Allens has advised Ontario Teachers' Pension Plan Board (Ontario Teachers') on its acquisition of a portfolio of critical minerals royalties in Western Australia from RCF Management, Global Advanced Metals Wodgina and Global Advanced Metals Greenbushes.
The transaction provides Ontario Teachers' with exposure to a diversified portfolio of lithium, tin and tantalum, underpinned by the Greenbushes and Wodgina mines in Western Australia, both of which have a long track record of production.
As part of the acquisition, Ontario Teachers' will also obtain royalties over a pre‑feasibility stage development project and an exploration project. The royalty structures provide commodity‑linked cash flows with limited exposure to operating and capital costs.
'This transaction underscores the growing role of royalty structures as a capital‑efficient way for global institutional investors to gain exposure to critical minerals in tier‑one jurisdictions,' said lead partner and Head of Critical Minerals, Charles Ashton.
'We continue to see strong interest in assets that sit at the intersection of the energy transition, advanced manufacturing and digital technologies, with royalties offering a compelling balance of downside protection and long‑term upside,' said Managing Associate, Alex Ninkov.
Allens is a leading adviser on critical minerals M&A, having advising global investors, mining companies and financial sponsors on complex royalty, streaming and structured financing transactions across the resources sector. The firm advised Kinterra Capital on its successful off-market takeover bid for New World Resources, Sumitomo on its acquisition of an interest in the Speewah Fluorite Project, and Rio Tinto on its acquisition of Arcadium Lithium. Allens also recently advised Minerals 260 on one of the largest royalty financings ever completed for an Australia gold development, a $220 million strategic funding package to support development of the Bullabulling Gold Project.
