China Metallurgical Construction Group US$80 million nickel mine, Papua New Guinea
Our lawyers acted for China Metallurgical Construction (Group) Corporation (MCC) in its 85% interest in the Ramu project, a US$800 million nickel mine, refinery and port development located at Madang Papua New Guinea (PNG). Ramu will be the first non-ferrous, offshore, mine development by a Chinese company. Ramu is also the first major new mine development in PNG for a decade and the first mining project in PNG to involve secondary processing. We advised on the project due diligence, preparation and negotiation of overriding project investment documentation as well as joint venture and sales arrangements. Our team are negotiating with the PNG Government on the concession terms (mining development contract), advising on associated structuring and investment issues and providing advice on financing.
Acquisition by China Huaneng Group of a 25.5% interest in the Monto Coal Project from Macarthur Coal Pty Ltd
We are acting for China Huaneng Group, the largest Chinese power generator. This is the second time we have acted for the Group. Before this, we successfully acted on its acquisition of two coal fired supercritical power stations from InterGen. The Monto Coal Project is a greenfield thermal coal mine located in central Queensland.
China Huaneng Group’s acquisition of 50% of OzGen
We advised China Huaneng Group on all aspects of the US$227 million acquisition of a 50% share of OzGen, the holding company for InterGen’s Australian power generation assets. OzGen owns a 50% indirect interest in Callide and a 53.7% interest in Millmerran, two coal-fired supercritical power stations in Queensland, Australia. This was the first offshore investment in a major power generating asset by a state-owned China power enterprise. We advised on all aspects of China Huaneng Group’s bid including negotiation of the sale documentation and shareholders agreement. The complex investment structure involves the underlying assets project financed in a separate joint venture and partnership and governance arrangements involving several offshore entities in different jurisdictions.
Top legal adviser, Asia Pacific Renewable Power Projects, 2005