UBS AG

UBS AG (Union Bank of Switzerland) in 2010 was a 6.82% holder, through its Global Asset Management (SW) subsidiary, in AIM-listed potash and tungsten exploration company, Sirius Minerals [UK Analyst "Tip of the day", 25 October 2010].

In mid-2008 UBS was the third largest shareholder (at 10.19%) in GCM Resources PLC (see RAB Capital) [Hemscott 18 May 2008]; it held 10.02% of Lonrho Plc [Lonrho Annual Report 28 May 2008], and also 4.47% of Central African Mining & Exploration PLC (Camec) (see Capital Group Companies) [Hemscott 24 February 2008].

In May 2008, along with Goldman Sachs and Morgan Stanley, UBS made a rights issue worth 9 billon Rand (approximately US$ 1.2 billion) on behalf of AngloGold Ashanti [Mining Weekly, 7 May 2008].

In 2007 it held 3.03% of European Nickel Plc, while its London branch was invested in the Masara Gold project in the Southern Philippines that year [Piplinks Research, 2007].

UBS Wealth Management is a minor (3.88%) shareholder in City Natural Resources High Yield Trust PLC (qv.) [Hemscott 14 February 2008]. As of January 2008 it held 10.72% of Lonrho plc [Hemscott, 23 January 2008].

In September 2008, UBS Securities Canada Inc. joined a syndicate of underwriters, led by RBC Capital Markets (qv) which included and CIBC and Raymond James Ltd, to promote Banro Corporation’s gold projects in DR Congo.

In early 2009, UBS Securities led a clutch of 14 dealers that sold 20.9 million Kinross shares on the New York Stock Exchange. Underwriters could boost the deal to $414.6-million.

Opined the Toronto Globe & Mail: “This offering marks a big win for UBS Securities, which has one of the world's largest precious metals franchises and a substantial domestic investment banking operation ”, adding that “Canada's bank-owned investment dealers dominated the flurry of corporate finance activity seen in November and December, effectively shutting out global banks such as UBS Securities.” [Toronto Globe & Mail 22 January 2009].

In early February 2009, UBS AG joined Merrill Lynch & Co. as joint lead manager, bookrunner and underwriter for an Aus$ 750 million share sale, on behalf of Newcrest, Australia’s largest gold miner. Goldman Sachs and JBWere Pty are also assisting with the sale [Bloomberg, 2 February 2009].

Goldman Sachs Canada Inc, along with CIBC World Markets as co-lead managers and joint book runners; and including National Bank Financial Inc, along with UBS Securities Canada, Merrill Lynch Canada Inc., RBC Dominion Securities Inc., Raymond James Ltd, Salman Partners Inc and Canaccord Capital Corp as co-managers, launched a share offering for Pan American Silver in February 2009 [MarketWire 5 February 2009].

In October 2009, BMO Capital markets led a syndicate of underwriters, along with UBS Securities Canada Inc, to raise US$ for Gammon Gold’s Guadalupe y Calvo gold-silver project in the Mexican state of Chihuahua [MJ 9 October 2009].

As of 26 April 2010, UBS Investment Bank was the second largest shareholder (at 5.42%) of the UK's largest coal producer, UK Coal.

In October 2011, UBS and Indopremier Securities underwrote an IPO for PT Atlas Resources Tbk, an Indonesian coal miner active in Sumatra and Kalimantan, aiming to raise up to $100 million [Reuters, 7 October 2011]; part of which would be used to secure a marketing and supply arrangement with the Noble Group.

On the eve of the 2011 climate change conference (Conference of Parties) held in Durban, South Africa,four organisations (urgewald of Germany, BankTrack, and South Africa groups Earthlife Africa and groundWork)identified the Bank as the eleventh heaviest financier of coal fired electricity and coal mining in the period 2005-2011. According to the report, UBS had released 8,217 million euros of such funding [Bankrolling Climate Change, urgewald et al, 2011].