Visit our CHQA News Hub to stay up-to-date with the latest in corporate governance and law.
Minter Ellison has one of the largest specialist energy and resources legal practices in the Asia Pacific with more than 100 lawyers across Australia, New Zealand, and Asia. Our strength is to combine lawyers from various offices in virtual teams to work with international and domestic clients who are operating across borders.
We work in the electricity, mining and metals, oil and gas, climate change, native title and water sectors throughout the Asia Pacific region.
Advised on syndicated debt project finance commitments for the consortium's shortlisted bid for the Western Australian Government's Mundaring water treatment plant PPP project. This is the first of a number of projects to use the PPP procurement methodology in Western Australia and was the first PPP style project finance transaction completed in WA. It was further complicated by the intricate long-term energy/power requirements of the financing as well as the inclusion of existing pipeline assets of the WA Water Corporation into the project financing.
Advised RTA, a client of over 20 years standing, on carbon liabilities arising in relation to its power generation, alumina refining and aluminium smelting businesses on the Eastern seaboard. This included helping RTA to understand the impact of the new carbon pricing scheme in Australia and with making submissions to Government about the operation of the scheme, advising RTA on assistance available under the scheme and advising on carbon cost pass through arrangements.
Advised ALS Limited on both the capital raising and debt financing elements of ALS Limited's US$533 million acquisition of Reservoir Group.
Assisted Peabody Energy Australia with development of a suite of procurement contracts (including construction contracts) for use across multiple mine sites in Queensland and New South Wales. We currently assisting Peabody in the negotiation of deals based on those templates, with those deals ranging in complexity and value from tens of thousands of dollars to hundreds of millions of dollars.
Advised Centerbridge Partners on a recapitalisation transaction with Boart Longyear. The recapitalisation will involve a series of transactions, including debt refinancing by way of new 'covenenat lite' term loans of up to US$225 million and a US$119-127 equity raising carried out in several stages along with a share buy-back.
Acted for Cheung Kong Holdings Limited, Cheung Kong Infrastructure Holdings Limited & Power Assets Holdings Limited in the successful takeover of Envestra Limited, one of Australia's largest natural gas distributors.
Advised the decision-making Independent Board Committee of Yancoal Australia Limited in connection with its US$2.3 billion pro rata subordinated capital notes offer and balance sheet recapitalisation. This is one of, if not, the largest recapitalization of the past 12 months, and was groundbreaking in the structure of the offer using subordinated capital notes, and the complex set of inter-linking arrangements implemented to shore up Yancoal's balance sheet and ensure its ongoing solvency.
Advised Viva Energy Australia Pty Ltd on the agreement to purchase a non-controlling stake in Liberty Oil.
Advised TrustPower, a New Zealand wind farm and hydro generator, on its purchase of the largest wind farm in Australasia (Tararua), including reviewing the documentation in relation to its construction, financing and connection, advising on all ongoing issues (such as work associated with its expansion), and negotiations with the Crown on obtaining emission units and the trading of those emission units.
Acting for Port Waratah Coal Services Limited (a privately owned facility, the largest shareholder of which is Rio Tinto Coal Australia Limited) in the redevelopment and expansion of the Kooragang Coal Terminal and the Carrington Coal Terminal in the Port of Newcastle.
Providing specialist regulatory / environmental law advice to Phoenix Energy Australia Pty Ltd for its Kwinana Project.
Advised Australian packaging giant, Orora Limited, on gas purchase arrangements with Strike Energy, to underwrite a new gas development project in the Cooper Basin.
Acting for Woodside Group on the North West Shelf $12B domestic gas (Domgas) and LNG Project (for Woodside Group).
Advised Roy Hill in relation to the construction aspects of the Roy Hill iron ore project.
Advised Kempe Engineering Group on the sale of its aluminium smelting businesses in Australia, UAE, Qatar, Saudi Arabia and Mozambique to listed Finnish company, Outotec Oyj.
Advised INPEX in relation to the construction aspects of its $34 billion Ichthys LNG Project. Negotiated the Offshore EPC Contracts with several Korean-based tenderers for the Central Processing Facility (CPF) and the Floating Production Storage and Offloading (FPSO) packages, drafting and negotiation of long-lead equipment supply contracts and negotiating the novation of these contracts to the relevant CPF and FPSO EPC Contractors and developing the suite of construction contracts for use in the project (including template EPC, major equipment supply and services contracts).
