Ashurst has advised Karara Mining Limited (Karara) on its US$130 million facility agreement provided by financier Bank of China Limited, Perth branch (BOC).

Karara is a joint venture between the WA-based Gindalbie Metals Limited and Ansteel, one of China's largest steel makers and iron ore miners. The Karara iron ore project is the first Western Australian magnetite project to reach commercial production and includes processing, rail and port facilities. The US$130 million term loan facility will assist to complete the ramp-up of the project.

The Ashurst team included lead partner Gaelan Cooney and lawyer Beelee Seah.