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POSCO advised on US$280m acquisition of Argentinian lithium tenements
Korean-listed steel production company POSCO has been advised on its acquisition of lithium tenements from Australian public mining company Galaxy Resources Limited.
Jerome Doraisamy
Firm: Norton Rose Fulbright (POSCO); Ashurst (Galaxy Resources Limited).
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Deal: POSCO has acquired a package of Argentinian lithium tenements in the northern basin of the Salar del Hombre Muerto region of Argentina for a price of US$280 million.
Area: M&A
Value: US$280 million
Key players: The NRF team was jointly led by partners Adam Edelman and John Kim, in Perth and Vancouver respectively. The pair were assisted by partner David Hunter, associate Graeme Austin and lawyer Frances Hewitt.
The firm also worked closely with local counsel in Argentina, it noted.
Deal significance: “We are very proud of the quality of support and assistance we continue to provide POSCO through our global network,” said Mr Edelman.
“This is a strategically significant acquisition for POSCO that will enable it to expand its global lithium credentials.”