Advised Energex on the auditing, development and integration of procurement policies, processes and systems. This included developing the tender conditions (standard and special) and tender documents, discussing the process and outcomes with tenderers, advising on associated tender issues, providing advice to the ENERGEX board, and daily matters such as developing tender and purchasing systems.
Advising Cockatoo Coal on its $125 million accelerated renounceable pro-rata entitlement offer of new fully paid ordinary shares to fund the expansion of its Baralaba Expansion project. The issue price is $0.002 shares at an entitlement ratio of 13.7 new shares for each share held. The Equity Raising is supported by existing Cockatoo shareholders Noble and Harum, as well as new investor Liberty Metals & Mining.
Advised Coal Mines Australia (a BHP Billiton subsidiary) on the Caroona Coal Project, the largest coal exploration project in Australia. We advise on strategic planning, environmental, mining and exploration access issues. We also acted in proceedings in the NSW Land and Environment Court and the NSW Supreme Court on several mining law matters.
Advised Australian Renewable Energy Agency (ARENA) on funding agreements under the Renewable Energy Development Program, Geothermal Drilling Program, Advanced Biofuels Readiness and Emerging Renewables Programs. Also assisted on the establishment of ARENA and related issues.
Advised on the expansion of Anglo American's Dawson and Lake Lindsay projects involved capital expenditure in excess of $1b and required a contracting strategy that would ensure the procurement of coal preparation plants, long conveyors, crushing plants, and associated building and civil infrastructure. We helped Anglo establish several alliances, several EPCM contracts and a multitude of equipment and services procurement contracts.
Acted for Golding Abigroup Joint Venture on the Wiggins Island Coal Export Terminal. The Wiggins Island Coal Export Terminal is a key part of the development of the existing Port of Gladstone. Expected to cost over A$2.5 billion. The new facility provides the additional Gladstone export capacity needed to meet the expansion of the Surat Basin, and growth of mining in central Queensland, which is all focused on the coal demand worldwide. The Abigoup Golding Joint venture was contracted to undertake most of the bulk earthworks and civil works including the coal reclaim tunnels under a contract with final value of approximately A$400 million. We advised the Abigroup Golding JV in relation to various contract dispute issues which arose between the joint venture and the WICET SPV, a consortium of coal mining companies operating in Queensland. During the course of this project, the Principal had issued a number of variations in respect to the reclaim tunnel works. As a consequence, Abigroup Golding JV incurred additional costs in performing the works and suffered delays.
Advised on the acquisition of all the issued capital of U & D Mining Industry (Australia) Pty Ltd by U & D Coal Limited. The acquisition occurred as part of an IPO process. The transaction involved the acquisition of a material set of near term highly prospective coal assets which form the key projects under pinning U&D's IPO.
Advised Baosteel Resources Australia on its successful $1.4 billion joint off-market bid with Aurizon Operations Limited to acquire 100% of the share capital of Aquila Resources. This is the first time a Chinese and Australian company have launched a joint takeover bid.
Advised Baosteel and Aurizon Operations Limited on a joint $1.4bn off-market bid to acquire 100 per cent of the share capital of Aquila Resources. In addition to the takeover matter, we also advised Baosteel Financing 2015 Pty Ltd, an Australian subsidiary of Shanghai Baosteel Group Corporation, on its raising of US500 million through the issue of bonds listed on the Hong Kong Stock Exchange.
Advised ASX-listed Citadel Resource Group Limited, on the recommended A$1.25bn cash and scrip takeover offer from copper producer Equinox Minerals Limited. The deal combined Citadel's advanced Jabal Sayid copper and gold project in Saudi Arabia with Equinox's Lumwana copper project in Zambia to form a company with a potential 260,000 tonnes of copper production a year by 2015. The successful takeover launched the combined group into the mid-tier of global copper producers.
Advised Gloucester Coal on its A$8bn merger with Yanzhou Coal Mining and its wholly owned subsidiary Yancoal Australia by scheme of arrangement. This was the biggest investment by a Chinese state-owned company in Australia's coal industry, continuing a trend of state-backed entities seeking to shore up China's resource security. It created one of Australia's largest listed mining companies, operating mines in NSW and Queensland and with investments in two coal export terminals – Wiggins Island in Gladstone and NCIG in Newcastle.
