Resources giant digs for more gold and copper with top firms’ help

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A trio of firms have advised as an Anglo-Australian resources giant invested in assets in Australia and Ecuador.

King & Wood Mallesons (KWM) in London advised BHP, which upped its stake in SolGold in a private placement worth £45m. SolGold was counselled by HopgoodGanim Lawyers in Australia and Locke Lord in London.

The investment gives London-listed and headquartered BHP an 11.2% stake in Brisbane-based SolGold. The company has assets in Ecuador and Australia, with its flagship project, the Cascabel copper-gold porphyry project, located in northern Ecuador.

KWM’s team was led by London partner Joseph Newitt. HopgoodGanim partner Brian Moller led the firm’s team. Locke Lord told Australasian Lawyer that London managing partner James Channo and partner Sean Page advised SolGold.

The deal continues HopgoodGanim’s and Locke Lord’s tandem work for SolGold. The firms acted on the company’s listing on the London Stock Exchange and Toronto Stock Exchange in 2017.

Moller led HopgoodGanim’s team for that deal, assisted by senior associate Luke Dawson. Channo was Locke Lord’s lead lawyer on those transactions.