find the latest legal job
Banking Associate - 1-6PQE - Allen & Overy
Category: Banking and Finance Law | Location: United Kingdom
· Banking Associate - 1-6 PQE - Allen & Overy
View details
Academic Dean and Head of School of the TC Beirne School of Law
Category: Other | Location: Brisbane QLD 4000
· An outstanding opportunity · Provide educational, research and organisational leadership
View details
Senior Property Lawyer I Commercial Litigator
Category: Property Law | Location: Arncliffe NSW 2205
· Rapidly growing law firm, working with a highly experienced team in a high growth industry across all areas of property and strata law
View details
Senior Property Lawyer I Commercial Litigator
Category: Property Law | Location: All Sydney NSW
· Rapidly growing law firm, working with a highly experienced team in a high growth industry across all areas of property and strata law
View details
Senior Property Lawyer I Commercial Litigator
Category: Property Law | Location: Sydney NSW 2000
· Rapidly growing law firm, working with a highly experienced team in a high growth industry across all areas of property and strata law
View details
Allens advises on major mining double

Allens advises on major mining double

Allens Arthur Robinson has advised international mining group Rio Tinto on the extension of its Channar Mining joint venture (Channar JV) with a Chinese state-owned metals trading house,…

Allens Arthur Robinson has advised international mining group Rio Tinto on the extension of its Channar Mining joint venture (Channar JV) with a Chinese state-owned metals trading house, Sinosteel Corporation.

The agreement is an extension of the historic 1987 deal in which Channar JV agreements for the production of 200 million tonnes of iron ore in the Pilbara region of Western Australia were signed. The deal was regarded as the first major Chinese foreign investment in the Australian mining industry.

The extension of the ground-breaking joint venture, sealed at a signing ceremony at the Diaoyutai State

Guesthouse in Beijing on 3 December, paves the way for a further 50 million tonnes of iron ore to be produced by the Channar JV at the Channar mine.

The Channar JV - in which Rio has a 60 per cent stake - owns the Channar mine and the arrangements for the extended term provide Sinosteel with 100 per cent take-off rights for Pilbara Blend product (into which Channar ore feeds).

Allens partner Nic Tolé led the matter, joining senior associate Mark McAleer in attending the Diaoyutai State Guesthouse signing ceremony alongside senior executives from Rio, Chinese Government officials and the Australian Ambassador to China.

Allens also advised Rio on the signing of a strategic cooperation framework agreement with Sinosteel for potential cooperation in, and joint development of, iron ore opportunities in and around the Channar mine.

Chambers & Company acted for Sinosteel Corporation.

Allens has also advised Rio Tinto on its non-binding Memorandum of Understanding (MoU) with Aluminum Corporation of China (Chinalco) to establish a landmark exploration joint venture in China.

The new Rio-Chinalco joint venture, announced on Friday (3 December) and expected to come into operation in the first half of 2011, will allow the two companies to explore mainland China for quality mineral deposits.

Under the proposed arrangements, Chinalco will hold a 51 per cent interest in the joint venture, with

Rio Tinto holding the remaining 49 per cent stake.

Partner Scott Langford, who is leading the Allens team advising on the matter, said: "Combining Rio Tinto's expertise with Chinalco's deep understanding of the Chinese exploration environment makes a lot of sense."

The MoU announcement follows on from this year's joint venture agreement between Rio Tinto and Chinalco on the Simandou project.

Clifford Chance (Beijing) acted for Chinalco.

Like this story? Read more:

Book commemorates diamond milestone for WA law society

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

NSW proposes big justice reforms to target risk of reoffending

Allens advises on major mining double
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Gavel, legal book, criminal lawyers
Jan 19 2018
Three criminal lawyers named NSW magistrates
The NSW Attorney-General has announced the appointment of three new local court magistrates. ...
Warning
Jan 18 2018
Lawyer highlights ‘unintended consequences’ on SSM estate planning
A succession lawyer has warned that the right for same-sex couples to legally marry could have a sub...
drug rehabilitation services available in rural and remote communities
Jan 18 2018
ALS survey shines spotlight on insufficient rehabilitation services
A new survey posted by the Aboriginal Legal Service (NSW/ACT) has revealed an alarming insight into ...
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 & ...