Advised Rocklands Richfield Limited in response to the takeover offers by Jindal Steel & Power and Linyi Mining Group Co,. Ltd, a company located in Shandong, China for approximately A$200m.
Advised Zijin Mining Group on its A$545m takeover offer of ASX-listed Indophil Resources NL. Zijin is China’s largest gold producer and the third largest copper producer. Indophil Resources is an Australian publicly-listed company whose major asset is a minority stake in the Tampakan copper-gold project in the southern Philippines.
Acted for a subsidiary of PTT Exploration & Production Public Company Limited (PTTEP) in its private treaty acquisition of all issued securities in Coogee Resources from 19 vendors. PTTEP is a Thai-listed national petroleum exploration / production company and one of Thailand's largest companies by market capitalisation. It operates more than 40 projects around the world with a workforce of over 2,000. Coogee Resources is an Australian oil and gas unlisted public company with a portfolio of production, development and exploration assets in the Australian waters of the Timor Sea.
Advised the Queensland Government on the Western Corridor Recycled Water Project – the largest recycled water project in Australia and third largest advanced water treatment project in the world. This A$2.5bn project involves a 200km recycled water pipeline and four treatment plants.
Advised AGL on the first trade in Australian emission trading units, ahead of the official start of a national emissions trading scheme, which saw AGL Hydro Partnership sell Westpac 10,000 tonnes of Australian emission trading units at $19.00 a tonne, for settlement on 1 February 2012.
Lead adviser to North Queensland Bulk Ports Corporation on the $A8.2bn development of the Port of Abbot Point. This project includes the construction of the $A2bn multi-cargo facility and the $A6.2bn expansion of four new coal terminals. The multi-cargo facility project involves creating a sheltered man-made harbour within the waters of the port with up to 12 shipping berths, and 320 hectares of adjoining reclaimed area, shipping access channel and a tug harbour. Once complete, the additional terminal upgrades and other planned port expansions would make Abbot Point the world's largest coal port.
Advised Degremont SA and Suez Environment on its successful bid (with Thiess and Macquarie) to become project partner in the construction and operation of Victoria's A$3.1 billion desalination project, the largest non-road PPP procured by the Victorian government. The deal was awarded the 2009 Asia Pacific PPP Deal of the Year award from Project Finance International.
Advising Horizon Power in Western Australia on the procurement of two power stations from Powercorp Pty Ltd and Sunpower Australia. The A$25m project will incorporate state of the art flywheel technology making these the worlds first high penetration solar photovoltaic and diesel power stations. Once commissioned, the power stations will generate more than 1GWh of renewable energy per annum and supply over 60% of the daytime energy requirements for the two small towns.
Advised AGL Energy on its fully documented bids for the retail businesses and gentrader contracts offered in the 2010 NSW electricity privatisation process. This included advice on due diligence, transaction documentation, coal supply and transport arrangements and electricity, gas and carbon price regulatory issues for the businesses and the acquisition.
Advised the Government of Fiji on the corporatisation and partial privatisation of Fiji's electricity industry.
Acting for Gloucester Coal on a capital raising of approximately A$230m at A$9.00 per share through a fully underwritten non-renounceable accelerated pro-rata entitlement offer. Announced in May 2011 the proceeds will be used to fund the cash consideration for the acquisitions of Donaldson Coal (enterprise value A$585m) and the Monash Group (purchase price of A$30m).
Advising gas buyers in their negotiations with PetroChina on gas procurement projects from the West-East Pipeline, including BASF-YPC on its arrangement to procure gas for its US$3 billion petrochemical plant in Nanjing, and BOC Gases on negotiations over a potential gas offtake which BOC planned to use as feedstock for a large scale petrochemical plant in Nanjing.
Advised Taurus Mineral, owned by CGNPC Uranium Resources Company and The China-Africa Development Fund, on the successful downstream takeover of Extract Resources and the Australian aspects of its GBP640 million upstream offer for Kalahari Minerals plc.
