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Corrs Chambers Westgarth advised Yancoal Australia Ltd, a wholly owned subsidiary of Yanzhou Coal Mining Company in China, on its acquisition of Syntech Resources Pty Ltd.
Yancoal acquired a number of large thermal coal exploration and production assets located between Miles and Chinchilla in the Surat Basin, southern Queensland from GS Power Holdings LLP, including the Cameby Downs Mine. Syntech currently has JORC compliance coal resources of 723 million and reserves of 440 million tonnes.
The acquisition was made through the purchase of 100 per cent of the equity interests in Syntech Holdings Pty Ltd and Syntech Holdings II Pty Ltd by a Yancoal Australia.
The Corrs team was led by partners Andrew Lumsden and Bruce Adkins, and supported by senior associates David Sim and Franka Cheung and lawyers Maggie Wong and Jennifer Leung.