Gilbert + Tobin advises Mineral Resources Limited on the sale of a 60% interest in its Wodgina Lithium Project to Albemarle in return for US$820m cash and a 40% interest in two lithium hydroxide trains at Albemarle’s Kemerton Project near Bunbury, Western Australia, representing a total transaction value of US$1.3 billion.
Albemarle and Mineral Resources have formed a 60:40 joint venture to operate 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, G+T Energy + Resources partner Justin 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 multi-faceted 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.”
Justin Little and Corporate Advisory partner Justin Mannolini led the transaction team with support from senior associate Matthew Watkins along with lawyer Gabrielle Sumich. The team were assisted by specialists throughout the firm including partner Luke Woodward and lawyers Amelia McKellar and Richard L’Estrange for Competition, Consumer + Market Regulation matters in Australia and China, partner Muhunthan Kanagaratnam for tax advice and partner Amanda Hempel in relation to Real Estate + Projects matters.
G+T advised Mineral Resources alongside JunHe on Chinese anti-trust law.
About Gilbert + Tobin
Gilbert + Tobin is a leading Australian law firm, advising clients on their most significant corporate transactions, regulatory matters and disputes. We provide commercial and innovative legal solutions for ASX 100 leading companies, major infrastructure and services providers as well as government and public authorities across Australia and around the world.
Gilbert + Tobin’s Perth team are leading legal advisors to the energy and resources sectors – through the full lifecycle from junior explorers to multi-national, blue-chip corporates.
The Perth team includes some of Australia’s best corporate legal and litigation talent, with the depth and breadth of expertise to provide clear, decisive legal solutions to clients on all matters – routine and complex.
Gilbert + Tobin is a leader in innovation in the business of law, using new data-driven technologies to offer more efficient and cost-effective legal services. The firm is a recognised Employer of Choice for gender equality and a member of Pride in Diversity, Australia’s leading workplace program for inclusion of LGBTI employees.
Pro-bono work is a vital part of who we are and what we do – with a focus on assisting indigenous people and communities, people with disabilities and refugees. Our lawyers undertake work in a range of areas including discrimination, employment, housing and asylum matters.