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ARTICLE · 28 JULY 2013

Mining Sector Update: July 2013 Edition

Corrs Chambers Westgarth
Corrs Chambers Westgarth
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Corrs Chambers Westgarth

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This is a summary of recently completed deals, market rumours, potential opportunities and relevant regulatory updates.

AustraliaEnergy and Natural Resources
Michael MacGinley
Michael MacGinley
Bruce Adkins
Bruce Adkins
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INTRODUCTION

Welcome to the July 2013 edition of the Australian Mining Sector Update, a monthly publication prepared by Corrs Chambers Westgarth for clients who are interested in the Australian mining industry.

This publication brings together a brief summary of information on recently completed deals, market rumours, potential opportunities and relevant regulatory updates.

RECENT ANNOUNCEMENTS

On 30 May 2013, ASX-listed Cockatoo Coal announced that it has reached an agreement to sell its 30% interest in Hume Coal to POSCO Australia for A$9.74 million cash and the termination of 134.8 million Cockatoo Coal shares held by POSCO Australia. the deal is conditional on shareholder and regulatory approval, as well as a positive independent expert opinion in relation to the fairness and reasonableness of the agreement. the deal will end Cockatoo Coal's management agreement with Hume Coal, as well as cancelling all future cash call obligations of Cockatoo Coal

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