Grace Quigley
Snr Adviser External Comms •
Sydney
Media Release: Clayton Utz advising Nippon Steel Corporation on its acquisition of a stake in the Blackwater Mine
1 minute
Clayton Utz is advising Nippon Steel Corporation on its recently announced US$720 million agreement[1] to acquire a 20% interest in the Blackwater mine in Central Queensland from Whitehaven Coal Limited, including associated offtake arrangements. The transaction also involved negotiating joint venture arrangements with JFE Steel Corporation which has agreed to acquire a 10% interest in the Blackwater mine.
Nippon Steel Corporation is Japan’s largest steelmaker and one of the world’s leading steel producers. JFE Steel Corporation is the second largest integrated steelmaker in Japan, with Whitehaven Coal Limited one of Australia’s leading producers of metallurgical and thermal coal.
Clayton Utz Partner Samy Mansour said:
We congratulate Nippon Steel Corporation on this transaction, which will continue to enhance its aims to become the best steelmaker with world-leading capabilities.
Samy Mansour, Joel von Thien and Stuart MacGregor headed the Clayton Utz team with key support from Tristan Appleby, Greta Burkett, Andrew Holmes, Eric Jeffery and Rhys Kasper. The broader multi-disciplinary team included Mariam Azzo, Lauren Parnaby, Amel Saeed and Jayden Hwang (Corporate, M&A & Capital Markets), Ben Cansdale, Susan Taylor, Jon Prentice, Georgia Davis, Sophie-Rose Greer, Morgan Gabriel and Catherine McKay (Energy & Resources), David Lester (Major Projects & Construction), Karen Trainor, Kate McLean and Matthew Hales (Environment & Sustainable Development), Michael Richardson, Leighton Smith and David Lean (Real Estate), Mihkel Wilding, Paul Shin and Ankita Choudhary (Competition), Hilary Searing and Martin Bartlett (Workplace Relations, Employment & Safety), Timothy Webb, Cameron Gascoyne, Patrick Sefton and Claire Bothwell (IP & Technology) and Chris Erfurt (Commercial Litigation).
Completion of the acquisition of Nippon Steel Corporation’s interest is expected to occur in the first quarter of calendar year 2025, subject to the satisfaction of certain conditions.
Nishimura & Asahi is also acting for Nippon Steel Corporation, Allens is acting for Whitehaven Coal Limited, and Jones Day is acting for JFE Steel Corporation, on this transaction.
[1] Subject customary completion adjustments.
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