Cobbetts leads AIM minerals ranking

LAW firm Cobbetts has been ranked as the top adviser to mining and minerals companies on the AIM stock market.

Having previously shared the number one spot with law firms Fasken Martineau; and Watson, Farley & Williams, Cobbetts has resumed sole leadership, according to quarterly figures from financial data company Hemscott’s basic materials ranking.

The statistics also see Cobbetts move up one place in the total AIM client leader board, with 29 clients quoted on the exchange, bringing the firm to 14th place overall.

Andrew Wright, based in Manchester and head of public markets, said that the firm is maintaining its cautiously positive view for basic materials for the remainder of 2009, despite the impact of the economic downturn on activity within some areas of the mining and minerals sector.

He said: “There is little doubt that the industry has suffered; the lack of available financing has delayed and disrupted a number of projects and there have been fewer companies coming to market.

“But these are economic issues rather than challenges specific to AIM itself. Confidence in the global economy is improving, demand for base and precious metals is improving, and investor appetite for both new and secondary issues is gradually returning.”