Corrs Chambers Westgarth has advised Linc Energy Ltd and its subsidiary, New Emerald Coal Ltd, on the acquisition of the Blair Athol Coal Mine from Rio Tinto, J-Power, Leichhardt Coal and JCD Australia.
The Blair Athol Coal Mine is located in Queensland’s Bowen Basin and is connected by rail to the Dalrymple Bay Coal Terminal and the Abbot Point Coal Terminal.
Under the Sale and Purchase Agreement, there is provision for New Emerald Coal, as owner of the Blair Athol Coal Mine, to enter into a number of infrastructure sharing arrangements with the owners of the nearby Clermont Coal Mine.
The Corrs team was led by partners Bruce Adkins and Jack de Flamingh and supported by special counsel Stuart Clague and senior associate Nick Thorne. The Corrs team worked closely with Linc Energy’s General Counsel – Corporate Brook Burke and Legal Counsel Romana Price.
Michael Mapp, Linc Energy President said, “The Blair Athol Mine offers a unique opportunity to New Emerald Coal by adding an established asset with minimal efforts and costs to restart the mine”.
New Emerald Coal expects the acquisition to become unconditional within six months and mining to recommence shortly thereafter with a view to producing up to 3 million tonnes of thermal coal per year.
The Queensland Government has welcomed the acquisition with the Minister for Natural Resources and Mines stating that the reopening of the Blair Athol Mine will help boost business in the region, with reciprocal benefits to be felt across the state.
Corrs partner Bruce Adkins said, “Corrs was delighted to assist Linc and New Emerald Coal with this transformative deal which will be integral to New Emerald Coal’s emergence as a significant player in Queensland’s coal industry.”
Allens Linklaters acted for the manager of the Blair Athol Coal Joint Venture, Rio Tinto Coal Australia Pty Ltd.