Allen & Gledhill advised the Myanmar Investors on the deal.
Australian mining company Myanmar Metals Limited (MYL) has divested its entire stake in a historic mining project in Myanmar’s northeast.
MYL has entered into a binding agreements to dispose of its 51-percent stake in the Bawdwin project to its local partner Win Myint Mo Industries Co. Ltd. and EAP Global Mining Co., Ltd (collectively, “Myanmar Investors”) for a total of US$30 million. The Myanmar Investors already own the remaining 49% interest in the Project.
Myanmar Metals Limited (ASX: MYL) offers mining services. The Company provides production, extraction, and distribution of zinc, copper, nickel, silver, lead, and other minerals. Myanmar Metals serves customers in Australia and Myanmar.
Win Myint Mo Industries, subsidiary of National Infrastructure Holdings Co., Ltd., holds a production sharing contract with Mining Enterprise Number 1 of MONREC to undertake production of lead, zinc and silver at the Bawdwin mine. The company holds a 38 km2 mining concession over the Bawdwin mine, Namtu smelter complex and associated infrastructure including power stations, transmission lines and railways.
EAP Global Mining Company Limited owns and operates a manganese mine and coal mine in Myanmar.
The Allen & Gledhill team was led by Director Oh Hsiu-Hau (Picture) from the Myanmar office.
Involved fees earner: Oh Hsiu-Hau – Allen & Gledhill LLP;
Law Firms: Allen & Gledhill LLP;