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Norton Rose, Corrs sell $3bn Oz mining concession to Adani Group

Norton Rose has advised Australian miner Linc on its sale a $3bn coal tenement in Queensland to a subsidiary of the Adani Group, which was advised by Australian firm Corrs Chambers Westgarth.

The Norton Rose team was led by Brisbane-based partner Michael Joyce and associate Payal Mahindroo.

Corrs advice for Adani Mining Pty Ltd was led by Sydney-based partner John Kelly and senior associate Franka Cheung.

The firms assisted in the sale of the Galilee Coal tenement for a cash consideration of $500m and a royalty stream on the start of production.

The total estimated deal value was around $3bn, according to Norton Rose.

Joyce commented in a press release: "This transaction represents an extremely significant investment by Indian enterprise in the continued expansion of the Australian mining industry and in particular the Queensland coal industry. 

"This investment will have significant beneficial flow-on effects to the economy as a result of the development of the tenement and the associated infrastructure expected to be needed as a result of its development."

Norton Rose signed a merger with Australian law firm Deacons a little over one year ago.

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