Ashurst has acted for Sojitz Coal Mining (Sojitz) in a proposed joint venture between Sojitz and U&D Mining Industry (Australia) Pty Ltd (U&D) and Endocoal Pty Ltd (EOC) for the development of the Meteor Downs South (MDS) project in central Queensland.

U&D and Sojitz on 16 May 2014 signed an agreement for a proposed 50/50 joint venture and farm-in agreement in relation to U&D's MDS project.

Sojitz has existing coal assets located in the vicinity of MDS and considers there could be synergies between the two sites and cost savings through the potential use of existing rail infrastructure. U&D considers Sojitz has complementary resources and expertise and this joint venture will generate increased value for shareholders whilst meeting each company's strategic objectives.

Lead corporate partner on this matter, Ian Williams, said: "We are very happy to have assisted Sojitz in taking this important initial step in developing its joint venture relationship with U&D and Endocoal in respect of the MDS Project and look forward to working with them on the implementation of the joint venture and development of the mine itself."

Ian was assisted by senior associate Richard Brockett. The environment team was led by partner Caroline Ammundsen, who was assisted by senior associate Melissa Bice.