DLA Piper Africa, Namibia (ESI) is proud to announce its role in the successful acquisition of Dundee Precious Metals Tsumeb Holdings (now Sinomine Tsumeb Mining Holding) by Sinomine (Hong Kong) Rare Metals Resources Co. Limited, effective 30 August 2024.

The transaction involved the acquisition of majority shares previously held by Dundee Precious Metals in Dundee Precious Metals Tsumeb Holding, which has now been renamed Sinomine Tsumeb Mining Holding. The acquisition includes the operations of a copper smelter located in northern Namibia.

ESI provided a multidisciplinary team, being Jurie Badenhorst, Dr. HM van den Berg, and Dehan van Zyl, to advise on wide-ranging components of the transaction. Acting as local counsel, ESI attended to an initial review of the Share Purchase Agreement (SPA) from a Namibian law perspective, advised on the merger control approval process with the Namibian Competition Commission (NaCC), and facilitated the closing of the transaction post-NaCC approval, which involved drafting and preparing all necessary resolutions, share transfer documents, and related paperwork for name changes and directorship appointments.

This transaction stands out for its complexity and legal innovation given the involvement of contracting parties from two different foreign jurisdictions, the significant regulatory components of the copper smelter project, and high public interest considerations.

As a leading business law firm in Namibia, ESI is proud to have contributed to this landmark transaction.