KWM advises on sale of African mine

King & Wood Mallesons has advised an ASX-listed mining company on the sale of the majority of its stake in a uranium mine.

Naomi Neilson • 15 July 2019 • Big Law

Firm: King & Wood Mallesons (Paladin Energy)

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Deal: KWM has advised Paladin Energy, an ASX-listed uranium miner based in Africa, on the sale of its 85 per cent stake in the Keyelekara mine to a joint venture led by the ASX-listed Hylea Metals Limited.

Value: Undisclosed

Area: Mining and energy

Key players: Cross-border M&A partner Paul Schroder led the KWM team, supported by banking partner Nathan Collins, intellectual property partner Scott Bouvier, senior associate Peixin Truong, associate Kenny Cheok and solicitors Stephanie Rigg and Rianne Chen.

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Deal significance: The KWM-assisted sale of a non-core asset will enable Paladin to prioritise its capital and other resources to optimise and restart its Langer Heinrich mine, based in Namibia, Africa, according to the firm.

The sale is subject to approval of the government of Malawi, Hylea shareholders and holders of Paladin’s $US115 million secured notes, which have been listed on the Singapore Stock Exchange. It is expected to complete in late 2019.

Commenting on the deal, Mr Schroder said: “We are delighted to be able to support Paladin once again on this important cross-border transaction. This is one of a number of African resources M&A transactions we are working on at the moment and we are optimistic about the future of the sector.”

naomi.neilson@momentummedia.com.au