JOGMEC has invited government officials of coal producing countries and senior representatives of coal companies to present on coal related policy and development of the coal projects at our Coal Investment Promotion Seminars.

　Under the MOU between JOGMEC and the State of Queensland for strategic partnership, we most recently invited Mr. Hiroyuki Kano, a Partner at Clayton Utz, who is involved in M&A’s in both Queensland and Japan to present at a seminar themed on “Legal issues for consideration in recent coal project equity acquisitions” to discuss legal points to be taken into consideration when acquiring a coal mine for $1.

　With the recent market downturn, there has been an increase in the number of projects that have either ceased production or been sold at a low price. The seminar raised important points from a legal perspective that Japanese companies should consider when they sell a portion of their equity in a project to exit from it completely or when they acquire equity in a prospective coal mine at a low price.

　In the Q&A session, there was further discussion about how to negotiate when the seller take on some liabilities or when the seller has a low credit profile, and strategies for indemnification for representations and warranties.

　This seminar was attended by over 50 representatives from steel, electricity companies, trading companies and other international organizations.

　We would like to continue to provide useful information to Japanese companies through these seminars and undertaking of studies. Therefore, if you like to receive the latest information on coal developments, please either visit the JOGMEC Coal Development section homepage or register for our newsletter “JOGMEC Coal Newsletter”

　We would like to further improve the quality of information we provide and our development assistance programs, so continue to welcome your feedback and comments.