16 November 2007 - Gide Loyrette Nouel A.A.R.P.I. advises SMSP on its industrial mining project with POSCO:

Gide Loyrette Nouel, regular advisor to the South Pacific Mining Company (SMSP) on its mining partnerships with foreign investors, was recently instructed by SMSP to assist it with two major transactions.

SMSP, mining company of the Northern Province of New Caledonia, contributed to the capital of Nickel Mining Company (NMC), a New Caledonian company 51% owned by SMSP and 49% by POSCO, all of its New Caledonian mining assets, other than those mining interests allocated to the Koniambo project. Following the capital contribution, SMSP sold 49% of the NMC shares, received in consideration of this capital contribution, to the Korean company, POSCO.

These two transactions will provide SMSP with the wherewithal to finance its 51% stake in a Korean metallurgical company SNNC (49% owned by POSCO) which is building a nickel smelting works to process New Caledonian ore.

SMSP was advised by Frédéric Wapler, a partner in Gide Loyrette Nouel’s Mergers & Acquisitions Department, assisted by Richard Beauvais, a partner in the Tax Department, and two associates, Nicolas Hallais and Sandra Tripathi.