28th June 2018
Linklaters is the legal advisor for MMG Limited’s conditional sale of its 90% interest in the Sepon mine in Lao PDR for the purchase price of US$275 million
- Linklaters acts for MMG, the Hong Kong listed subsidiary of the Chinese SOE, China Minmetals, on the conditional sale of the leading Lao copper mine, Sepon, to Chifeng Jilong Gold Mining Co Ltd
- The purchase price for the conditional sale is US$275 million, and continues Linklaters role as a leading advisor in the resources sector
Global law firm Linklaters is the legal advisor to MMG Limited (MMG) on the conditional sale of its 90% interest in Lane Xang Minerals (LXML) which owns the Sepon mine in Lao PDR.
MMG is a leading mid-tier global resources company that mines, explores and develops base metal projects around the world, and is the Hong Kong listed subsidiary of the Chinese SOE, China Minmetals Corporation, which is China's largest metal ore mining company.
The sale to Chifeng Jilong Gold Mining Co Ltd (Chifeng) remains subject to certain conditions. Provided those conditions are satisfied or waived, the sale would be expected to close later in the year. The Sepon mine, a landmark mining asset in the Lao resources space, is currently mined for copper but Chifeng also sees opportunities for gold mining at the site.
The Linklaters team advising MMG was led by Craig Dally, Corporate partner for Linklaters, based in Hong Kong and Australia. Craig said: “MMG are a terrific global resources player and we are pleased to have advised them on the sale. The Sepon mine has contributed significantly to both the broader Lao economy, as well as to the local community’s development. We are proud to have supported the transition of the asset to its next phase.”
The conditional transaction continues Linklaters role as a leading advisor in the mining sector. The firm’s team advises the world’s leading mining companies and financial institutions on a range of complex transactions across the mining sector. They have unrivalled sector knowledge and expertise and provide their clients with commercial solutions in all the world’s major mining regions, dealing with both local and international legal issues.