The agreement involves Ardea's Kalgoorlie Nickel Project – Goongarrie Hub
Clayton Utz has coached Ardea Resources Limited as it inked a shareholders' agreement with a consortium comprising Mitsubishi Corporation and Sumitomo Metal Mining Co. Ltd (the Japanese Consortium).
The agreement involves Ardea’s Kalgoorlie Nickel Project – Goongarrie Hub. Clayton Utz described the agreement as a milestone move that reflects the fulfilment of the final conditions precedent and completion under the Cooperation Agreement.
As a result, the Japanese Consortium can begin to fully fund the Definitive Feasibility Study (DFS) for the Kalgoorlie Nickel Project – Goongarrie Hub. The DFS is set to conclude by the second half of 2025.
On 14 August, Ardea confirmed the condition precedent of Foreign Investment Review Board approval.
Clayton Utz corporate partner Mark Paganin and special counsel Scott Girdler took the lead on this transaction, receiving support from senior associate Georgia Mazzega and lawyers Daniel Martinez and Ally Clark.
Recently, the firm also advised Nippon Steel Corporation on an agreement to pick up a 20% stake in the Blackwater mine from Whitehaven Coal Limited. The deal was valued at US$720m, and covered related offtake arrangements.
Nippon Steel Corporation’s acquisition is set to complete by Q1 next year, pending the fulfilment of certain conditions. The transaction also included the negotiation of JV arrangements with JFE Steel Corporation, which entered into an agreement to take a 10% interest in the mine.
Clayton Utz’s team on this deal was helmed by Samy Mansour, Joel von Thien and Stuart MacGregor. They were supported by Tristan Appleby, Greta Burkett, Andrew Holmes, Eric Jeffery and Rhys Kasper.
The following lawyers also pitched in:
Corporate, M&A and capital markets
Energy and resources
Major projects and construction
Environment and sustainable development
Real estate
Competition
Workplace relations, employment and safety
IPT
Commercial litigation
