Cobbetts LLP has been ranked as the number one adviser to mining and mineral companies on AIM, according to new statistics from Hemscott, the independent international provider of financial data.

The ranking comes at a challenging time for many mining companies, in which raising capital for exploration and development projects has slowed as a result of the credit crunch.  Cobbetts, which cites the wider effects of the credit crisis as the root of the problem, remains bullish that the market will return to normal levels of activity in the future.

Charles Bond, a partner in the public markets team at Cobbetts, said: “The impact of the economic downturn has seen activity slow within some areas of the mining and minerals sector.  As a result, we’ve seen delays and disruptions to a number of projects.

“Although this is a challenging situation for the sector, demand for precious metals such as gold and silver remains strong.  In areas where it has dipped, for example within base metals, appetite will eventually return and industry confidence will be restored.  In the meantime, we will continue to work hard to raise awareness of the sector and of the value that listing on AIM can offer to ambitious companies.  Doing so will allow us to position ourselves strongly for future growth when the economy begins to recover.”

Notable transactions for the firm included advising Russian mining company, Highland Gold, on Millhouse LLC’s acquisition of a 40 per cent shareholding for £196 million and the £236 million AIM admission of Panceltica, the first Qatar-based company to be brought to the market. Cobbetts also advised Enegi Oil on its joint admission to AIM and the Luxembourg Stock Exchange and AIM-quoted Timan Oil & Gas plc on a US $100m loan facility with Kazakh-owned Kamanisk Holdings.

The Hemscott ranking follows closely behind Cobbetts’ Law Society Excellence Award for exporting legal services.  The firm’s public markets team was recognised for its outstanding achievements in the mining and minerals sector and led Cobbetts to defeat six other short-listed law firms, including two magic circle firms, to pick up the accolade. 

Cobbetts was applauded by the Law Society for developing a strong, international presence in the field and encouraging international investment in the UK by way of the AIM market.