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Clifford Chance advises Wanbao Mining on its partnership with Managem to develop Sudan's gold mines

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27 April 2021

Clifford Chance advises Wanbao Mining on its partnership with Managem to develop Sudan's gold mines

Leading international law firm Clifford Chance has advised Wanbao Mining, a Chinese state-owned mining company, on its partnership with Managem S.A., an international diversified mining company based in Morocco to develop a large-scale gold mining project in the Republic of Sudan. Sudan is one of the largest gold producers in Africa.

The partnership will help expand the annual gold production capacity of the Gabgaba project from approximately 60,000 to 200,000 ounces, and the strategic development of new projects which will eventually be owned on a 50/50 basis between Wanbao Mining and Managem. The partnership was formed through Wanbao Mining's acquisition of a 35% stake from Managem in two entities, which hold separate mining licenses for blocks within the mine. Concurrently, Wanbao Mining will sell a 35% stake in an entity holding mining licenses to other blocks to Managem.

The deal was led by China Co-Managing Partner Terence Foo, with a team in Beijing which included associate Yanding He and trainee Jiahong Cai, and a team in Sydney, including partner Nadia Kalic and senior associate Georgina Roest, who assisted on mining-related agreements.

Terence said, "We are pleased that our cross-border team was able to support Wanbao Mining on its partnership with Managem in Sudan. We continue to see strong interest in the metals and mining sector, particular from Chinese investors."

高伟绅助力万宝矿产与Managem合作开发苏丹大型金矿项目

领先国际律师事务所高伟绅为中国国有矿企万宝矿产与摩洛哥的国际多元化矿企Managem S.A.合作开发苏丹共和国大型金矿项目提供法律服务。苏丹是非洲最大的黄金生产国之一。

本次合作有助于将Gabgaba项目的年黄金产量由约60,000盎司提升至约200,000盎司,同时有助于推进多个新项目的战略开发,万宝矿产和Managem最终将以50/50的比例共同持有该等新项目的权益。在本次合作中,万宝矿产从Managem处收购两家实体35%之股份,该等实体分别持有相关矿区内若干区块的采矿许可证。万宝矿产亦将其下属的持有其他区块采矿许可证实体中35%的股份出售予Managem。

本交易由高伟绅中国区联席管理合伙人符国成律师牵头,北京办公室律师何颜玎和见习律师蔡佳宏提供支持。悉尼办公室合伙人Nadia Kalic和高级律师Georgina Roest亦为矿业项目文件提供支持。

符国成律师表示:“非常高兴我们的跨境并购团队能够协助万宝矿产与Managem在苏丹达成合作。我们洞察到投资者(尤其是中国投资者)对金属与矿业领域持续表现出浓厚的兴趣。”