought an end to the ‘super-cycle’ in commodity prices and reduced the availability of much needed credit, we were at the forefront of helping a number of mining and metals clients deal with distressed situations, debt refinancing’s and equity capital raisings. Linklaters also continues to advise both potential buyers and sellers during a period of consolidation in the sector and as the global IPO markets look to recover, we have advised on a number of listings on international stock exchanges. In fact, we have been involved in all significant recent IPOs (both single and dual listings) in the sector.
In your pursuit of the earth’s natural resources, we recognise that you will often operate in remote areas of the world. These countries often have legal regimes that are still under development and facing periods of significant political change. Our emerging markets practice is excellently placed to help our clients to develop risk mitigation strategies and has a proven ability to navigate through previously untested legal regimes. In some cases we have even been asked to assist with the drafting of amendments to local laws in order to facilitate major transactions. Complex, multi-jurisdictional transactions frequently require language skills to understand the intricacies of the transaction and execute the deal to the clients competitive advantage. Our multi-lingual mining team includes fluent Mandarin, Cantonese, Russian, French, Spanish and Portuguese speakers, enabling us to service our clients’ transactional needs all over the world.
A small selection of our recent work includes:
- Glencore on its US$70bn all share merger with Xstratathe acquisition of Viterra and the consolidation of Mutanda and Kansuki in the DRC
- Rio Tinto on its US$38.1bn recommended cash offer for Alcan Inc; on its defence against the US$147bn hostile takeover bid by BHP Billiton; on the intended strategic US$19.5bn investment in Rio Tinto by Chinalco; on its aborted joint venture with BHP Billiton for the entirety of their iron ore production operations in Western Australia, the US$15.2bn rights issue and the sale of a 61% stake in Alcan Engineered Products
- Anglo American on the US$5.1bn acquisition of the Oppenheimer family’s stake in De Beers; on the sale of Tarmac’s European aggregates, French building products and Polish pavers businesses and the US$1.34bn disposal of their zinc assets to Vedanta Resources; on their bond issue and their defence against the unsolicited approach by Xstrata
- Glencore International plc on their IPO and listing on the London and Hong Kong Stock Exchanges. This was the largest ever IPO on the premium listing segment of the London Stock Exchange and the first ever simultaneous London primary and Hong Kong secondary listing;
- Minmetals Resources Limited on the acquisition of Anvil Mining Limited (Toronto and ASX listed) for approx US$1.3bn
- The banks on the US$2.2bn dual listings in Hong Kong and Paris and Initial Offering by way of Global Placing for RUSAL Limited
- ArcelorMittal on the demerger of its stainless and speciality steels businesses by way of legal spin-off and listing of a new company called APERAM
- EVRAZ plc on its tender offer and re-domiciliation to the UK
- MMX Mineracao e Metalicos, the Brazilian mining company, on the US$2.3bn acquisition of LLX Sudeste Operacoes Portuaria and on the subscription of newly issued common shares by South Korea’s SK Networks
- Shandong Iron & Steel Group Co., Ltd on the acquisition of a 25% stake in AML’s Tonkolili iron ore mine and related rail, port and power infrastructure projects in Sierra Leone
“ Linklaters maintains its market-leading position thanks to a stellar client base and a spread of in-depth experience covering financings, IPOs and corporate transactions in the mining sector.”
Chambers 2012, Energy and natural resources: international mining
To discuss legal issues with Linklaters’ global mining team, please contact sector leaders Charles Jacobs, Tony Grimstone or Robert Cleaver.
Find out more about Linklaters’ mining capabilities from mining sector manager Fiona Heggie on (+44) 20 7456 2389.