mining - bowmans · our clients include global mining and resources companies, investors, banks and...
TRANSCRIPT
MINING
2
BOWMANS
3
Mining
Contents
04 OurFirm
05 OurFootprintinAfrica
06 OurMiningSector
07 OurSpecialistServices
08 OurSignatureMatters
10 Accolades
12 KeyContacts
4
BOWMANS
CONTENTS PAGE
Our Firm
Bowmans is a leading Pan-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.
WithsixofficesinfourAfricancountriesandover400specialisedlawyers,
wearedifferentiatedbyourgeographicalreach,independenceandthequalityoflegalservicesweprovide.
WedrawonouruniqueknowledgeoftheAfricanbusinessenvironmentandin-depthunderstandingofthesocio-politicalclimatetoadviseclientsonawiderangeoflegalissues.Ouraimistoassistourclientsinachievingtheirobjectivesassmoothlyandefficientlyaspossiblewhileminimisingthelegalandregulatoryrisks.
Ourclientsincludecorporates,multinationalsandstate-ownedenterprisesacrossarangeofindustrysectorsaswellasfinancialinstitutionsandgovernments.
Ourexpertiseisfrequentlyrecognisedbyindependentresearchorganisations.WehavebeennamedAfricanLegalAdviserbyDealMakersforthelastthreeconsecutiveyearsandSouthAfricanLawFirmoftheYearfor2016bytheWho’s Who Legal.Mostrecently,wewontheTechnology,MediaandTelecommunicationsTeamoftheYearAwardattheprestigiousAfricanLegalAwardshostedbyLegal WeekandtheCorporateCounselAssociationofSouthAfricain2017.Thefirmwasalso‘highlycommended’intheAfricanLawFirmoftheYear–LargePracticeandLitigationandDisputeResolutionTeamoftheYearcategories.
5
Mining
CONTENTS PAGE
Our Footprint in Africa
WeprovideintegratedlegalservicesthroughoutAfricafromsixoffices(Cape
Town,DaresSalaam,Durban,Johannesburg,KampalaandNairobi)infourcountries(Kenya,SouthAfrica,TanzaniaandUganda).
WeworkcloselywithleadingNigerianfirmUdoUdoma&Belo-Osagie,andMozambique-basedboutiquefirm,TacianaPeãoLopes&AdvogadosAssociados.WealsohavestrongrelationshipswithotherleadinglawfirmsacrosstherestofAfrica.
WearerepresentativesofLexMundi,aglobalassociation,withmorethan160independentlawfirmsinallthemajorcentresacrosstheglobe.Thisassociationgivesusaccesstothebestfirmsineachjurisdictionrepresented.
Bowmans offices
Relationship firm
Significant transaction or advisory experience
6
BOWMANS
CONTENTS PAGE
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.
7
Mining
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.
8
BOWMANS
CONTENTS PAGE
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
9
Mining
CONTENTS PAGE
• 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.
10
BOWMANS
CONTENTS PAGE
Accolades
AFRICANLEGALAWARDS2017WewontheTechnology,MediaandTelecommunicationsTeamoftheYearAwardattheprestigiousAfricanLegalAwardshostedbyLegal WeekandtheCorporateCounselAssociationofSouthAfrica.Thefirmwasalso‘highlycommended’intheAfricanLawFirmoftheYear–LargePracticeandLitigationandDisputeResolutionTeamoftheYearcategories.
DEALMAKERSAWARDS2017
WewereidentifiedastheleadinglegaladviserinAfricabybothdealvalueanddealvolumeforthethirdconsecutiveyear.WealsoperformedstronglyintheSouthAfricanawardsforM&AbydealvalueanddealflowandCorporateFinancebydealflow.
INDIABUSINESSLAWJOURNAL2017WewerenamedasoneoftheleadinginternationallawfirmsforIndiawork.
WHO’SWHOLEGALAWARDS2016WewerenamedSouthAfricanLawFirmoftheYear.
11
Mining
CONTENTS PAGE
48 Recognised Lawyers28 Recognised
Lawyers60 Recognised Lawyers
TIER1
KENYA
Banking,Finance&CapitalMarketsCommercial,Corporate&M&AEmploymentRealEstate&Construction
SOUTHAFRICA
Commercial,Corporate&M&ACompetitionEmploymentProjects&InfrastructureShipping&Transport TIER2
KENYA
DisputeResolutionProjects&Energy
SOUTHAFRICA
Banking&FinanceDisputeResolutionInvestmentFundsTax
TIER1KENYA
Financial&CorporateMining
SOUTHAFRICA
CapitalMarketsCompetitionEnergyM&AUGANDA
Energy&InfrastructureFinancial&CorporateTIER2
KENYA
EnergyInfrastructure
SOUTHAFRICA
BankingInfrastructureMiningOil&GasProjectFinance
BAND1
KENYA
Banking&FinanceCorporate/CommercialSOUTHAFRICA
CapitalMarkets:DebtCapitalMarkets:EquityCompetitionCorporateInvestigationsCorporate/M&AEmploymentEnvironmentIT/TelecommunicationsProjects&EnergyShipping
UGANDA
GeneralBusinessLaw
BAND2
KENYA
Employment
SOUTHAFRICA
Banking&FinanceDisputeResolutionMedia&BroadcastingTax
THE LEGAL 500 EMEA 2017 RANKED US IN THE FOLLOWING AREAS
IFLR1000 2017 RANKED US IN THE FOLLOWING AREAS
CHAMBERS & PARTNERS 2017 RANKED US IN THE FOLLOWING AREAS
12
BOWMANS
CONTENTS PAGE
CHARLESYOUNG HeadofMiningSectorJohannesburg,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]
RAINBOWFIELD DirectorNairobi,Kenya T:+254202899000E:[email protected]
13
Mining
CONTENTS PAGE
DAVIDF.K.MPANGA PartnerKampala,Uganda T:+256414254540E:[email protected]
Toviewprofilesofourlawyers,
pleasevisitwww.bowmanslaw.com
WANDISILEMANDLANA PartnerJohannesburg,SouthAfrica T:+27116699562E:[email protected]
CONTENTS PAGE
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