In the late-1990s, and into the 2000s, many industries, including the mining industry, have seen significant transaction activity by way of acquisitions, floats, joint ventures and major capital projects. The fundamental financial trends are two-fold. First and foremost, a high level of transaction activity within the industry and secondly, the recently introduced requirement for corporate governance standards, have placed increasing pressure on the directors of mining companies. This paper will deal with specifically corporate governance implications of any large capital investment transaction and the associated impact on the mining industry. To provide the framework for this paper, I have looked at a number of recent transactions as well as corporate governance recommendations from the ASX and the HIH Royal Commission.