Squire Patton Boggs has advised Huineng Gold Pty Ltd on the acquisition of 100% in Primary Gold Pty Ltd (a member of HK listed entity China Hanking Holdings Limited), with a transaction value greater than $300 million.
Primary Gold holds gold exploration and development assets in the Northern Territory of Australia, including the Mt Bundy gold project. Huineng is a member of the coal, electricity and chemical conglomerate Inner Mongolia Huineng Coal & Electricity Group.
The multi-jurisdictional and cross disciplinary team working on this transaction consisted of partners Tony Chong and Samantha Smart, Melissa Koo and Kim Hodge and directors Tina Zhou, Blair Strickland and Anthony Jarvis all based in Perth, and partner Laura Wang in Beijing.
Tony Chong commented: “It was great to work with the team at Huineng Gold who entrusted us with their first significant acquisition in Australia, with our team providing great depth of knowledge and experience in the natural resources sector to enable this successful transaction. We look forward to continuing this relationship with Huineng Gold.”