HFW advises Norton Gold Fields on A$166.5 million sale of one of Australia’s largest undeveloped gold mines

Global sector-focused law firm HFW has advised Norton Gold Fields Pty Ltd on the A$166.5 million sale of the Bullabulling Gold Project (“Bullabulling Project”) to Minerals 260.

Norton is wholly owned by Zijin Mining Group Co., Ltd, which is a global leading gold and copper producer.

The sale, which completed on 3 April 2025, saw Mineral 260 acquire 100% of the Bullabulling Project for A$156.5 million in cash consideration plus A$10 million of Minerals 260 shares.

Bullabulling, located approximately 25km south-west of Coolgardie, Western Australia, is one of Australia’s largest undeveloped gold mines, with a 2.3 million-ounce mineral resource estimate.

In relation to the transaction, Managing Director Luke McFadyen of Minerals 260 said:

“Norton has done an excellent job advancing the Bullabulling Project over the past decade and Minerals 260 now has strong foundations to continue its development into production.”

The HFW team was led by Corporate and Commercial partner Bryn Davis, assisted by legal directors Lili Pan and Tighe Whelan, senior associates Kayla Giudicatti and Loren Harper, registered foreign lawyer Albert Cheung, associate Peter Hiotis, and legal assistant Kirsten Barlow.  

Bryn Davis commented: “It was a pleasure to work with the team at Norton, and we congratulate them on the successful close of this transformative sale.”