The Bulimba Project comprises four exploration licences in northeast Queensland and is designed to capture the significantly underexplored extension of the fertile Palmerville Fault - Gamboola Fault Zone that is highly prospective for intrusion-related gold systems.
The transaction brings together Japanese and Australian mining expertise and high quality Australian exploration assets, supporting continued cross border investment in Australia's resources sector and reinforcing Queensland's role as a key destination for mining in Australia.
Geread Dooley, Partner at MinterEllison, said:
"This transaction demonstrates the continued appetite of Japanese investors for high quality Australian exploration assets and the strength of cross-border investment into Australia. We were delighted to support Sumitomo Metal Mining on this important project."
Naota Suzuki, Senior Associate at MinterEllison, said:
"We were honoured to advise Sumitomo Metal Mining on this important project. This transaction reinforces the importance of MinterEllison's Japan practice and our ability to deliver bi-lingual and bi-cultural legal solutions to our Japanese clients."
MinterEllison advised on all legal aspects of the transaction, including due diligence, preparation and negotiation of all transaction documents, GST and stamp duty advice, and completion. The team was led by Geread Dooley (Partner, M&A/Capital Markets) and Naota Suzuki (Senior Associate, M&A/Capital Markets) with support from Katherine Beer (Associate, M&A/Capital Markets) and Molly Eason (Lawyer, M&A/Capital Markets).
The transaction further demonstrates the firm's long-standing commitment to supporting Japanese clients investing into Australia.
