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KWM has advised Glencore on its acquisition of majority shares in two of Queensland’s Bowen Basin mines.
Firm: King & Wood Mallesons (Glencore)
Value: US$1.7 billion
Area: Mining, M&A
Key players: KWM’s team was led by partner Nicholas Pappas alongside Time Sherman, Katrina Parkyn, Wayne Leach and Malcolm Brennan. Support was provided by senior associates James Darch, Victoria Lanyon, Rob McEvoy and Marissa Todkill with solicitors Will Mason, Lara Moreton and graduate Ingrid Wright.
Deal significance: The mine’s acquisition will see Glencore holding an 82 percent share in the Hail Creek Coal mine and a 71.2 percent share in the Valeria coal project. Both are located in Queensland’s Bowen Basin.
Hail Creek operates as a large-scale, long-life and low-cost mine that produces premium quality hard coking coal and thermal coal for export while Valeria reports 762 million tonnes of JORC resources.
Nicholas Pappas said KWM was pleased to assist Glencore in reaching an agreement to acquire two significant assets “that will contribute to the growth of their Australian coal business. This deal demanded a holistic team that could advise across a diverse range of legal aspects.”
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Grace Ormsby
