Use of cookies by
Norton Rose Fulbright
We use cookies to deliver our online services. Details and instructions on how to disable those cookies are set out at nortonrosefulbright.com/cookies-policy. By continuing to use this website you agree to our use of our cookies unless you have disabled them.
Norton Rose Fulbright advises Chinese mining company on US$960m acquisition in Argentina | Global law firm | Norton Rose Fulbright

Norton Rose Fulbright advises Chinese mining company on US$960m acquisition in Argentina

April 07, 2017

Contacts

Global law firm Norton Rose Fulbright has advised Shandong Gold Mining Co. Ltd (SDG), a Chinese mining company, on the acquisition of 50% of shares in Veladero gold mine in Argentina, owned by Barrick Gold Corporation (BGC), for US$960 million.

The Veladero mine is one of the largest gold mines in Argentina and the world. It is located in the San Juan Province of Argentina, Frontera District and produced 544,000 ounces of gold in 2016. Shandong Gold Mining Co. Ltd is listed on the Shanghai Stock Exchange and is a leading gold company in China.

Following the acquisition, SDG will hold directly and indirectly 50% of Mineral Argentina Gold S.R.L. under a joint venture with Barrick Gold Corporation, one of the world’s largest gold producers. The transaction also includes a strategic co-operation regarding SDG exploring the possibility of becoming a substantial investor in Barrick’s Pascua Lama mine project, one of the world’s largest undeveloped gold deposits, located on the El Indio Gold Belt on the border of Argentina and Chile.

The Norton Rose Fulbright team was led by corporate partners Yi Wang (Beijing) and David McIntyre (Toronto), supported by associates Lianying Wang, Tom Wang, and Lucy Liu and paralegal Han Qiu and Sherry Zhou. Competition law advice was provided by Hong Kong competition partner Marc Waha, supported by associate Sophie Chen.

Yi Wang, commented:

“This is a significant transaction in the mining industry and highlights Chinese investment into Argentina. The acquisition shows not only the expansion of Shandong Gold in to the South American region, but more importantly the commencement of its plan of internationalism through its strategic commercial relationship with Barrick.”

For further information please contact:

Stuart Lennon, Senior Marketing and Communications Manager, Asia
Tel: +852 3405 2306
stuart.lennon@nortonrosefulbright.com

Notes for editors:

Norton Rose Fulbright

Norton Rose Fulbright is a global law firm. We provide the world’s preeminent corporations and financial institutions with a full business law service. We have more than 3500 lawyers and other legal staff based in more than 50 cities across Europe, the United States, Canada, Latin America, Asia, Australia, Africa, the Middle East and Central Asia.

Norton Rose Fulbright will combine with Chadbourne & Parke, a leading international law firm, during the second quarter of 2017. Norton Rose Fulbright's expanded practice will have more than 1000 lawyers in the US and 4000 lawyers worldwide.

Recognized for our industry focus, we are strong across all the key industry sectors: financial institutions; energy; infrastructure, mining and commodities; transport; technology and innovation; and life sciences and healthcare.

Wherever we are, we operate in accordance with our global business principles of quality, unity and integrity. We aim to provide the highest possible standard of legal service in each of our offices and to maintain that level of quality at every point of contact.

Norton Rose Fulbright Verein, a Swiss verein, helps coordinate the activities of Norton Rose Fulbright members but does not itself provide legal services to clients. Norton Rose Fulbright has offices in more than 50 cities worldwide, including London, Houston, Toronto, Sydney and Johannesburg.

For more information, see nortonrosefulbright.com/legal-notices.