Ansteel Group’s $39 Million Acquisition of Gindalbie Metals Limited

Norton Rose Fulbright has advised Ansteel Group, a Chinese state-owned steel producer, on its $39 million acquisition of independent Australian resources company, Gindalbie Metals Limited.

Ansteel Group, which has a production capacity of 39 million tons of raw steel and is a large producer of other minerals and ores like vanadium and titanium, supplies products for a wide range of industries including shipping, railway, machinery and aeronautics.

The cross-border deal requires the Perth-based Gindalbie Metals Limited to simultaneously demerge its subsidiary Coda Minerals Limited, and will result in the Ansteel Group acquiring 100% of Gindalbie Metals Limited and a stake in Coda Minerals Limited.

The Ansteel Group and Gindalbie Metals Limited have previously engaged in a joint venture, the Karara Iron Ore Project, a large-scale magnetite concentrate mining operation for export to Asian markets. Norton Rose Fulbright also previously advised on all aspects of the establishment, financing, and operation of the Karara project.

Norton Rose Fulbright advised Ansteel Group with James Stewart (Picture), Andrew Fisken, Roger Hawkins, Natasha Dhillon-Penner, Lillian Chau, Sahar Rostabeik and Carol Sin.

Involved fees earner: Lillian Chau – Norton Rose Fulbright; Natasha Dhillon-Penner – Norton Rose Fulbright; Andrew Fisken – Norton Rose Fulbright; Roger Hawkins – Norton Rose Fulbright; James Stewart – Norton Rose Fulbright;

Law Firms: Norton Rose Fulbright;

Clients: Ansteel Group;

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Author: Michael Patrini