Australian law firm Herbert Smith Freehills has created a free set of online legal resources for explorers to assist them with implementing early stage projects.
Titled ‘Extract’, the resource is first for Australian law firms, and provides a range of legal documents including standard form contracts, confidentially agreements, and term sheets tailored to the sector.
Jay Leary, global co-head of the firm’s mining practice said it was developed to help junior miners through a tough period in the commodity market.
“The decline in commodity prices has resulted in a difficult time for the sector as a whole but particularly for junior miners, with many forced to realign their expectations and development timelines,” he said.
Extract will deliver insights from the firm’s mining specialists on more detailed contracts such as joint ventures, farm-in, and mining services agreements. Users will also have access to an online library of information sheets to gain further understanding on certain issues and clauses relevant for mining companies.
Herbert Smith Freehills Partner Simon Reed said it gave them an opportunity to partner with junior explorers and emerging miners to support the growth and development of the mining industry.