Editorial: Mining

• February 2008

With the continuing turmoil in the financial markets and the relative weakness of the US dollar, the price of precious metals continues to reach record high levels, with gold prices increasing by 30 per cent in 2007 and platinum, palladium and silver also rising sharply. With such potential rewards on offer, this continues to prompt similarly elevated levels of activity in the mining sector across the world. Our research has identified 235 individuals in 37 countries who have demonstrated the highest levels of expertise in this vibrant area.

Most Highly Regarded Individuals - Global
Lawyer	Firm
Paul Schlauch	Holland & Hart LLP, Greenwood Village, CO
Jay Kellerman	Stikeman Elliott LLP, Toronto
Randall Hubbard	Davis Graham & Stubbs LLP, Denver
John Turner	Fasken Martineau DuMoulin LLP, Toronto
Rafael Vergara	Carey & Cía, Santiago
Brian Abraham	Fraser Milner Casgrain, Vancouver
Ignacio Randle	Caparrós & Randle, Buenos Aires
Steve Vaughan	Heenan Blaikie LLP
Carlos Pérez-Cotapos	Cariola Díez Pérez-Cotapos & Cía Ltda Santiago
Robert Bassett	Holland & Hart LLP, Greenwood Village, CO
Patricia Núñez	Núñez Muñoz & Cía Ltda Abogados, Santiago
Michael Bourassa	Fasken Martineau DuMoulin LLP, Toronto
Florencia Heredia	Estudio Beccar Varela, Buenos Aires
Paul Stein	Cassels Brock & Blackwell LLP, Toronto
Michael Blakiston	Blakiston & Crabb, West Perth
Clayton Parr	Parr Waddoups Brown Gee & Loveless Salt Lake City
Stéphane Brabant	Herbert Smith LLP, Paris
Christopher Baldwin	Lawson Lundell LLP, Vancouver
Luis Carlo Rodrigo Prado	Rodrigo Elías & Medrano Abogados, Lima
Miguel Grau M	Estudio Grau, Lima

UNITED STATES

The US is the most significant jurisdiction in this book with 53 listed individuals from 36 firms. Chief among these is Holland & Hart LLP, with five partners listed. The firm is the home of "one of the best mining practices in the world" and the largest law firm in the Rocky Mountain region. At the head of this group is Paul Schlauch, one of the most highly regarded individuals in the research overall and "one of the finest lawyers I have ever met," according to one of our sources. A past president of the Rocky Mountain Mineral Law Foundation and the International Mining Professionals' Society, he also teaches courses on international mineral law and policy at Denver University School of Law and is a "very eminent figure both locally and nationally". His recent work includes the representation of the successful bidder in the privatisation of the Pueblo Viejo gold deposit in the Dominican Republic, as well as successfully representing a US gold company in several American Arbitration Association proceedings initiated by royalty holders. Robert Bassett is of counsel to the same office and a "very fine individual". Like Schlauch, he earns a place in the practice area's elite group of practitioners, and is the chair of the mineral law committee of the International Bar Association's section on energy and natural resources law. A "first-class lawyer across a range of disciplines", he has handled the acquisition of a copper mine in Nevada, litigation involving a coal mine accident in Utah and the acquisition of short-line railroads in Colorado and California, among numerous other matters. From the Cheyenne office, the "terrific" Jack Palma is a former natural resources deputy attorney general for the Wyoming attorney general's office, and he is particularly well known for his NEPA and environmental regulatory compliance work. Managing partner of the firm Lawrence Wolfe also makes the grade, in the past he chaired the firm's natural resources department. In the words of one source Wolfe is "a fantastic lawyer, I'm a big fan of his." The fifth partner we feature is Robert Connery; of counsel to the firm and "hugely experienced in this field".

Several other firms have multiple representatives in the following pages. The Denver office of Davis Graham & Stubbs LLP earns three nominations. (Colorado is one of the busiest states in the US for mining work, and produces a correspondingly large number of individuals in this book.) Randall Hubbard stands alongside the aforementioned Schlauch and Bassett among the most highly regarded of the research, and he is an "absolutely outstanding candidate". Known primarily for his domestic work relating to the exploration for and development of hard-rock minerals, as well as industrial minerals, coal, uranium and other energy minerals, he was also commended for his international mining work for North American clients. Another nominee from this "great mining firm" is Deborah Friedman, head of the firm's corporate practice group. She is recognised for her "first-class work" on behalf of a range of mining companies in commercial, export credit and project financing transactions domestically and overseas. The "stellar" Charles Kaiser also features, and he was picked out for his litigation relating to the ownership of coalbed gas, as well as representing the owners of the Trans-Alaska Pipeline in the successful renewal of rights-of-way and other authorisations for the 800-mile pipeline that crosses federal, state and native lands.

Elsewhere in the state, Mark Nesbitt in Denver is described as "incredibly active" and regarded as being "of the highest calibre", while Holme Roberts & Owen LLP is home to two strongly recommended lawyers. Former president of the Rocky Mountain Mineral Law Foundation Frank Erisman is known to be a "leader in this field". A "big name", he is recognised for his experience of government leases, the sale, acquisition and financing of mining properties as well as a range of mining-related claims. His expertise also extends internationally: he has experience of working in Russia, Mongolia, Indonesia, Brazil, Peru and Suriname among many others - he advised the Republic of Suriname on the form of its mining code and agreements. He is joined by James Cress, who was described as a "transactional guru" by our sources. Fognani & Faught PLLC also has two partners from its Denver office featured. Kenneth Hubbard "certainly knows what he's doing" and was repeatedly commended to researchers, while John Fognani stood out for his environmental expertise as well as his knowledge of mining law.

Modrall Sperling Roehl Harris & Sisk PA is the "leading firm in New Mexico", with three partners listed. Lynn Slade scored highly for his mining, energy and environmental practice, while Stuart Butzier is "first class" for both his transactional work and administrative representation of clients. Larry Ausherman is a past chair of the Section of Natural Resources, Energy and Environmental Law of the New Mexico State Bar and a "highly respected figure in the local legal community". He is well known for his disputes work, as well as for his permitting expertise. Two lawyers from Parsons Behle & Latimer in Utah are similarly well regarded, and it is "one of the best firms west of the Mississippi". Stephen Hull "stands out" for his transactional work, both in the US and overseas; he has worked on transactions in Peru, Chile, Argentina, Bolivia, Mexico, Honduras, West Africa and the Pacific Rim, while Jim Butler is highly rated by our corporate sources. "If I needed representation in Utah, he's the one I would go to," says one. Also in Salt Lake City, Clayton Parr of Parr Waddoups Brown Gee & Loveless is described as "absolutely terrific" and as "one of the top lawyers in the world for this type of work", a verdict that is borne out by our table of elite practitioners. Parr has served as lead counsel in the acquisition of a $120 million Nevada gold project, and has experience facilitating the purchase of 400 producing wells in two Utah and Montana fields and representing a major international gold firm in the acquisition of exploration properties in Indonesia, Africa and Latin America. More locally, he participated in the drafting and lobbying for geothermal legislation in Utah and assisted buyers in an acquisition of three operating coal mines in his home state.

In Washington DC, Crowell & Moring LLP's three partners in this book are led in the voting by the "very strong" Timothy McCrum. He is particularly well known for arguing before the Supreme Court over whether private landowners owned the sand and gravel located on property granted under the Pittman Underground Water Act of 1919, where Congress reserved "valuable minerals" for the United States. Co-chair of the firm's environment and natural resources group Steven Quarles has counselled a coalition of gold companies in the efforts to amend the General Mining Law of 1872 as well as a coalition of coal companies seeking legislation to resolve disputes between coal developers and oil and gas producers. Thomas Means also attracted admiring comment for his knowledge of the federal regulation of the mining industry, especially relating to the Federal Mine Safety and Health Act of 1977, the Surface Mining Control and Reclamation Act of 1977 and other environmental laws. Elsewhere in the US research, John Lacy of Deconcini McDonald Yetwin & Lacy PC appears in Arizona, and was described as an "industry leader of great stature"; Thomas Erwin of Erwin & Thompson LLP leads the research in Nevada.

