Leading international law firm Clifford Chance has advised a consortium of investors including Credit Suisse, New World, Baosteel and CCB International on their US$151 million investment in ChongHou Energy Resources Limited, the holding company of Qipanjing Mining Company Limited which owns and operates a number of coking coal mines in Inner Mongolia. Coking coal is used in the production of steel and is in high demand in China.
This is one of the largest investments in the mining sector in China this past year.
“China is the world’s largest consumer of coal,” said Corporate partner Terence Foo who led on this transaction. “This transaction highlights that the coal mining sector in China continues to attract strong interest from both corporate and financial investors.”
Terence was supported on this deal by Finance partner Maggie Lo and assisted by senior associate Niao Jiang and associates Kate Pang and Menghan Wang.
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