DLA Phillips Fox closes mining deal

DLA Phillips Fox has advised Japanese company Toho Zinc Co Ltd (Toho) on its investment in ASX company CBH Resources Ltd (CBH).Among others things, Toho acquired a 50 per cent joint venture…

Lawyers Weekly • 17 February 2010 • Big Law

DLA Phillips Fox has advised Japanese company Toho Zinc Co Ltd (Toho) on its investment in ASX company CBH Resources Ltd (CBH).

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Among others things, Toho acquired a 50 per cent joint venture interest in CBH's Rasp zinc and lead deposit in Broken Hill in western New South Wales. The total value of the transaction was about $105 million.

Brisbane-based partner Eugene Fung led the deal and was happy with the result, which he said was an essential part of CBH's ongoing funds and recapitalisation strategy at Broken Hill.

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"The deal is an excellent outcome for both sides. It paves the way for CBH to unlock significant value from its Rasp development, whilst substantially reducing its debt and it secures for Toho the zinc and lead production from Rasp for the life of the mine," he said.

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