CANADA

With a wealth of natural resources in the country, it's no wonder that Canadian law firms are fêted worldwide for their expertise in this field, and Canada is the second largest jurisdiction in our research (31 individuals from five provinces). Many of the firms have established mining experts in their overseas offices; a prime example being Fasken Martineau DuMoulin LLP, whose five featured lawyers are based across their Toronto and London offices. John Turner in Ontario is the leader of the
global mining group and "the sort of lawyer I love to work with," according to a source. Owner of a "great reputation", he recently advised SXR Uranium One on its acquisition of UrAsia Energy in a US$3.1 billion deal that will form one of the world's largest uranium producers. He was also involved in Addax Petroleum's IPO, the largest Canadian corporate IPO of 2006. Alongside Turner in the highest reaches of the research is Michael Bourassa, co-ordinator of the global mining group. "One of the top lawyers in Canada", Bourassa recently advised International Royalty Corporation on its agreement to acquire 16 mineral royalties from Rio Tinto, among several other matters for the client, and has also worked with First Nickel, Skye Resources and Antofagasta in recent years. A former chair of the energy and natural resources section of the Ontario Bar Association, Charles Higgins is "profoundly knowledgeable". Higgins recently advised Gold Reserve with respect to the signing of engineering procurement and construction management contracts with SNC-Lavalin Engineers & Constructors with respect to its Brisas project in Venezuela, a project whose estimated initial capital cost is approximately US$638 million. The firm's profile benefits from the inclusion of two partners from the London office, which was further strengthened by its 2007 merger with local firm Stringer Saul. Albert Gourley, who also helped to establish the firm's Johannesburg office, is known for his work on the initial public offering of First Uranium - the largest mining IPO of 2006 - as well as a range of Toronto Stock Exchange and AIM capital markets transactions, and meregrs and acquisitions in this area. The lateral hire of Thomas Wexler from Berwin Leighton Paisner LLP "adds to what was already a formidable team", and his transactional experience of infrastructure projects comes highly recommended.

The Canadian firm that most exemplifies this trend towards transnational expertise is Macleod Dixon, whose five featured partners are based in four countries, with only one from Canada. James Coleman QC from the Calgary office is recognised for his acquisition, financing and reorganisation work in this sector. Two partners are featured from the Moscow office. Aydin Jebrailov is "hugely respected" for the full range of work relating to subsoil operations in Russia, and his colleague Levon Kocharyan stood out for his mining and oil and gas knowledge. Maxim Telemtayev is managing partner of the Almaty office and is also recognised for his exploration, development and production experience - a "reliable and knowledgeable lawyer" according to our sources. The firm is also represented in Venezuela through the inclusion of Jorge Neher. One of the most highly nominated individuals in Latin America, Neher "leads the field" in mining transactional work, as well as for financing, regulatory and environmental matters for junior and senior mining companies.

Several other Canadian firms emerged with great credit from the research. Stikeman Elliott LLP, like Faskens, has representatives both domestically and in England. Jay Kellerman in Toronto leads the global mining group, and clients "always look to him for first-rate counsel". He also sits as a director or officer of public companies such as Anatolia Mineral Development and Platmin. Michael Allen in Vancouver has a "very strong practice" and was praised as "hugely hard working - it's always an excellent experience working with him". He was picked out for his project finance experience in the mining and energy sectors in particular. In the English capital, Derek Linfield also figures among the most highly rated figures. A "veritable gold mine of information", according to our sources, he manages the London office and is recognised for his knowledge of the Toronto stock exchange and AIM market of the London stock exchange.

