mining - bowmans · agreement support, we have the necessary ... new zar 13.5 billion...
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MINING
BOWMANSBOWMANS
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Mining
Contents
04 OurFirm
05 OurFootprintinAfrica
06 OurMiningSector
07 OurSpecialistServices
08 OurSignatureMatters
10 Accolades
12 KeyContacts
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Our Firm
WithsevenofficesinfiveAfricancountriesandover400specialisedlawyers,we
drawonouruniqueknowledgeofthebusinessandsocio-politicalenvironmenttoadviseclientsonawiderangeoflegalissues.
Everywherewework,weofferclientsaservicethatuniquelyblendsexpertiseinthelaw,knowledgeofthelocalmarketandanunderstandingoftheirbusinesses.Ouraimistoassistthemtoachievetheirobjectivesassmoothlyandefficientlyaspossiblewhileminimisingthelegalandregulatoryrisks.
Ourclientsincludecorporates,multinationalsandstate-ownedenterprisesacrossarangeofindustrysectorsaswellasfinancialinstitutionsandgovernments.
Ourexpertiseisfrequentlyrecognisedbyindependentresearchorganisations.WewererankedfirstbydealvalueandsecondbydealcountinMergermarket’s2018Africaleaguetablesforlegaladvisors.WereceivedawardsinfiveoutofsixcategoriesattheDealmakersEastAfricaAwardsfor2018:toplegaladviserinM&Aforbothdealflowandvalue,toplegaladviserinGeneralCorporateFinanceforbothtransactionflowandvalue,andadvisedontheDealoftheYear.IntheDealmakers SouthAfricaAwardsfor2018,wewereplacedfirstfordealflowintheGeneralCorporateFinancecategory.
WewerenamedSouthAfricanLawFirmoftheYearfor2018intheChambersAfricaAwardsforExcellence.Wealsoreceivedthe2019awardsforTransportationandInfrastructureTeamoftheYearandTMTTeamoftheYearattheAfricanLegalAwardshostedbyLegal Week andtheCorporateCounselAssociationofSouthAfrica.
Bowmans exists to help our clients overcome legal complexity and unlock opportunity in Africa. Our track record of providing specialist legal services, both domestic and cross-border, in the fields of corporate law, banking and finance law and dispute resolution, spans over a century.
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Our Footprint in Africa
WeprovideintegratedlegalservicesthroughoutAfricafromsevenoffices
(CapeTown,DaresSalaam,Durban,Johannesburg,Kampala,MokaandNairobi)infivecountries(Kenya,Mauritius,SouthAfrica,TanzaniaandUganda).Weworkcloselywithouralliancefirm,AmanAssefa&AssociatesLawOffice,inEthiopia,andourbestfriendsinNigeriaandMozambique(UdoUdoma&Belo-OsagieandTacianaPeãoLopes&AdvogadosAssociados,respectively).WealsohavestrongrelationshipswithotherleadinglawfirmsacrosstherestofAfrica.WearerepresentativesofLexMundi,aglobalassociationwithmorethan160independentlawfirmsinallthemajorcentresacrosstheglobe.Thisassociationgivesusaccesstothebestfirmsineachjurisdictionrepresented.
Mozambique
Kenya
Tanzania
South Africa
Nigeria
Uganda
Mauritius
Best friends
Bowmans offices
Significant transaction or advisory experience
Alliance firms
Ethiopia
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Our Mining Sector
Asthelong-termdemandforAfrica’sresourcesgrows,weanticipateagrowingdemandforrelatedlegalservices.
Wehaveastrongrecordofactingonthemostsignificantmining-relatedmergersandacquisitionsacrosstheAfricancontinent.Wesupportourclientsthrougheveryaspectofminingandresourcerelatedtransactionsfromtheinitialduediligencethroughregulatorycompliancetonegotiatingandclosingthedeals.Wehavealsoadvisedonsomeofthelargestandmostinnovativedebtandequitycapitalmarkettransactionsonthecontinent.
Weareabletoco-ordinateourservicethroughasinglepointofcontactofferingaseamlessserviceandmakingtheexecutionofcross-bordertransactionslesscumbersome,time-consumingandcostly.
Whetherclientsarenegotiatingofftakes,supplysidecontractsorrequireday-to-daycommercialagreementsupport,wehavethenecessarydepthofexpertiseandskillstoassist.
Weregularlyadviseclientsonallmattersrelatingtolocalmininglegislation,includingbutnotlimitedtocompliance,miningtitleandotherlegalopinions,applicationsandacquisitionsofrights,reviewapplications,appealsandduediligences.
