Allens has advised Kinterra Capital Corp. (Kinterra) on its successful off-market takeover bid for ASX-listed New World Resources Limited (ASX:NWC; New World). The successful bid followed a contested process involving competing proposals and proceedings before the Takeovers Panel.
New World is an Australian mineral exploration and development company focused on copper and other critical mineral projects in North America. Its flagship project, the Antler Copper Project in Arizona USA, is a designated 'Transparency Project' under the United States' FAST-41 framework – a streamlined permitting process for critical mineral projects in the United States.
'It was a privilege to support Kinterra in its acquisition of New World. This transaction is a significant milestone in the critical minerals sector, and we are grateful to have played a part in helping Kinterra achieve a successful outcome' said Charles Ashton, Partner and Head of Critical Minerals.
'You can't decarbonise the global economy without first securing critical minerals. This transaction showcases the essential role of Allens' market leading cross-border public M&A practice in making that happen,' he said.
The transaction underscores continuing M&A activity in the copper sector, following recent deals including Greatland's acquisition of an interest in Newmont's Western Australian copper-gold projects, Rio Tinto's proposed sell-down and joint venture of its Winu Copper-Gold Project, and Bastion Mining's off-market takeover of Xanadu Mines.