Advising the Queensland Water Commission on the implementation of the South East Queensland water grid, including drafting Queensland's water market trading rules. Our team was involved in providing services related to the Stage 1 and Stage 2 Reforms.
In 2008, we drafted the Grid Contracts for supply of services to the Water Grid Manager and for the supply of water from the Water Grid to Grid Customers and the Water Market Rules. We also drafted the Water Market Rules In the first half of this year, we drafted amendments to those grid contracts and the Water Market Rules to implement the Stage 2 Reforms.
Advised the Australian Coal Association (ACA) in establishing ACA Low Emissions Technologies Limited (ACALET), including on the establishment of ACALET and the Coal21 fund, seeking taxation rulings in relation to contributions to ACALET, negotiating the provisions of the Queensland Clean Coal Technology Special Agreement Act, joint venture arrangements in relation to the CS Energy Oxy-Fuel project and funding of the ZeroGen project.
Advised Xstrata Coal Australia on the environment, planning and mining issues associated with all of its coal mining operations in NSW.
Acted for Baytex Energy Corporation, as strategic tax advisers on its merger with Aurora Oil & Gas Ltd, a ASX listed oil and gas exploration counterpart.
Undertook a detailed review of the impact of the Clean Energy Scheme on the contract supply chain for a major gas producer, including preparation of template contract review documents and analysis of pass through clauses.
Advised to the State of Queensland on the A$6b restructure of the state-owned generation sector.
Lead advisers to the consortium of NorthWest Shelf developers who successfully bid for an estimated US$13 billion LNG supply contract to the Guangdong Terminal Project in China. Our work included advising on and negotiating the full spectrum of contractual agreements and arrangements from sale and purchase agreements, transportation and shipping, to corporate advisory and numerous operational issues.
Advised H&H Holdings Australia Pty Ltd on the acquisition of its strategic stake in listed mining services contractor, VDM Group, through a share and convertible debt placement. Our role included transaction structuring advice and negotiations to help the client manage critical and commercial risks.
Advised an Australian subsidiary of Shanghai Baosteel Group Corporation in relation to its capital raising of US$500 million through the issue of bonds listed on the Hong Kong Stock Exchange.
Advising numerous energy industry clients on the impact of carbon pricing on electricity hedge arrangements and on trading of carbon and other green rights under the environmental product schedule. Clients include Stanwell Corporation Limited, QGC, Rio Tinto and Energex Limited.
Advised Boyne Smelters Limited on both long and short term contracts for the purchase of additional electricity for the Boyne Island Aluminium Smelter and related transmission arrangements. The work included advice on tender documentation, AFSL considerations and developing novel contract structures to operate within the National Electricity Rules.
Acting for the joint venture company on the procurement of energy and associated infrastructure, from Inner Mongolia to Mongolia, for the Oyu Tolgoi copper and gold mine in Mongolia. We are advising on the power purchase agreement, dispatch arrangement and the procurement of transmission facilities and associated infrastructure.
Assisted SunWater in relation to the negotiation and drafting of a cultural heritage management plan and an indigenous land use agreement for the construction and operation of the Connors River Dam and associated infrastructure. We are also providing ongoing assistance to SunWater in relation to native title and cultural heritage compliance for numerous other projects, including the proposed Nathan Dam and Glebe Weir raising and various pipeline projects.
Advised Tokyo Gas on its acquisition of an equity interest in the A$43b Gorgon LNG project from Chevron Corporation. We are also advising Tokyo Gas on the second phase of the Gorgon project. Located on the north west shelf of Western Australia, Gorgon is Australia's single largest gas field, with an expected 30-year life. We reviewed key commercial agreements for the project and conducted an intensive due diligence before negotiation of the equity sale / purchase agreements.
Acted for Peabody Energy Australia in the negotiation and drafting of a cultural heritage management plan for the major expansion of the Eaglefield coal mine in Central Queensland, and acting for Peabody in relation to the negotiating and drafting of a further cultural heritage management plan for a workers' village.
Advising Tokyo Gas on its acquisition of an equity interest in the A$5.5b Pluto LNG project from Woodside Energy Limited. We advised on the management and conduct of large scale due diligence, reviewed and drafted key project documentation. Minter Ellison also advised on FIRB issues, stamp duty and approvals and registration issues.