Wehaveassistednumerousclientsontheinteractionofenvironmentalandmininglegislation,includinglicensing,appealsandcourtreviewsoflicensingdecisions.
Wehaveexperienceinsuccessfullyobjectingtothegrantofprospectingorminingrightapplicationsandpursuingappealsagainstdecisionsregardingthegrantorrefusalofminingandprospectingapplications.
Ourexperienceextendstomineincidentandaccidentenquiries,dealingwithnotificationsandassistingwithlegalcomplianceassociatedwithhealthandsafety.
Ourclientsincludeglobalminingandresourcescompanies,investors,banksandfinancialinstitutions,state-ownedenterprisesandvariousgovernmentdepartmentswithintheminingandresourcessector.
We have established
ourselves as a leading
legal adviser within
the mining industry in
Africa and offer a full
complement of legal
services in this sector.
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Our Specialist Services
WeregularlyadviseclientsonallmattersrelatingtolocalminingandresourcesandrelatedlegislationacrosstheAfricancontinent,includingbutnotlimitedto:
• seniorandstrategiclocalgovernmentandlocalregulatorengagementsinAfrica;
• mergersandacquisitions,jointventuresandjointoperatingagreements;
• capitalmarketstransactions;• advisingborrowersintheminingand
resourcesindustryandfinanciersonminingfinancetransactions;
• draftingofcommercialminingandresourcescontracts,suchascontractmining,offtakeandsupplyagreements;
• environmental,occupationalhealth-and-safetyandminingregulationissuesinAfrica;
• indiginisationandblackeconomicempowermentintheminingandresourcesindustryinAfrica;
• variousregulatoryapplicationsinAfrica,includingapplicationsforthegrantofmineralrights,applicationsfortheMinister’sconsenttotransfermineralrightsandapplicationstoamendmineralrights;
• appealorreviewproceedings;• collectivebargainingandunion
reorganisationandretrenchmentandgenerallabourlawprocedures,processesandappearances;and
• draftingofminingtitleandtransferabilityopinionsandconductingduediligenceinvestigationsonminingtitles.
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“Bowmans has
continued its emergence
and now has a hugely
impressive client base”.
– Legal 500, 2018
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Someofournotableexperienceintheminingandresourcessectorincludesadvising:
• AfricaBarrickGold(nowAcaciaplc)withrespecttonumerousregulatory,compliance,environmentalandemploymentlawmattersaffectingAcacia'sgroupofminesinTanzania(includingBulyankuluMine,BuzwagiMineandNorthMaraGoldMiningLtd);
• AfricanRainbowMineralsLtd(ARM)ontheproposedrestructuringoftheARMBroad-BasedEconomicEmpowermentTrust.ThisinvolvedaspecificrepurchasebyawhollyownedsubsidiaryofARMof12717328millionsharesinARMfromtheARMBroad-BasedEconomicEmpowermentTrustandtherefinancingoftheARMBroad-BasedEconomicEmpowermentTrust.ThistransactionwasvaluedatZAR1.9billion;
• AfricanRainbowMineralsonitsjointventurewithValeforminingassetsinDemocraticRepublicoftheCongo,Mozambique,NamibiaandZambia;
• AngloGoldAshantiLtdinrespectofitsproposedrestructuring(demerger)ofthecurrentportfolioofAngloGoldAshantiintoseparatelistedvehiclesforeachofitsSouthAfricanandinternationalminingoperations.Theproposeddemergerwascoupledwithaproposedrightsoffer,bothofwhichwerewithdrawnfollowinglackofshareholderappetite(totaldealvalueofUSD7.1billion);
• AssmangLtd,SumitomoCorporationandChinaSteelCorporationinajointventure,inrespectoftheconstruction,commissioningandoperationofhighcarbonferromanganeseand/orsilico-manganesesmeltingplantinSarawak,MalaysiawithavalueofZAR3.3billion;
• BankofChinaLtd,FirstRandBankLtd,NedbankLtd,ABSABankLtd,InvestecBankLtd,JPMorganChaseBankandStandardBankofSouthAfricainthenegotiationandconclusionofaZAR4.5billionsecuredtermandrevolvingfacilitycomprisingaZAR2.5billionrevolvingcreditfacilityandaZAR2billiontermloanfacilityprovidedtoSibanyeGoldLtd,acompanylistedontheJSELtd;
