Deal with South Africa's Resource Exploration and Development Ltd is the latest in a series of mining deals advised on by the firm, which is one of the UK's top ranked advisers to early stage resources companies.

European law firm Fieldfisher has completed an earn-in deal for its privately held mining client, Kalahari Metals Limited (KML), with South Africa's Resource Exploration and Development Ltd (RED) respecting highly prospective copper licences in Botswana.

Fieldfisher advised on all aspects of the deal, which saw KML acquire the right to earn into in five recently granted exploration licences in the Kalahari Copper Belt.

Under the terms of the agreement KML will invest US$100,000 in exploration on the licences to earn 25% of Kitlanya Ltd, RED's wholly-owned subsidiary, which owns the copper licences, and has an option to purchase the remaining 75% of Kitlanya for shares in KML to the value of US$700,000.

The deal was announced on 30 November 2018 and is the latest in a series of financing transactions for mining clients Fieldfisher has advised on in 2018, including the investment agreement between KML and AIM-listed Metal Tiger plc, pursuant to which Metal Tiger may invest up to US$1.6 million in KML to fund its work on licences in the Kalahari Copper Belt in Botswana.

Commenting on the KML earn-in, Fieldfisher corporate partner Brad Isaac said:

"Early stage mining companies continue to be active, despite challenging market conditions.

"Our significant and constantly increasing experience with Africa-focused mining clients means we were well-placed to advise on the particular aspects of this deal, the successful of conclusion of which was an important step forward for KML.

"We look forward to concluding more corporate work for our clients in this region in the near future."