Mining

Representative Matters

• Bloomberg NEF’s ranked and recognized in its ‘Clean Energy League Tables 2024’. It is the ‘Only Indian Law Firm’ to feature in the ‘Top 10’ of the said table.
• Advised an affiliate of ArcelorMittal in relation to the submission of bid to a government company for selection of joint venture partner for developing and mining of an iron ore block in India.
• Advised ArcelorMittal on bids made by it for iron ore mines which are being auctioned by the Government across the country.
• Advised Jindal Steel in acquisition of mining leases in the States of West Bengal and Orissa.
• Advised Sojitz Corporation on their acquisition of mines for a connected beneficiation and palletisation plant.
• Assisted a group entity of Moser Baer India Limited in connection with its participation in the bid invited by the Chhattisgarh Mineral Development Corporation Limited for the purposes of selecting a joint venture partner for undertaking development, mining and marketing of coal from the Sondiha Coal Block, State of Chhattisgarh. Our scope of work included negotiations with Chhattisgarh Mineral Development Corporation Limited on behalf of the Client and drafting and finalization of the joint venture agreement and other transaction documents.
• Advised Orascom Construction Industries, Egypt, a leading construction and mining company, on mining laws and structuring of their proposed operations in India.
• Advised Trimex International FZE in structuring its Foreign Direct Investment into an Indian company set up primarily for engaging in the mining, mineral separation and value addition of certain restricted minerals. The structuring of the transaction had to be done to ensure that at all stages of operation, the company would be compliant with mining laws. The firm obtained the Foreign Investment Promotion Board (FIPB) approval for foreign direct investment into an Indian company.
• Acted as legal counsel for the Government of the State of Jharkhand in negotiations with one of the world’s leading steel companies and has also assisted in drafting of a Memorandum of Understanding (MOU) for setting up of a Steel Plant and the associated rights of mining of iron ore, coal, copper and other minerals in the State of Jharkhand.
• Advised the Government of Madhya Pradesh on the privatisation of diamond mining in Madhya Pradesh. Services included preparation of bid documents, assistance in bid evaluation and drafting of joint venture documents and advising on privatisation model.
• Acted as legal counsel for Zeigler International Inc. and extensively advised on coal mining regulations in India.
• Drafted and made representations to Governments regarding mining compliances and notifications.
• Assisted one of the world’s largest iron and steel companies in its green field projects in the States of Orissa and Chhattisgarh.
• Assisted a leading Indian Cement Producer in the structuring of their offshore agreements in relation to the purchase of Gypsum mines in Oman. The firm provided assistance in finalization of the share purchase agreements pertaining to the various holding companies of the mines, remittance of funds and making associated regulatory filings and compliances. and an affiliate of ArcelorMittal for setting up a joint venture company in the state of Jharkhand for the purposes of undertaking mining of a captive coal block jointly by the affiliate of ArcelorMittal and an affiliate of a major Indian private sector infrastructure group for captive consumption and also assisted in the joint venture agreement between the partners. on its USD 125 Million stake acquisition in Mumbai-based Steel company Uttam Galva Steels. The Firm drafted and negotiated the share purchase agreement and a co-promotion agreement. It also advised on the structuring of the collaboration between the Indian owners of the target and ArcelorMittal as also on compliance with Indian foreign exchange regulations and securities laws.
• Advised International Coal Ventures Private Limited, a joint venture of five government companies, in multiple / separate proposed acquisitions of mining assets in different countries (such as Mozambique, Australia etc.,). The Firm has been the lead counsel on the matter- leading the drafting, reviewing and finalization of the transaction documents and the bid documents, co-ordinating and reviewing the legal due diligence undertaken by the overseas local counsel, and advising on all legal and regulatory matters relating to the transaction.
• Advised a leading Indian steel producer on their acquisition of an iron ore pelletization business division, including a power plant and jetty.
• Advised on GVK Power and Infrastructure Limited’s proposed bid to acquire two coal mines in Western Australia from Griffin Coal Mining Company Pty Ltd. Scope of work included advising client on applicable Indian regulatory requirements, reviewing draft transaction documents provided by Australian counsel, negotiation and participation in meetings.
• Advised a leading Indian Power Developer in their proposed acquisition of a coal mine in Indonesia.
• Advised BHP Billiton on its proposed joint venture with POSCO, one of the world’s largest steel producer companies, for iron ore mining in the State of Orissa.
• Advising a leading mining company in India in its proposed acquisition of another mining company in India and conducted due diligence on the target company and are advising on transaction documents.
• Advised one of the world’s largest iron and steel companies on its acquisition of a mine and undertaking activities relating to steel production in the State of Chhattisgarh and entering into a MOU with the Government of Chhattisgarh.
• Advised a renowned international private equity group in connection with a proposed investment in a company developing power projects in India. The scope of work included review of all financing documents and project related documents including review of joint venture agreement for development of coal mine, applications for allocation of coal mine, allotment of coal linkage.
• Advised on various coal-based power projects and drafted coal supply agreements.
• Advised a multinational investor in connection with an investment in an Indian power company which had long term coal supply tie up with its promoters and conducted due diligence on captive mines held by promoters.
