DLA Piper and Australian firms DLA Phillips Fox and HopgoodGanim have advised on a A$30m joint venture between China Coal Import & Export Company (CCIEC) and Australian junior miner MetroCoal. DLA, along with its alliance firm advised CCIEC and HopgoodGanim advised MetroCoal.
In addition to being an example of an Australia-China collaboration between DLA Phillips Fox and DLA Piper, the deal is also notable in that the Chinese side is taking a lead role as the joint venture manager. DLA Phillips Fox partner Eugene Fung said that the deal could potentially flag a more "hands on" approach to future Chinese investments.
HopgoodGanim partner Michael Hansel said that the transaction also represented a shift in foreign mining investment interest in Australia. "It shows how green field projects like MetroCoal's exploration are gaining interest from cashed up overseas producers, whereas before they were looking at more mature projects and or mature assets," he said.
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