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ARTICLE · 05 SEPTEMBER 2013

Mining Sector Update: September 2013 edition

Corrs Chambers Westgarth
Corrs Chambers Westgarth
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Corrs Chambers Westgarth

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

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

Welcome to the September 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 16 August 2013, ASX-listed iron ore miner Fortescue Metals announced that Taiwan's largest private company Formosa Plastics has invested US$1.15 billion into the FMG Iron Bridge Joint Venture which is developing the FMG Iron Bridge Project located in Western Australia. The FMG Iron Bridge Joint Venture is currently owned by Fortescue Metals (with an 88% interest) and China's Baosteel (with a 12% interest). Under the recent agreement, Formosa will acquire a 31% interest in the joint venture for US$123 million, as part of its US$1.15 billion investment. Formosa

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