Australia – Channar Iron Ore Joint Venture
We acted as the lead lawyers for the Chinese Government on the AUD420 million Channar iron ore project in Western Australia. This project, which was between the Chinese Ministry of Metallurgical Industry and Hamersley Iron, Australia’s largest iron producer, was China’s first major foreign investment and provided the ‘model’ joint venture for China for its international projects
The negotiation and documentation of this transaction extended over several years with negotiations being held in China and Australia, and involved the preparation of a number of major agreements, including the joint venture agreement, the management agreement, the mining services agreement and the sales contracts for 200 million tonnes of iron ore to be produced and sold over a 24 year term in China.
Our senior partner represents the Chinese Government on the joint venture Policy Committee and is a director of the subsidiaries which hold the Chinese government’s interests in that joint venture.