Allens, Clayton Utz, Nishimura & Asahi, And Jones Day Advised On Whitehaven Coal’s Sale Of Stakes In Blackwater Mine

Allens, Clayton Utz, Nishimura & Asahi, And Jones Day Advised On Whitehaven Coal’s Sale Of Stakes In Blackwater Mine

Allens has advised Australia’s Whitehaven Coal on the sale of significant stakes in its Blackwater coking coal mine to Japan’s Nippon Steel and JFE Steel. Nippon Steel acquired a 20 percent stake, while JFE Steel purchased a 10 percent stake, bringing the total value of the transactions to $1.08 billion.

For Nippon Steel, Clayton Utz and Japan’s Nishimura & Asahi provided legal representation. Jones Day acted on behalf of JFE Steel.

Australia remains the primary source of high-quality coking coal for Japanese steelmakers, who are facing increasing competition from India and Indonesia. The deal is seen as a strategic move by Japanese steelmakers to secure long-term, high-quality coal supplies amid growing concerns over climate change and challenges in developing new mining projects.

The Clayton Utz team, which handled Nippon Steel’s interests, was led by Partners Samy Mansour, Joel von Thien, and Stuart MacGregor. They were supported by energy Partners Ben Cansdale and Susan Taylor, projects Partner David Lester, environment Partner Karen Trainor, real estate Partner Michael Richardson, competition Partner Mihkel Wilding, employment Partner Hilary Searing, IP & technology Partners Timothy Webb and Cameron Gascoyne, and commercial litigation Partner Chris Erfurt.