The multi-faceted transaction furthers New Century's position as a global leader in economic rehabilitation and tailings management
Allens has advised leading tailings management and economic rehabilitation company New Century Resources on its A$119 million equity raising comprising of a private placement and underwritten rights issue.
The equity raising will allow ASX-listed New Century to restructure its balance sheet and pay out existing debt, enter into a new Environmental Bond Facility and hedging, accelerate its growth trajectory for the Century mine, bring on strategic investor Sibanye Stillwater, and acquire an option to purchase the Mt Lyell Copper Mine.
'ESG continues to be a major focus for many of our clients and we are increasingly seeing demand from companies in the mining and resources sector to act on transactions that further their robust and integrated ESG priorities,' said lead Partner Bryn Hardcastle.
Allens is also advising on the acquisition of the Mt Lyell Copper Mine, which will be one of the largest near-term production 'green copper' assets on the ASX.
Allens legal team
Bryn Hardcastle (Partner), Dave Filov (Counsel), Alexandra Meade (Senior Associate), Alex Forster (Lawyer), Elizabeth Watts (Lawyer)