Jurisdiction - Australia
News
Ashurst Advises Peabody Energy On Glencore Joint Venture.

27 November, 2014

 

Ashurst has advised Peabody Energy Australia in its coal joint venture with Glencore in NSW’s Hunter Valley. Peabody Energy announced an agreement to establish a joint venture between its Wambo Open-Cut Mine and Glencore’s United Mine. The 50-50 joint venture will combine Wambo’s Open-Cut mining operations with United’s adjacent reserves in the Hunter Valley. Glencore will manage the combined mining operations utilising Wambo Mine’s existing infrastructure, while Peabody will continue to operate coal washing and loading facilities. The project is anticipated to commence in 2017, subject to regulatory approvals.

 

Ashurst’s lead partner on the matter Murray Wheater said: “This joint venture is an important efficiency project for both Peabody and Glencore and we are delighted to have assisted Peabody in reaching this milestone.”

 

Conventus Law

Follow us on Twitter @conventuslaw

Comments are closed.