find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Dynamic organisation ·
View details
Senior Government Lawyer
Category: Other | Location: Canberra ACT 2600
· FINANCE LEGAL AND GOVERNANCE GROUP | CANBERRA, ACT · EXECUTIVE LEVEL 1 (ONGOING)
View details
Corrs advises on First Quantum, BHP deal

Corrs advises on First Quantum, BHP deal

Corrs Chambers Westgarth is advising First Quantum Minerals on its proposed AU$372 million acquisition of BHP’s Ravensthorpe Nickel operation in Western Australia.

CORRS Chambers Westgarth is advising First Quantum Minerals on its proposed US$340 (AU$372) million acquisition of BHP’s Ravensthorpe Nickel operation in Western Australia.

First Quantum announced it had entered into a binding agreement with BHP Billiton on 8 December.

First Quantum is understood to have won BHP’s auction despite being the lowest of three bids, The Australian reports.

First Quantum’s first bid was compelling due to its financial and operational capability as well as the lack of conditions on its bid, the newspaper reported.

The agreement is subject to relevant approvals from the Australian Foreign Investment Review Board (FIRB) and the West Australian Minister for Mines and Petroleum. If approved, the acquisition is expected to be finalised during the first quarter of 2010, Corrs said yesterday.

Philip Pascal, chairman and CEO of First Quantum, said the acquisition was a major step in the Canadian company achieving its goal of becoming a globally diversified mining company.

The Ravensthorpe development was completed in 2007 but operations were suspended in January 2009 due to low nickel prices in the aftermath of the GFC.

Corrs’ head of the energy and resources, Adam Handley, said: “We are delighted to have worked with First Quantum on their first Australian project acquisition. The acquisition
will add to First Quantum’s already diversified portfolio of assets and will certainly support First Quantum’s goal of becoming one of the world’s leading nickel producers.

“We are also confident that the investment will generate economic growth opportunities, including job creation, in Western Australia and the Ravensthorpe/Hopetoun region,” Handley said.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Corrs advises on First Quantum, BHP deal
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Scales of Justice, Victorian County Court, retiring judges
Aug 21 2017
Replacements named for retired Vic judges
Two new judicial officers have been appointed in the Victorian County Court, following the retire...
Applauds
Aug 21 2017
LCA applauds proposed Modern Slavery Act
The Law Council of Australia has welcomed new recommendations for the development of a Modern Slaver...
Mentoring
Aug 21 2017
Top-tier offers targeted mentoring for Indigenous law students
Students at Macquarie University will be the first to benefit from a new Indigenous mentoring progra...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...