Yunnan Tin Group (Holding) Company Ltd
Yunnan Tin Group (Holding) Company Ltd (“YTG”)
We advised the Chinese corporation YTG, China’s and the world’s largest tin producer and tin base manufacturer, on its unincorporated joint venture with Bluestone Mines Tasmania Pty Ltd (“BMT“), a wholly owned subsidiary of Perth based Metals X Ltd (“MLX“) with regard to its tin interests in Tasmania. The transaction involved the acquisition by YTG, together with a Hong Kong based group, Parksong Mining and Resource Recycling Limited, of an interest of up to 60% in those tin assets. We carried out comprehensive legal due diligence into the potential investment and assisted YTG with the extensive negotiations regarding the binding Heads of Agreement to establish the commercial terms for the Chinese investment. We also acted for YTG and the Parksong Group in making submissions and obtaining a decision of non-objection from the Australian Foreign Investments Review Board (“FIRB”) in relation to the acquisition and joint venture. Our role also extended to drafting, reviewing and negotiating the underlying transaction documents, advising on and assisting YTG and the Parksong group to establish the appropriate corporate structure in Australia and advising on all aspects relating to the completion of the acquisition and establishment of the joint venture, which took place in March 2010.
Our senior partner, Robin Chambers, represents the Chinese side on the Management Committee of the joint venture.