Norton Rose Fulbright advises on major mining project in the Democratic Republic of the Congo

Global law firm Norton Rose Fulbright acted as lead counsel to Alphamin Resources Corp. (TSXV: AFM) on the project financing for the development of the Bisie tin mine located in the province of North Kivu in the Eastern part of the Democratic Republic of the Congo (DRC), and operated by Alphamin Bisie Mining SA (ABM). Development of the Bisie tin mine will contributed to stability and economic growth to the North Kivu region.

The transaction involves a senior secured non-revolving term credit facility of up to US$80m made available to ABM, as borrower, with Alphamin Resources Corp., Alphamin Holdings (BVI) Ltd. and Alphamin Resources (BVI), acting as guarantors.  Security for the loan was provided on assets and shares in Mauritius, the British Virgin Islands (BVI) and the DRC. The transaction took into account restrictions in all of the concerned jurisdictions and in particular under DRC corporate and mining laws.

The proceeds of the loan will be applied towards the continued development of the Bisie tin mine operated by ABM. The company is partnering in the development of the project with the government of DRC, which has a free carried interest of 5%, and the Industrial Development Corporation of South Africa (IDC), which has an interest of 14.25%.

The Norton Rose Fulbright cross-border team was led by Washington, DC-based partner Poupak Bahamin, Montreal-based partners Serge Levy and Steve Malas and Paris-based senior associate Sabine Bertin. The team also included Washington, DC-based associate Aminata Sabally, Montreal-based associates Ricardo Lento, and Paris-based associates Antoine Thibaud and Anne-Gaëlle Cottenceau..

Over the past few years, Norton Rose Fulbright has been involved in numerous mining projects in the OHADA (the Organisation for the Harmonization of Business Law in Africa) member states, as well as UEMOA (West African Economic and Monetary Union) member states. Norton Rose Fulbright has also acted in almost all major project finances in the mining sector of the DRC.

Poupak Bahamin, who also heads Norton Rose Fulbright’s US Mining practice, comments:
“We are very proud to have acted for Alphamin on the development of the Bisie tin mine, which is one of the largest and most significant tin deposits in the world. The mine holds significant value for the region and illustrates our commitment in the country and the continent.”

This deal demonstrates the strength and interconnectivity of Norton Rose Fulbright’s international platform and how it is able to work in a continuous manner among its various offices and to draw on its extensive experience in the OHADA zone and particularly the DRC to support this debt and equity financing with elements in Canada.”

Notes for editors:

Norton Rose Fulbright is a global law firm providing the world’s preeminent corporations and financial institutions with a full business law service. The firm has more than 4,000 lawyers and other legal staff based in Europe, the United States, Canada, Latin America, Asia, Australia, Africa, the Middle East and Central Asia.

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