The three featured lawyers from Cassels Brock & Blackwell LLP are all based in the Toronto office. Respondents were effusive in their praise of Paul Stein: "He understands things very quickly and is extremely proactive, a real asset to his clients." He is known for his work relating to joint ventures, farm-in agreements and financing of exploration and development projects both in Canada and overseas. Mark Bennett recently advised Peak Gold on its private placement of special warrants raising gross proceeds of over $110 million, while John Craig is also highly rated. He recently advised Tenke Mining when Lundin Mining agreed to acquire all its shares for approximately US$1.5 billion. Two of Fraser Milner Casgrain LLP's three lawyers we feature are based in Toronto. The other, Brian Abraham, is based in Vancouver and is viewed as "truly a mining lawyer; he's also a geologist". Much of his practice is international in scope - he has acted for clients in transactions in countries including Argentina, Australia, China, Kenya, South Africa and Venezuela - and he is experienced in the full range of work in this area, including exploration, mining agreements and mineral title issues. John Sabine is a "very fine practitioner" and has acted for Falconbridge, LAC Minerals and Meridian Gold among others, while Frank Davis is similarly well regarded. McCarthy Tétrault LLP is also represented in both provinces by Anthony Knox in Vancouver and the "formidably good" Richard Miner in Ontario. Also in Toronto, Steve Vaughan once again figures among the most highly nominated individuals overall, and is "one of the best around", in the eyes of at least one of our sources. A new addition to the firm in 2007, Vaughan has been involved in natural resources transactions in more than 60 countries and has a "pedigree that is hard to match".

Lawson Lundell LLP is the only firm providing two names for our British Columbia list. Christopher Baldwin "stands comparison with anyone in the province" and leads the mining group at the firm. His "diverse practice" includes acquisitions, exploration, construction and financing of mines and related environmental matters. His colleague Gordon Chambers is regarded as "top-notch for mining finance work". Davis LLP is also represented in British Columbia; the "excellent" Patrick Furlong is recognised for his work on behalf of Japanese clients. Rodney Snow is "pre-eminent in this field", and the only individual from the Yukon to feature in this book.

AUSTRALIA

As in Canada, Australia's wealth of natural resources has led to similarly high levels of legal expertise in the local firms. Four Clayton Utz partners appear; two each from Sydney and Perth. The "very bright" Geoff Simpson is the partner in charge of the Perth office and head of the national upstream energy and resources group. Simpson was commended for his domestic and international work. Peter Wiese is "top drawer" for ferrous and non-ferrous mining work. Barry Irwin's knowledge of the Asian markets was commended to researchers, and he is joined by colleague Graham Taylor for the first time in this edition. Allens Arthur Robinson is similarly well represented, with each of its quartet based in different cities. Tony Wassaf in Sydney is "one of the premier mining lawyers in the country" with BHP Billiton, Resource Pacific, Donaldson Coal, Eraring Energy and Thiess among his clients. Nic Tolé was repeatedly recommended for his natural resources, infrastructure and energy practice, while consultant to the firm Ken MacDonald is "hugely experienced and a valuable source of counsel". Joint leader of the firm's energy and resources practice group Scott Langford is a "marvellous lawyer", and our sources highlighted his work for Rio Tinto in particular. Close behind, in terms of numbers on our list, is Minter Ellison. Ewan Vickery is fêted for his native title and Aboriginal heritage related work for mining clients; Andrew Thompson's energy and infrastructure track record is "most impressive". Denis Gately is recognised as a "first-rank mining lawyer" for his work on Shell's Callide, Moranbah North and Theodore mines and WMC's Duchess phosphate mine, and like his colleague he is also praised for his native title work.

Michael Blakiston of Blakiston & Crabb is the most highly nominated individual in the Australian research; "extremely impressive", his international experience encompasses more than 20 countries. Also in Perth, Leigh Warnick of Blake Dawson is "excellent on the corporate side", while his colleague in the Sydney office David Frecker is known for his work in Papua New Guinea, including acting for BHP Billiton on its exit from the OK Tedi project. Freehills also has dual representation through Daniel Blue - who boasts a strong following among our sources - and Philip Christensen. Mallesons Stephen Jaques is home to Alan Murray - praised for his corporate and resources work - and projects expert Rick Ladbury.

