You have 0 free articles left this month.

Lawyers Weekly - legal news for Australian lawyers

Powered by MOMENTUM MEDIA
lawyers weekly logo
Advertisement
Big Law

Brisbane firm to advise on major China, Qld coal deal

A Brisbane law firm is advising MetroCoal on it newly announced $30 million joint venture with a subsidiary of China National Coal Group Corp

April 09, 2010 By The New Lawyer
expand image

.

Under the agreement, China Coal Import and Export Company (CCIEC) has acquired a 51 per cent interest in the coal company’s coal exploration permit in Queensland’s Surat Basin.

China Coal has committed $30 million towards exploring and evaluating the area’s potential for future commercialisation options.

Law firm Hopgood Ganim has advised MetroCoal since its incorporation, including on its IPO and ASX listing.

According to Hopgood Ganim partner Michael Hansel, who led the HopgoodGanim team advising on the transaction, the joint venture is a significant milestone for MetroCoal.

“It’s a testament to MetroCoal, its executive team and its suite of coal tenements that it has attracted and formed an alliance with China Coal, a significant player in world coal production that produces over 100 million tonnes of coal a year.”

“MetroCoal has always said that forming strategic alliances would be key for the company and its tenement development … This agreement should expedite MetroCoal’s exploration programme and will go a long way to helping the company meet its exploration target of between 2.5 and 3.5 billion tonnes.”


Tags
You need to be a member to post comments. Become a member today
Got a tip for us?
If you have any news tips or stories to share, feel free to send them our way.
Momentum Media Logo
Most Innovative Company