Field Fisher Waterhouse advises on two mining industry AIM deals
03 November 2008
Field Fisher Waterhouse LLP has completed two AIM deals, both
involving companies in the natural resources sector. The firm
advised EMED Mining Public Limited on the acquisition of the
remaining 49% of the Spanish copper mine, Proyecto Rio Tinto and
advised broker, Mirabaud Securities Limited on African Minerals
Ltd’s £20 million secondary fundraising on AIM.
EMED Mining Public Limited is a Cyprus based, AIM listed copper
and gold exploration company. The acquisition saw the company
acquire the remaining 49% stake in Proyecto Rio Tinto, a copper
mining opportunity near Seville in Spain. The Rio Tinto mining
assets have a long history, and gave Rio Tinto plc its name when it
was formed to mine them in 1873. The stake was acquired for
€63m and involved the acquisition of a joint venture company from
international metals marketer and trader MRI Group. EMED Mining now
own 100% of the Rio Tinto mine.
Corporate partner Dominic Gurney-Champion led on the deal, having
previously advised on the company’s flotation on AIM in 2005. He
was assisted by solicitors Brad Isaac, Clare Farnell and Tom
Martin. MRI Group was advised by Watson Farley Williams.
The firm has also advised broker, Mirabaud Securities Limited on
a £20 million secondary fundraising on AIM for African Minerals
Ltd. African Minerals is a mineral exploration company with
significant interests in Sierra Leone, West Africa. The fundraising
will allow the company to progress a drilling campaign at an iron
ore project in Tonkolili, Sierra Leone.
Corporate partner Anthony Brockbank led on the deal. Clyde &
Co advised African Minerals.
So far this year Field Fisher Waterhouse’s Corporate Finance group have advised on 22 AIM
deals. The firm, which has a leading reputation in the AIM
market, has over 50 AIM clients.
Anthony Brockbank said: "We are delighted to have completed
these deals and at such a difficult time in the market - we
completed the Africa Minerals fundraising at a time when stock
markets were crashing across the world. These deals reflect
the fact that despite market conditions, there is still activity
going on in the AIM market, particularly secondary
fundraising activity."
For further press information, please
contact:
Louise Eckersley, PR Manager,
Field Fisher Waterhouse LLP on +44 (0)20 7861 4120