Profile of Steven Local

Steven Local

Managing Associate

About Steven Local

Steven specialises in energy and resources project development and transactions, including acquisitions and divestments, joint ventures and project management arrangements, rail, port and power infrastructure development, and commodity sales and marketing. Steven has acted on projects in Australia, Africa, Mongolia, China and South America.

Steven's recent experience includes:

  • Genesee & Wyoming – Acquisition of Glencore Rail for $A1.14 billion, the concurrent issue of an equity stake in Genesee & Wyoming Australia to funds managed by Macquarie Infrastructure and Real Assets, and the negotiation of a 20-year rail haulage agreement with Glencore Coal.
  • Rio Tinto Coal – Divestments and restructuring of Rio Tinto's thermal coal assets, including US$2.45 billion sale of Coal & Allied to Yancoal, US$1 billion sale of interests in the Clermont mine to Glencore and Sumitomo, US$606 million sale of interests in the Bengalla joint venture to New Hope, US$224 million sale of the Mount Pleasant project to Mach Energy, $1.6 billion privatisation of Coal & Allied, and the restructure of Rio Tinto and Mitsubishi's interests in Coal & Allied.
  • Newcrest – Strategic alliance with PT Antam to undertake exploration for gold and copper deposits in several areas of Indonesia and pursue prospective projects through separate joint ventures.
  • Chugoku Electric Power Co – Acquisition by Chugoku of an interest in the Boggabri thermal coal mine, long-term coal sales contract and joint venture arrangements with Idemitsu.
  • Rio Tinto – Mongolian Oyu Tolgoi copper/gold project, including the negotiation of the underlying joint venture and investment agreements, and arrangements in relation to the management, project financing and development of the project.
  • Oyu Tolgoi – Power strategy, including importation of power from China to Mongolia to supply the Oyu Tolgoi project and the international tender for the development of an IPP power plant in Mongolia.
  • Rio Tinto – Strategic transactions with Rio Tinto's largest shareholder Chinalco, including an exploration joint venture for potential projects in China and Chinalco's US$1.35 billion acquisition of an interest in an iron ore project in Guinea.
  • Sumitomo – $435 million acquisition of 50% of the Isaac Plains Coal Mine from Aquila Resources.
  • Rio Tinto Coal and other resources clients – a number of long-term rail haulage agreements for coal and other minerals in New South Wales and Queensland.
  • Rio Tinto – US$1.6 billion divestment of its Corumbá iron ore mine in Brazil and its potash assets in Argentina and Canada and defence of BHP takeover bid.