King & Wood Mallesons (KWM) continues to support long-term client China Molybdenum Co., Ltd on its global growth, as Australian and Hong Kong counsel on its US$550 million streaming transaction with Triple Flag Precious Metals Corp. (Triple Flag). Triple Flag will receive gold and silver deliveries determined by reference to production from the Northparkes copper-gold mine in New South Wales.
The KWM Australia team was led by partners Paul Schroder and Matthew Austin, supported by special counsel Megan Coall, solicitors Damien Yates and Jing Wang. The KWM Hong Kong team was led by partner Wen Huang, with support from senior associate Katrina Chik.
Commenting on the transaction, Paul Schroder said: “KWM are delighted to have once again supported our local client China Molybdenum on a significant global transaction. The streaming agreement provides China Molybdenum with long-term financing at a compelling cost of capital. It demonstrates again the agility of the China Molybdenum team, announcing the first ‘streaming’ deal by a Chinese mining company."
KWM advised China Molybdenum on its acquisition of Rio Tinto’s 80% stake in Northparkes in 2013.