LATIN AMERICA

There is a further wealth of legal talent to be found in South America. Chile in particular is home to high levels of expertise. Rafael Vergara of Carey & Cía is regarded as a "certain inclusion on any list of the best". Head of the natural resources and environment group, he has been professor of Mining Law at the University of Chile, and at the University of the Andes, and his work on behalf of domestic and international clients is much admired. He is joined by Juan Mackenna, a "very learned and trusted adviser" to his clients. Patricia Núñez of Núñez Muñoz & Cía Ltda Abogados also performed strongly. With an "encyclopedic understanding of the concepts and legislation in this area", she is a "well-connected and effective counsel" to clients. One of the most recommended individuals in the research overall, Carlos Pérez-Cotapos is one of two partners to feature from Cariola Díez Pérez-Cotapos & Cía Ltda. The firm represents major companies and mining projects domestically, as well as assisting foreign companies in prospecting activities, joint-venture agreements and acquisitions of all kinds of mining properties. He is joined by one of the firm's founding senior counsel Eulogio Pérez-Cotapos, whose "wealth of knowledge in this sector is a huge asset". Also in Santiago, Pablo Mir Balmaceda of Bofill Mir is another recognised expert and his projects managing ability in particular came in for praise. Juan Paulo Bambach of Philippi Yrarrazaval Pulido & Brunner was also placed among the top practitioners in the country.

In Argentina, Florencia Heredia of Estudio Beccar Varela is regarded as "extremely knowledgeable" with a "fine pedigree" in energy related work and project financing. Ignacio Randle of Caparrós & Randle was often commended to researchers; he is "very proactive and business-oriented, he really understands the needs of his clients". Also from Buenos Aires, Luis Lucero of Cárdenas Di Ció Romero Tarsitano & Lucero is a "seriously impressive figure". Over the border in Brazil, Carlos Vilhena of Pinheiro Neto Advogados is highly rated: "He is very able and business oriented, which is great for international clients."

Three of the four lawyers we feature from Baker & McKenzie hail from South America: Antonio Ortúzar Jr in Chile stands out in particular, with the "very active" Adolfo Duranona in Argentina and Roberto Mendoza in Venezuela also scoring highly. (In addition, the firm can offer clients the benefit of Alexey Frolov's experience in Moscow - he recently advised a major Canadian gold mining company on the acquisition of Russian gold mining companies, among other issues.)

Rodrigo Elías & Medrano Abogados in Peru provides two partners for our list. Luis Carlos Rodrigo Prado is the most highly nominated individual in the country and viewed as an "absolute stellar guy". He was picked out for his advice to mining and natural resources companies in their exploration, exploitation and corporate development activities. Jaime de Orbegoso joins him in the following pages. Estudio Grau also gains two nominations. Miguel Grau M is "well known in the field", in part for his role in the preparation and signing of the petroleum exploration contract related to the discovery of the Camisea natural gas reserves. Cecilia Gonzáles G is renowned for her knowledge of local mining legislation, as well as for her work on contracts and consulting practice.

Rodrigo Sánchez-Mejorada of Sánchez-Mejorada Velasco y Ribé SC is the most highly nominated individual in the Mexican research and was described as that country's "king of mining law".

AFRICA
Africa is another mineral-rich continent, and there are high levels of local knowledge on this list with lawyers from 14 African countries represented. The largest contingent is from South Africa, where Webber Wentzel Bowens stands out with three partners featured. Peter Leon leads the voting, alongside the "well-respected" Manus Booysen, head of the natural resources and environmental law department, and David Lancaster. Tabacks earns two nominations: the "technically flawless" Chris Stevens and Mervyn Taback, one of the firm's founder members. Ontario-qualified Tanneke Heersche at White & Case in Johannesburg is "excellent", recognised for her work on behalf of Gold Fields and Anglo Platinum among others. Kojo Bentsi-Enchill of Bentsi-Enchill & Letsa in Ghana was once again highly placed in the research, and was described as a "very well known and extremely reliable lawyer". Based in France, Stéphane Brabant of Herbert Smith LLP is a "definite for inclusion" owing to his expertise relating to projects and financings in French-speaking Africa. He has advised the government of Senegal on a range of projects, as well as MagIndustries group in relation to its mining projects in the Republic of Congo.

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