Clifford Chance

Clifford Chance advises Norilsk Nickel on sale of Black Swan Nickel Project in Western Australia

Leading international law firm Clifford Chance has advised OJSC MMC Norilsk Nickel's Australian subsidiaries on the sale of their Black Swan Nickel Project in Western Australia to Poseidon Nickel Limited (ASX:POS).

"This is the fourth asset sale on which Clifford Chance has advised Norilsk Nickel this year, following the sale of the Avalon, Cawse and its North-Eastern Goldfields Operations," said partner Justin Harris.

"It has been encouraging to find buyers for these assets from local junior and mid-tier miners in Western Australia, many of whom are adding significant new capacity to complement existing operations."

OJSC MMC Norilsk Nickel group is the world's largest nickel and palladium producer and one of the largest producers of platinum and copper. The company originated in Russia more than 70 years ago and currently has operations in Russia, Finland, Botswana, South Africa and Australia.

Poseidon is a nickel sulphide exploration and development company based in Perth, Western Australia.  

The sale is subject to regulatory approvals and satisfaction of other customary closing conditions and is expected to close in the second half of 2014.

Justin Harris led the Clifford Chance team advising Norilsk Nickel, assisted by corporate counsel Sean Houthuysen and environmental law counsel Robyn Glindemann.