find the latest legal job
Monash University Director Workplace Relations
Category: Industrial Relations and Employment Law | Location: All Melbourne VIC
· Exceptional senior leadership role
View details
Personal Injury Lawyer - Melbourne Eastern Suburbs - 2-5 years PAE
Category: Personal Injury Law | Location: Lilydale VIC 3140
· Fulfilling role as part of a small team in a positive workplace
View details
Legal Counsel
Category: Banking and Finance Law | Location: Sydney CBD, Inner West & Eastern Suburbs Sydney NSW
· In-house opportunity · Be part of our engine for success in a high growth business
View details
Trainer/Assessor Diploma of Legal Services
Category: Other | Location: Liverpool NSW 2170
· 3 Days Per Week · 9am - 4pm
View details
Corporate and Commercial Partner
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Adelaide CBD · Join a leading Adelaide commercial law firm
View details
HDY helps Jupiter acquire South African mine stake

HDY helps Jupiter acquire South African mine stake

Jupiter Mines Limited, advised by Henry Davis York (HDY), has successfully acquired a 49.9 per cent share in the Tshipi Kalahari manganese project in South Africa. Jupiter acquired the stake…

Jupiter Mines Limited, advised by Henry Davis York (HDY), has successfully acquired a 49.9 per cent share in the Tshipi Kalahari manganese project in South Africa.

Jupiter acquired the stake from the Pallinghurst co-investors and Investec Bank Limited in exchange for shares in Jupiter. As a result, at completion of the transaction, the Pallinghurst co-investors, comprising Pallinghurst Resources (lead by Brian Gilbertson), POSCO (advised by Blake Dawson), AMCI Capital, The Energy & Minerals Group and Investec, will control 85 per cent of Jupiter.

HDY was the legal adviser on the acquisition which was completed on 29 October and has resulted in an increase to Jupiter's market capitalisation to over $600 million.

HDY partner Robert Tracy was the key adviser on the deal along with senior associate Iona Borthwick.

Tracy said of the deal: "The acquisition has been a company-making deal for Jupiter and is a significant step in its steel feed corporation strategy.

"The transaction is also representative of the increasing interest of Australian exploration companies in acquiring offshore assets to complement their Australian interests, and also highlights the continued attractiveness of the Australian resources sector to high profile international players."

The Tshipi Project has an inferred/indicated resource base of 163.2 million tonnes (comprising 101.4 million inferred and 61.8 million indicated) of manganese ore at an average grade of 37 per cent. Tshipi anticipates commencing manganese ore production by early 2012.

Promoted content
Recommended by Spike Native Network