Login
Newmont stake in WA gold mine sold to Northern Star Resources
Newmont Goldcorp has divested its remaining 50 per cent interest in a Western Australian gold mine with assistance from KWM.
Naomi Neilson
Firm: King & Wood Mallesons (Newmont)
Value: US$800 million.
Area: Mining and resources.
Key players: The KWM team was led by partners Scott Langford and Will Heath, with support from a team headed by special counsel Michael Robertson. Also assisting were partner Tim Edwards, senior associate Tian Xu and solicitors Lachlan Fahey, Lucius Moser, Luci Kjar-Cruttenden and Jordan Osrin.
Deal significance: Newmont’s 50 per cent stake in the operations will be acquired by Northern Star Resources Limited. Funds for the acquisition will be raised by Northern Star through debt and a significant underwritten enquiry in excess of $800 million.
The other 50 per cent interest was last month acquired by Saracen Mineral Holdings Limited from Canadian gold major, Barrick, for a purchase price of US$750 million.
Commenting on the transaction, Mr Langford and Mr Heath said: “Newmont Goldcorp is a valued and longstanding client of the firm and we are really pleased to be able to assist in this very significant transaction involving an iconic Australian mining operation.”
Naomi Neilson
Naomi Neilson is a senior journalist with a focus on court reporting for Lawyers Weekly.
You can email Naomi at:
