The disease, which has been ravaging West Africa, was clearly the tipping-point for the mining giant, which has also been struggling to overcome crippling debt, collapsing iron ore prices, and a dispute with Glencore over payment.
PwC is now on the hunt for a buyer to snap up its Marampa mine, which employs 1,400 people in Sierra Leone. And a number of law firms are reportedly getting calls from eager, prospective bidders.
London Mining’s general counsel Rohit Boothalingham turned to his go-to corporate adviser Spencer Summerfield at Travers Smith for advice on the administration. Meanwhile, PwC turned to Clifford Chance, which also has an existing relationship the flagging company.
London Mining is the second big UK-headquartered company to fall flat over the past month, following the collapse of Phones 4U. On that transaction, Allen & Overy, Clifford Chance and CMS Cameron McKenna were appointed to try and pick up the pieces.
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- EDF turned to Clifford Chance to win approval for a European Commission (EC) scheme enabling the first new nuclear reactors to be built in Britain for 20 years