Macedonian lawyers cooperating with Karanovic & Nikolic have advised Central Asia Metals on its EUR 340 million acquisition of 100% of Lynx Resources, which operates the SASA zinc-lead mine in Macedonia, from Orion Co-investments III and Fusion Capital. The Georgi Dimitrov Law Firm reportedly advised the sellers.
K&N describes the SASA mine, which is located in the northeast part of Macedonia, as "one the largest zinc, lead and silver mines in Europe," and the firm reports that it "is seen as a low-cost operation, with a strong track record, and a reserve base supporting production until at least 2032. Per annum, the mine produces approximately 30,000 tonnes of lead, 22,000 tonnes of zinc, and 400,000 ounces of silver in concentrates."
Central Asia Metals is a copper production and mineral exploration company. It operates a copper mine in Kazakhstan and is listed on the AIM segment of the London Stock Exchange. The UK company was searching for a new mine to buy for more than three years, K&N reports, and "it had gone through around 150 projects before settling on Lynx."
According to K&N, "Lynx Resources was established in 2015 in order to acquire SASA in Macedonia. It was founded by Fusion Capital, a Swiss mining management team with significant experience from senior roles at the world's largest zinc and lead mining and smelting company, and the Orion Mine Finance Group, one of the world's leading mining-focused private equity businesses with an active presence in Europe and which has approximately EUR 1.53 billion under management."
The Karanovic & Nikolic team was led by Senior Associate Veton Qoku.