London — Mayer Brown has advised Tungsten West plc, the owner and operator of the historical Hemerdon tungsten and tin mine located near Plymouth in southern Devon, England, on the successful launch of its initial public offering (IPO) on London’s AIM.
Tungsten West was admitted with a market capitalization of £106.2 million. The firm also advised Tungsten West on a related debt financing facility provided by the alternative investment firm Orion Resource Partners which, together with capital from the IPO, will fund the return of commercial production at the Hemerdon site.
The Hemerdon mine is the world’s third-largest tungsten resource, and the largest tungsten resource outside China.
The Mayer Brown team that advised on the IPO was led by Corporate & Securities partner Robert Hamill and included partner Rebecca Bothamley and associates Maddy Pryde and Alexander Sperling. The debt financing transaction was led by Banking & Finance partner Ian Coles and included counsel Danuta de Vries and associate Erica Arcudi (all London).