• BarrickGoldCorporation(Canada)inthedisposalofthreeofitsminesinWesternAustraliatoGoldFieldsLtd,wheretheconsiderationreceivedwaspartcashandpartsharesinGoldFieldsLtd;
• BMONesbittBurnsInc,CIBCWorldMarketsInc,MacquarieCapitalMarketsCanadaLtd,RBCDominionSecuritiesInc,MerrillLynchCanadaInc,GMPSecuritiesLP,RaymondJamesLtdinrespectofapublicofferingof95834100unitsforanaggregateamountCAD143751150byCanadianminingcompany,IvanhoeMinesLtd;
• AmajorCanadianfundonitsinvestmentintominingassetsinBurkinaFasoandMali.WeconductedafullduediligenceonboththeBurkinabéandMalianassetsandprovideddetailedopinions;
• CreditSuisseAGandStandardCharteredBank(jointly),asSouthAfricanandEnglishleadcounsel,inthedebtandequityrestructureofaSouthAfricanminingcompany,Southgold,anditsCanadianparentcompany;
• DodsalResourcesFZCOwithrespecttonumerousregulatory,compliance,environmentalandemploymentlawmattersaffectingtheirtwominingcompaniesinTanzania–DodsalResourcesMiningItilimaandDodsalResourcesMiningItingi;
Our Signature Matters
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• ENRCNVinthesaleof51732782ordinarysharesheldinNorthamPlatinumLtd(constitutingapproximately13.01%ofNortham’sissuedsharecapital),followedbyabookbuildinrespectofsuchshareswhichresultedintheplacementofallofthesharesheldbyENRCNV(dealvalueapproximatelyZAR2.5billion);
• SouthAfricancounseltothejointbookrunnersinrelationtoGoldFieldsLtd’srecentacceleratedbookbuildshareplacementvaluedatZAR2.3billion;
• TheGovernmentofGuinea(togetherwithinternationalcounsel)ontheUSD18billionSimandouIronOreProject.Wereviewedallaspectsoftheproject,fromcorporatetoenvironmentaltoemploymentlaw;
• Hulamininrespectoftheestablishmentoftheblackeconomicempowermententity,IsizindaAluminium(Pty)Ltd,andthesubsequentacquisitionofBHPBilliton'sBaysidecasthouseintheRichard'sBayindustrialdevelopmentzone;
• CompetitioncounseltoKomatsuLtdinitsacquisitionofindirectsolecontrolofJoyGlobal,Inc.Weattendedtothemergerfilinginrelationtothistransaction.ThedealisKomatsu'slargestdealeverandonceitiscompleted,Komatsuanditsclosestcompetitorwillaccountforatleastaquarteroftheworld’ssalesofminingequipment.TheglobaltransactionisvaluedatUSD2.9billion;
• MinmetalsontheZambianandSouthAfricanaspectsofitsapproximatelyUSD1.3billionofferforAnvilMining;
• NorthamPlatinuminrelationtotheestablishmentofabroadbasedconsortiumofHistoricallyDisadvantagedSouthAfricans(HDSA),whichwillhold31.4%ofNortham’sissuedshares,bringingNortham’stotaleffectiveHDSAownershipleveltoapproximately35.4%(dealvalueZAR6.6billion);
• RioTintoontheSouthAfricanaspectsofitsacquisitionofAfricafocusedRiversdaleMining,listedontheAustralianStockExchange,and(i)thesubsequentsaleofitscoalassetsinMozambiquetoInternationalCoalVenturesPvtLtdand(ii)thedisposalof100%ofitssharesinRiversdaleHoldings(Pty)LtdtoGalaxyBV(asubsidiaryofMenarHolding.);
• RoyalBafokengPlatinumLtdinrelationtoacombinedofferingofitsshares(involvingaprimaryissuebythecompany,andasecondaryissuebyitsshareholders);
• ShandukaGroup(Pty)LtdandthemajorityshareholdersinrelationtotherestructuringofShandukaGroup(Pty)LtdandmergerwithPembaniGroup(Pty)Ltd,tocreateanewZAR13.5billionblack-controllednaturalresourcesandindustrialholdinggroup;
• TheStandardBankofSouthAfricaLtdinthedisposalofitsentirestakeinShandukaGold(Pty)LtdtoPanAfricanResourcesLtdinatransactionvaluedatZAR176million;
• TransHexGroupLtd,JohannesburgStockExchangelisteddiamondminingcompany,inrelationtoamandatoryofferbyCreamMagenta140(Pty)Ltd,Metcap14(Pty)Ltd,andRACInvestmentHoldings(Pty)Ltd;
• TheTanzanianNationalDevelopmentCorporationwithrespecttoitsMchuchumaCoalProjectaswellasitsjointventurewithSichuanHongdaGroupLtdontheLigangaIronOreProject;
• WogenPacificLtdinrespectofapre-financeagreementintheamountofUSD2millionandofftakeagreementwhichisestimatedtohaveanetpresentvalueofUSD68.9million.
