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FQM Australia Nickel Pty Ltd, a subsidiary of Canadian mining company First Quantum Minerals Ltd, acquired Ravensthorpe Nickel mine in Western Australia from BHP Billiton for US$340 million in 2010. The acquisition was the first in Australia for Canadian owned First Quantum Minerals.
Corrs advised First Quantum on the acquisition, navigating all the relevant regulatory approvals including from the Australian Foreign Investment Review Board and the West Australian Minister for Mines and Petroleum.
The local economy benefited from this injection of funds and more importantly First Quantum’s long-term commitment to realising optimum nickel production with the employment and ancillary opportunities.