Lane Neave has advised BT Mining, a joint venture between Bathurst Resources Limited and Talley’s Energy Limited, on the acquisition of assets from three mines acquired from Solid Energy New Zealand Limited (subject to deed of company arrangement).
The assets include the Stockton mine on the West Coast, as well as the Rotowaro and Maramarua mines in the Waikato region.
Settlement of the transaction is the culmination of over 15 months’ of legal work including a comprehensive due diligence process, negotiation of transaction documents through a competitive bid process and a long period to settlement in which various conditions precedent and other legal issues were addressed. This included Overseas Investment Office approval, New Zealand Petroleum & Minerals approvals, addressing complex land and leasing arrangements, the novation of various key contracts, stakeholder approvals and negotiation with Treasury over the application and transfer of environmental rehabilitation indemnities.
The Lane Neave team was led by partner Gerard Dale and included Joelle Grace, Rebecca Cotter, Josh Leckie and Sam Nelson.
“We are pleased to be involved in advising our client, BT Mining, in the successful completion of this complex transaction, and I am proud of the hard work and dedication shown by our team in getting the transaction across the line” said Dale.
“This is a tremendous milestone for the industry and we are delighted to be involved in a deal that will have such a significant impact, both economically and socially, for communities where the mining operations are located.”
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