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AccoladesAFRICANLEGALAWARDS2019Wewontwopracticeawards-forTransportationandInfrastructureTeamoftheYearandTMTTeamoftheYear.
CHAMBERSAFRICAAWARDS2018
WewerenamedSouthAfricanLawFirmoftheYear.
DEALMAKERSSOUTHAFRICAAWARDS2018
WewereplacedfirstfordealflowandthirdfordealvalueintheGeneralCorporateFinancecategory,andthirdfordealvalueandfourthfordealflowintheM&Acategory.
DEALMAKERSEASTAFRICAAWARDS2018Wereceivedawardsinfiveoutofsixcategories:toplegaladviserinM&Aforbothdealflowandvalue,toplegaladviserinGeneralCorporateFinanceforbothtransactionflowandvalue,andadvisedontheDealoftheYear(theRubisEnergietakeoverofKenolKobil).
MERGERMARKETLEAGUETABLES2018WewererankedfirstbydealvalueandsecondbydealcountintheAfricaleaguetablesforlegaladvisors,andthirdbydealcountintheMiddleEast&Africaleaguetableforlegaladvisors.
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75 40 66Recognised Lawyers
Recognised Lawyers
Recognised Lawyers
BAND1
KENYA
Banking&FinanceCorporate/M&AEmploymentIntellectualPropertyRealEstate
SOUTHAFRICA
CapitalMarkets:DebtCapitalMarkets:EquityCompetition/AntitrustCorporateInvestigationsCorporate/M&AEmploymentEnvironmentIT&TelecommunicationsProjects&EnergyPublicLawShippingTax
TANZANIA
GeneralBusinessLaw
UGANDA
GeneralBusinessLaw
BAND2
SOUTHAFRICA
Banking&FinanceDisputeResolutionFintechMedia&BroadcastingRestructuring/Insolvency
KENYA
FintechProjects&Energy
CHAMBERS & PARTNERS 2019 RANKED US IN THE FOLLOWING AREAS
TIER1KENYA
Financial&CorporateMining
SOUTHAFRICA
CapitalMarketsPowerM&AUGANDA
Financial&CorporateProjectDevelopment
TIER2KENYA
PowerInfrastructure
SOUTHAFRICA
BankingInfrastructureMiningOil&GasProjectFinance
TIER3TANZANIA
Financial&CorporateProjectDevelopment
IFLR1000 2019 RANKED US IN THE FOLLOWING AREAS
TIER1KENYA
Banking&FinanceCommercial,Corporate&M&AEmploymentRealEstate&Construction
SOUTHAFRICA
Commercial,Corporate&M&ACompetitionEmploymentProjects&InfrastructureShipping
TANZANIA
LeadingFirm
UGANDA
LeadingFirm
TIER2KENYA
DisputeResolutionPrivitisation&Projects
SOUTHAFRICA
Banking&FinanceConstructionDisputeResolutionInvestmentFundsTax
THE LEGAL 500 EMEA 2019 RANKED US IN THE FOLLOWING AREAS
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CHARLESYOUNG HeadofMiningJohannesburg,SouthAfrica T:+27116699327E:[email protected]
Key Contacts
CLAIRETUCKER HeadofPublicLawandRegulatoryJohannesburg,SouthAfrica T:+27116699402E:[email protected]
EZRADAVIDS ChairmanofCorporate/M&AJohannesburg,SouthAfrica T:+27116699320E:[email protected]
WILBERTKAPINGA
ManagingPartner,TanzaniaDaresSalaam,Tanzania
T:+255768988640E:[email protected]
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RAINBOWFIELD DirectorNairobi,Kenya T:+254202899000E:[email protected]
DAVIDF.K.MPANGA PartnerKampala,Uganda T:+256414254540E:[email protected]
Toviewprofilesofourlawyers,
pleasevisitwww.bowmanslaw.com
WANDISILEMANDLANA PartnerJohannesburg,SouthAfrica T:+27116699562E:[email protected]
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CapeTown,SouthAfrica
T:+27214807800E:[email protected]
DaresSalaam,Tanzania
T:+255768988640E:[email protected]
Durban,SouthAfrica
T:+27312650651E:[email protected]
Johannesburg,SouthAfrica
T:+27116699000E:[email protected]
Kampala,Uganda
T:+256414254540E:[email protected]
Moka,Mauritius
T:+2304688411E:[email protected]
Nairobi,Kenya
T:+254202899000E:[email protected]
FollowusonTwitter:
@Bowmans_Law
www.bowmanslaw.com
AllianceFirms:
AmanAssefa&AssociatesLawOffice,AddisAbaba,Ethiopia
T:+25114702868E:[email protected]