Alchemy is proud to have acted as legal advisor to Australian stock exchange-listed West Wits Mining in the successful conclusion of a landmark funding transaction that will pave the way for the development of a flagship gold mining project in South Africa.
This milestone financing arrangement heralds the commencement of mining operations at the Witwatersrand Basin Project (WBP), a large-scale, long-life gold mine located in the Gauteng province. The transaction marks a critical step forward in unlocking the project’s potential and advancing West Wits’ strategic vision for sustainable, high-grade gold production in one of the region’s most renowned gold–bearing orebodies in the Witwatersrand basin, the Kimberley Reef.
The funding secured through a well-supported placement to institutional and sophisticated investors, provides the capital necessary to execute key mine and infrastructure development activities, and positions West Wits to become a new mid-tier gold producer in the region. The Qala Shallows project is the first stage of West Wits’ flagship WBP. In addition, environmental and social initiatives will be aligned with the project’s long-term ESG commitments.
Alchemy’s comprehensive legal advisory role encompassed all aspects of the transaction, including due diligence, negotiation, the capital raising, and structuring of the intercompany financing arrangement related to West Wits’ buy-back of the minority interest in West Wits SA (WWSA), and will increase the parent company’s direct ownership of the Qala Shallows project to 74%. The arrangement ensures alignment with both shareholder value and long-term operational goals.
“We are pleased to have advised West Wits on a unique funding transaction of such significance,” says senior partner Wildu du Plessis. “This financing arrangement enables a key resource project to move from planning to execution, bringing job creation, economic growth, and renewed investment into the South African mining sector.”
The project is expected to deliver robust economic returns and contribute meaningfully to the regional economy.
“Alchemy remains committed to supporting clients in structuring innovative, future-focused deals in the natural resources and mining sectors across Africa,” adds Wildu.
Read more about this project in Mining Weekly.