Dacheng Attorney Advises China Mega on South-American Gold Mine Acquisition

In July 2011, Dacheng senior partner Jiang Rongqing began to act as general counsel for China Mega Group (“China Mega”) on its acquisition of South America’s Saracreek gold mine. Mr. Jiang was responsible for such matters as due diligence investigation, legal risk analysis, deal structure design, negotiation, contract signing, delivery and restructuring. Travelling to and fro between China and South America, Mr. Jiang managed to produce a deal structure conducive to bilateral tax and investment protection and accessible for financing and listing, and coordinate agencies in Hong Kong, Cayman and the gold mine host country to fix tax-related matters and incorporation. The project kept Mr. Jiang in the air for over 120 hours during which more than 100,000 kilometers was covered.
 
To date, China Mega has completed the acquisition of Saracreek gold mine and the exploitation, prospecting and construction work have begun in an orderly manner. The company has now retained Mr. Jiang as its general outside counsel.
 
The Saracreek gold mine, covering an area of 225 square kilometers, is a world-class mine whose potential economic value may well exceed $30bn.