Our Energy and Resources team provides expert advice to major corporations in the mining, energy and resources sectors in Australia and overseas. We have recently been involved in a number of M&A deals in the mining sector, involving both domestic and international assets.
One such deal is the proposed sale by Stonewall Resources Limited (ASX:SWJ) (Stonewall) of its South Africa subsidiary, Stonewall Mining Pty Ltd (Stonewall Mining), to Shandong Qixing Iron Tower Co. Ltd (002359.SZ) (Shandong). Stonewall is an ASX listed gold mining company that holds a range of prospective gold assets, most of which are located in the South African hold mining regions. Shandong, a listed entity on the Shenzhen Stock Exchange since 10 February 2010, is part of Qixing Group Company Limited. The parties have entered into a conditional agreement with an indicative purchase of US$140m for Stonewall Mining.
We also acted for a private company which recently completed the acquisition of several quarries for a purchase price of circa. AUD$80m.