• Assisted one of the world’s largest iron and steel companies in submitting a bid to enter into a joint venture with the Chhattisgarh Mineral Development Corporation for iron-ore mining in the State of Chhattisgarh.
• Represented a consortium of 27 lenders, led by Power Finance Corporation Limited, in connection with the USD 2.7 Billion senior secured syndicated rupee term and letter of credit facility to KSK Mahanadi Power Company Limited in relation to the construction and operation of the 3600 MW (6x 600 MW) coal based thermal power project, being built at an estimated project cost of USD 3.56 Billion, at Nariyara, Janjgir Champa District, Chhattisgarh. The scope of work included reviewing draft coal supply and investment agreement for proposed investment in coal mines.
• Acted as counsel to the Government of India and the company in relation to the initial public offering of Coal India Limited, a public sector company which is one of the largest coal producing companies in the world. The transaction involved an offer for sale of 631,636,440 equity shares of the company by Government of India, and Citi, Deutsche, DSP Merrill Lynch, Enam, Kotak and Morgan Stanley were the book running lead managers to the offering. With a deal size of INR 151,994.40 Million, the offering is the biggest IPO in India till date. ‘Capital Markets Deals of the Year 2010’ by India Business Law Journal.
• Acted as Lenders’ Legal Counsel for a consortium of 15 banks and financial institutions led by IDBI, in connection with part financing for development of the 3960 MW coal-based power station at Krishnapatnam, Andhra Pradesh – Coastal Andhra Power Limited (CAPL) – with a project cost envisaged at USD 2.72 Billion. The scope of work included reviewing draft coal supply agreement proposed to be entered into between CAPL and the domestic seller for supply of coal procured from Indonesia.
• Represented IKB Deutsche Industriebank AG in its financing of an Indian metal and mining company in Orissa, where in the course of the due diligence, the Firm undertook extensive review of various mining related laws and the regulatory approvals and permits required by any company involved in mining activities.
• Acted as legal counsel to the rights cum warrants issue aggregating to INR 2,400 Million by Kirloskar Ferrous Industries Limited. The Company is a part of the Kirloskar Group and a public listed company engaged in the manufacture of pig iron and castings primarily for the automotive and tractor industries.
• Acted as the counsel to the underwriters in relation to the initial public offering of MOIL Limited, a public sector company engaged in production of manganese ore. Edelweiss, IDBI Capital and JP Morgan were the book running lead managers to the issue. The deal size was approximately INR 12,600 Million.
• Acted as sole lenders’ Indian legal counsel to a syndicate of domestic and foreign lenders for financing of the approximately 4000 MW Sasan ultra mega power project of Sasan Power Limited, along with development of integrated coal mines for captive usage. The project is estimated to be approximately USD 4 Billion.
• Advised Sesa Goa limited, India’s largest private iron ore exporter and a part of the London listed Vedanta Resources, in the direct and indirect acquisition of Goa based Dempo Group’s mining assets. The acquisition involved 100% equity stake in V.S Dempo & Co. Pvt. Ltd., amounting to a deal value of USD 368 Million.
• Acted as lender’s counsel to State Bank of India in connection with the proposed financing to Sasan Power Limited (a Reliance ADA group company) for its Ultra Mega Power Project, for setting up of 6 x 660 MW supercritical ultra-mega power project at Sasan, India with investment of over USD 5 Billion. The Firm also conducted due diligence on the target company with respect to its coal mines.
• The Firm has advised various bidders including a leading Indian steel and mining company in the auction process for grant of mining lease for multiple mineral blocks. For every mineral block the firm assisted the clients by providing regulatory and bid advisory including analysis on conflict of interest and transferability of mineral concessions, restrictive practices, risk identification, preparation and submission of bid documents, legal assistance during auction and bid assessments. The Firm has provided legal assistance in respect of the following Notice Inviting Tender (“NIT”) issued by various State Governments:
• NIT dated October 04, 2019 issued by the Government of Odisha for 10 (ten) minerals blocks (7 (seven) mineral blocks of Iron Ore and 3 (three) mineral blocks of Iron Ore and Manganese). The firm assisted the bidder in the bid submission of 6 (six) mineral blocks.
• NIT dated October 14, 2019 issued by the Government of Odisha for 10 (ten) mineral blocks (5 (five) mineral blocks of Iron Ore, 3 (three) mineral blocks of Iron Ore and Manganese and 2 (two) mineral blocks of Manganese). The firm assisted the bidder in the bid submission of 4 (four) mineral blocks.
• NIT dated December 06, 2019 issued by the Government of Odisha for 20 (twenty) mineral blocks (12 (twelve) mineral blocks of Iron Ore, 2 (two) mineral blocks of Manganese and 6 (six) mineral blocks of Iron Ore and Manganese). The firm assisted the bidder in the bid submission of 10 (ten) mineral blocks.
• NIT dated January 22, 2020 issued by the Government of Odisha for 2 (two) mineral blocks (1 (one) mineral block of Iron Ore and 1 (one) mineral block of Chromite). The firm assisted the bidder in the bid submission of 1 (one) mineral block.
• NIT dated August 12, 2021 issued by the Government of Chhattisgarh for 4 (four) Iron Ore mineral blocks. The Firm assisted the bidder in the bid submission of 3 (three) mineral blocks.