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ARTICLE · 03 OCTOBER 2013

Mining Sector Update: October 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 October 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 27 September 2013, ASX-listed minerals exploration, development and mining company Inova Resources released its target's statement in relation to China's Shanxi Donghui Coal Coking & Chemicals Group's off market takeover offer for all of Inova's shares at a price of A$0.22 per share. Shanxi Donghui's takeover offer, which was announced on 21 August 2013, is subject to a 51% minimum acceptance condition, as well as obtaining FIRB and Chinese regulatory approvals. Inova's majority shareholder Turquoise Hill Resources (who owns 56.1% of Inova's shares) has entered

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