FREEHILLS has advised on a US$1.846 billion (AU$1.877 billion) deal as China Minmetals Non-Ferrous Company Ltd’s (CMN) Australian arm is taken over by a wholly owned subsidiary of its parent company.
The firm acted as global lead counsel advising CMN on the sale of the various Australian and international mining assets to Minmetals Resources Limited (MMR).
An MMG spokesman said Minmetals Resources, a Hong Kong Stock Exchange-listed trading house with interests in bauxite, alumina, aluminium and copper production, would become a unique upstream minerals producer following the acquisition of MMG, The Age newspaper reported.
Freehills partner John Tivey worked with Minerals and Metals Group (MMG) general counsel and company secretary, Nick Myers to lead the international legal team advising CMN and with partners, Dan Brealey and Tim McEwen and senior associates, Jonathan Li, Matthew Love and Martin MacDonald at Freehills.
The unlisted Melbourne-based MMG was formed in June last year after China Minmetals, one of the world's largest zinc producers, bought most of OZ Minerals Ltd's assets including the Golden Grove multi-metal project in Western Australia for $US1.386 billion ($A1.4 billion).
CMN acquired the assets in 2009 and has operated them under the MMG brand name. MMG currently operates four major mining operations: being the Century, Golden Grove and Rosebery mines in Australia and the Sepon operations in Laos.