Gilbert + Tobin/Shearman & Sterling advises Sundance Resources Ltd on US$4 billion Mbalam/Nabeba project
4th December 2012
Gilbert + Tobin and Shearman & Sterling have advised Sundance Resources Ltd in relation to a mining convention signed on 29 November by Cam Iron, the Cameroonian subsidiary of Sundance Resources, with the State of Cameroon regarding the Mbalam/Nabeba project.
Located both in Cameroon (Mbalam) and Congo (Nabeba), the project, with a total value estimated over US$4.5 billion, is one of the largest and most complex integrated mining and transportation infrastructure projects in Africa to date. It will include the construction of Cameroon’s first iron ore mine, deep sea port terminal and a 500 km railway to transport the iron ore extracted from the mine.
Gilbert + Tobin Energy and Resources Partner, Michael Blakiston said that the agreement is a historic and significant event which will mean enormous flow-on economic and social benefits for the people of Cameroon.
“The signing of the convention is the culmination of six years of hard work and collegial efforts between all parties involved which will result in a world-class iron ore operation in Cameroon,” he said.
The convention, which was signed in a ceremony in the Cameroon capital of Yaoundé also signifies considerable progress towards completion of Sundance’s Scheme Implementation Agreement with Hanlong Mining.
The mining convention sets out the legal, tax, financial, terms and conditions under which Cam Iron, the Cameroonian subsidiary of Sundance Resources will develop and operate its mine, rail and port in Cameroon.
The Gilbert + Tobin team was led by Michael Blakiston and assisted by Energy and Resources lawyers, Callista Barrett and Cassandra Hay.
Shearman & Sterling Paris and London based teams were led by project development & finance partner and Head of the Firm’s Africa Group, Christophe Asselineau.
The Government of the Republic of Cameroon was advised by US firm Patton Boggs and French firm Gide Loyrette Nouel.
About Gilbert + Tobin
Gilbert + Tobin is a leading corporate law firm and a key player in the Australian legal market. We provide innovative, relevant and commercial legal solutions to major corporate and government clients across Australia and internationally, particularly in the Asia-Pacific region. With a focus on dynamic and evolving market sectors, we work on transactions and cases that define and direct the market. Gilbert + Tobin has become the legal adviser of choice for industry leaders who value our entrepreneurial culture and determination to succeed.
Gilbert + Tobin’s reputation for expert advice extends across a broad range of areas including: banking and finance; corporate advisory – funds, mergers and acquisitions, private equity, capital markets, tax and stamp duty; communications and technology; competition and regulation; energy and resources; intellectual property; media; litigation and dispute resolution; and real estate and projects. Established in 1988, Gilbert + Tobin has the highest proportion of female partners of any major Australian law firm and are acknowledged as a pioneer in providing pro bono services.
About Shearman & Sterling LLP
Shearman & Sterling LLP is a global law firm with approximately 900 lawyers in 20 offices and 12 countries. The Paris office comprises over 80 lawyers, including 17 partners and 6 Counsels, advising on international arbitration, public and private international law, project development and finance, M&A and private equity, capital markets, equity plans and management compensation, bank finance, restructuring and insolvency, environment and tax.
Active in Africa for over 50 years, our firm advises companies, international financial institutions, States and State-owned entities on many types of projects, corporate transactions and international disputes on the continent. Our practice covers both North and Sub-Saharan Africa and our team comprises lawyers trained and qualified in both common law and civil law jurisdictions, including OHADA law (OHADA is the set of uniform commercial laws applied in 17 civil law African countries).
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