KWM helps ASX-listed miner unload uranium mine in Africa

The firm is working on a number of African resources M&A deals, it has confirmed

KWM helps ASX-listed miner unload uranium mine in Africa

King & Wood Mallesons (KWM) has advised an ASX-listed miner sell off a uranium mine in Africa.

The global firm advised Paladin Energy in its sale of its 85% stake in the Kayelekera Mine in Malawi to a joint venture led by ASX-listed Hylea Metals.

With the deal, Paladin receives $10m and will also recover a US$10m bond securing the mine’s environmental performance with the government of Malawi. KWM said that the sale of the non-core asset frees up resources to optimise and restart Paladin’s Langer Heinrich Mine in Namibia.

Most Read

KWM fielded a cross-border team headed by M&A partner Paul Schroder to act on the transaction. He was supported by banking partner Nathan Collins, IP partner Scott Bouvier, senior associate Peixin Truong, associate Kenny Cheok, and solicitors Stephanie Rigg and Rianne Chen.

“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,” Schroder said.

The deal, expected to close late this year, is subject to approval from the government of Malawi, Hylea shareholders, and holders of Paladin’s US$115m secured notes listed on the Singapore Stock Exchange, KWM said.

Related stories

Free newsletter

Subscribe to our FREE newsletter service and we’ll keep you up-to-date with the latest breaking news, cutting edge opinion, and expert analysis affecting both your business and the industry as whole.

Please enter your email address below and click on Sign Up for daily newsletters from Australasian Lawyer.

Recent articles & video

Cooper Grace Ward partner looks forward to more flexible work arrangements in the long term

Multidisciplinary team from HSF pitches in on global acquisition

Committee urges UK Ministry of Justice to boost support to legal service providers

Carroll & O’Dea Lawyers promotes 11

KWM assists fintech company on acquisition and $170m capital raising

Outgoing US bar president asks lawyers to step up against racial injustice in final address

Most Read Articles

Ashurst snaps up PwC partner

Bird & Bird partner believes that sports is ‘a force for good’

Clayton Utz represents in $643m sale of Rialto Tower interest

Moulis Legal appoints new partner