KWM acts for Newmont to sell 50% share in WA's Super Pit

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King & Wood Mallesons (KWM) is acting for Newmont Goldcorp (Newmont) in the divestment of its 50% interest in the famous 'Super Pit' gold mining operations located at Kalgoorlie in Western Australia.

Newmont's 50% stake in the operations (and certain associated assets) will be acquired by Northern Star Resources Limited, for total consideration of US$800 million. Funds for the acquisition will be raised by Northern Star through debt and a significant underwritten equity raising in excess of A$800 million.

The other 50% interest in the Super Pit operations was last month acquired by Saracen Mineral Holdings Limited (Saracen) from Canadian gold major, Barrick, for a total purchase price of US$750 million.

The KWM team advising Newmont is led by partners Scott Langford and Will Heath, with support from a team headed by special counsel, Michael Robertson and also including partner Tim Edwards, senior associate Tian Xu and solicitors Lachlan Fahey, Lucius Moser, Luci Kjar-Cruttenden and Jordan Osrin.

Commenting on the transaction, Scott and Will said: "Newmont Goldcorp is a valued and longstanding client of the firm, and we are really pleased to be able to assist it in this very significant transaction involving an iconic Australian mining operation."

KWM is a leading legal adviser in mining and resources M&A and project development, including in the gold sector, and is proud to act for a number of key international and Australian gold and other mineral producers.