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Mineral Resources sells interest for more than $1.88bn
G+T has assisted in the sale of 60 per cent of Mineral Resources’ interest.
Naomi Neilson
Source: gtlaw.com.au/people/justin-little
Firm: Gilbert + Tobin (Mineral Resources Limited)
Value: Total transaction value of more than $1.88 billion.
Area: Energy and resources.
Key players: Energy and resources partner Justin Little and corporate advisory partner Justin Mannolini led the transaction, with assistance from senior associate Matthew Watkins along with lawyer Gabrielle Sumich.
The team was assisted by specialists including partner Luke Woodward and lawyers Amelia McKellar and Richard L’Estrange for competition and regulation matters both in Australia and China. Partner Muhunthan Kanagaratnam assisted in tax advice and partner Amanda Hempel for real estate and projects matters.
Deal significance: In return for the interest, Mineral Resources will receive more than $1,190 million cash and a 40 per cent interest in two lithium hydroxide trains at the Albemarle’s Kemerton Project near Bunbury, Western Australia.
Albermale and Mineral Resources have formed a 60:40 joint venture to operate on the Wodgina Lithium Project and the lithium hydroxide trains at Kemerton. The parties have also entered into ancillary arrangements relating to marketing, mining services and plant operations, in support of the new joint venture.
Commenting on the deal, Mr Little said: “We are delighted to be advising our client Mineral Resources on this strategically important and innovative transaction.”
“G+T’s involvement in this transaction was multifaceted and we are pleased to be able to apply our M&A and project development expertise to successfully complete the transaction, notwithstanding challenging conditions in the lithium sector.”
Naomi Neilson
Naomi Neilson is a senior journalist with a focus on court reporting for Lawyers Weekly.
You can email Naomi at:
