mining - bowmans · appetite (total deal value of usd 7.1 billion); • assmang ltd, sumitomo...

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Page 1: MINING - Bowmans · appetite (total deal value of USD 7.1 billion); • Assmang Ltd, Sumitomo Corporation and China Steel Corporation in a joint venture, in respect of the construction,

MINING

Page 2: MINING - Bowmans · appetite (total deal value of USD 7.1 billion); • Assmang Ltd, Sumitomo Corporation and China Steel Corporation in a joint venture, in respect of the construction,

BOWMANSBOWMANS

2

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Mining

Contents

04 OurFirm

05 OurFootprintinAfrica

06 OurMiningSector

07 OurSpecialistServices

08 OurSignatureMatters

10 Accolades

12 KeyContacts

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BOWMANS

CONTENTS PAGE

Our Firm

WithsixofficesinfourAfricancountriesandover400specialisedlawyers,we

aredifferentiatedbyourindependenceandthequalityoflegalservicesweprovide.

WedrawonouruniqueknowledgeoftheAfricanbusinessenvironmentandin-depthunderstandingofthesocio-politicalclimatetoadviseclientsonawiderangeoflegalissues.Ouraimistoassistourclientsinachievingtheirobjectivesassmoothlyandefficientlyaspossiblewhileminimisingthelegalandregulatoryrisks.

Ourclientsincludecorporates,multinationalsandstate-ownedenterprisesacrossarangeofindustrysectorsaswellasfinancialinstitutionsandgovernments.

Ourexpertiseisfrequentlyrecognisedbyindependentresearchorganisations.WewererankedfirstbydealvalueandsecondbydealcountinMergermarket’s2018Africaleaguetables

forlegaladvisors.WereceivedawardsinfiveoutofsixcategoriesattheDealmakersEastAfricaAwardsfor2018:toplegaladviserinM&Aforbothdealflowandvalue,toplegaladviserinGeneralCorporateFinanceforbothtransactionflowandvalue,andadvisedontheDealoftheYear.IntheDealmakersSouthAfricaAwardsfor2018,wewereplacedfirstfordealflowintheGeneralCorporateFinancecategory.

WewerenamedSouthAfricanLawFirmoftheYearfor2018intheChambersAfricaAwardsforExcellenceandAfricanLawFirmoftheYear(LargePractice)attheAfricanLegalAwardshostedbyLegal Week andtheCorporateCounselAssociationofSouthAfrica.Wewerealsooneofonlytwofirmsthattookhomethreepracticeawards-forPropertyandConstructionTeamoftheYear,EnergyandNaturalResourcesTeamoftheYearandTMTTeamoftheYear.

Bowmans is a leading African law firm. 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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Bowmans offices

Relationship firm

Significant transaction or advisory experience

Bowmans offices

Relationship firm

Significant transaction or advisory experience

SOUTH AFRICA MOZAMBIQUE

NIGERIA

KENYA

TANZANIA

UGANDA

Bowmans offices

Relationship firm

Significant transaction or advisory experience

SOUTH AFRICA MOZAMBIQUE

NIGERIA

KENYA

TANZANIA

UGANDA

Our Footprint in Africa

Bowmans offices

Relationship firm

Significant transaction or advisory experience

SOUTH AFRICA MOZAMBIQUE

NIGERIA

KENYA

TANZANIA

UGANDA

Bowmans offices

Relationship firm

Significant transaction or advisory experience

SOUTH AFRICA MOZAMBIQUE

NIGERIA

KENYA

TANZANIA

UGANDA

Bowmans offices

Relationship firm

Significant transaction or advisory experience

SOUTH AFRICA MOZAMBIQUE

NIGERIA

KENYA

TANZANIA

UGANDA

WeprovideintegratedlegalservicesthroughoutAfricafromsixoffices(Cape

Town,DaresSalaam,Durban,Johannesburg,KampalaandNairobi)infourcountries(Kenya,SouthAfrica,TanzaniaandUganda).

WeworkcloselywithleadingNigerianfirm,UdoUdoma&Belo-Osagie,andMozambique-basedboutiquefirm,TacianaPeãoLopes&AdvogadosAssociados.WealsohavestrongrelationshipswithotherleadinglawfirmsacrosstherestofAfrica.

WearerepresentativesofLexMundi,aglobalassociationwithmorethan160independentlawfirmsinallthemajorcentresacrosstheglobe.Thisassociationgivesusaccesstothebestfirmsineachjurisdictionrepresented.

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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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CONTENTS PAGE

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.

7

“Bowmans has

continued its emergence

and now has a hugely

impressive client base”.

– Legal 500, 2018

Mining

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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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AccoladesAFRICANLEGALAWARDS2018WewerenamedAfricanLawFirmoftheYear(LargePractice).Wewerealsooneofonlytwofirmsthattookhomethreepracticeawards-forPropertyandConstructionTeamoftheYear,EnergyandNaturalResourcesTeamoftheYearandTMTTeamoftheYear.

CHAMBERSAFRICAAWARDS2018

WewerenamedSouthAfricanLawFirmoftheYear.

DEALMAKERSSOUTHAFRICAAWARDS2018

WewereplacedfirstfordealflowandthirdfordealvalueintheGeneralCorporateFinancecategory,andthirdfordealvalueandfourthfordealflowintheM&Acategory.

DEALMAKERSEASTAFRICAAWARDS2018Wereceivedawardsininfiveoutofsixcategories:toplegaladviserinM&Aforbothdealflowandvalue,toplegaladviserinGeneralCorporateFinanceforbothtransactionflowandvalue,andadvisedontheDealoftheYear(theRubisEnergietakeoverofKenolKobil).

MERGERMARKETLEAGUETABLES2018WewererankedfirstbydealvalueandsecondbydealcountintheAfricaleaguetablesforlegaladvisors,andthirdbydealcountintheMiddleEast&Africaleaguetableforlegaladvisors.

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71 37 32Recognised 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,Finance&CapitalMarketsCommercial,Corporate&M&AEmploymentRealEstate&Construction

SOUTHAFRICA

Commercial,Corporate&M&ACompetitionEmploymentProjects&InfrastructureShipping

UGANDA

LegalMarketsOverviewTIER2KENYA

DisputeResolutionProjects&Energy

SOUTHAFRICA

Banking&FinanceConstructionDisputeResolutionInvestmentFundsTax

TANZANIA

LegalMarketsOverview

THE LEGAL 500 EMEA 2018 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]

Mining

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CapeTown

T:+27214807800E:[email protected]

DaresSalaam

T: +255768988640E: [email protected]

Durban

T:+27312650651E:[email protected]

Johannesburg

T:+27116699000E:[email protected]

Kampala

T:+256414254540E:[email protected]

Nairobi

T:+254202899000E:[email protected]

FollowusonTwitter:

@Bowmans_Law

www.bowmanslaw.com