Leading law firm, Cobbetts LLP, has been ranked as the number one adviser to mining and minerals companies on AIM, according to quarterly figures from Hemscott, the independent international provider of financial data.

Having previously shared the top spot with law firms, Fasken Martineau and Watson Farley & Williams, Cobbetts has resumed sole leadership in the Hemscott basic materials ranking. The statistics also see Cobbetts move up one place in the total AIM client leader board with a total of 29 clients quoted on the exchange, bringing the firm to 14th place overall.

Head of public markets at Cobbetts, Andrew Wright, commented: "As a firm, we have worked tirelessly to build a presence as trusted advisers to AIM-quoted companies and, in particular, to those operating in the basic materials sector. We have travelled extensively to promote the benefits of AIM to international companies, regularly visiting countries such as Russia, China and South Africa. This ranking highlights the importance of such efforts and we are pleased to have resumed our title as the leading legal adviser to mining and minerals companies.”

Looking ahead, 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.

Wright 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. As these factors continue to gain traction, we expect to see enhanced levels of activity in the basic materials sector, and on AIM itself, towards the end of 2009. Until then, we will continue to work hard to raise awareness of the mining and minerals sector and of the value that quotation on AIM can offer to ambitious companies.”