Clayton Utz has acted as Australian legal counsel to US-based lithium extractor Lilac Solutions on its strategic partnership with ASX-listed Lake Resources' flagship Kachi Project in Argentina. The transaction was announced to the market this week.
Perth-based Corporate partner Brett Cohen led the firm's team which worked alongside US firm Wilson Sonsini Goodrich & Rosati on the transaction. Other key Clayton Utz team members were special counsel Armin Fazely, and on the Taxation aspects, partner Peter Feros and special counsel Cameron Forbes.
The Kachi Project is located in Argentina's Catamarca Province at the southern end of what is known as the 'Lithium Triangle', a world-renowned province responsible for 40 per cent of global lithium production. Through its investment, Lilac Solutions will help Lake Resources to get the Kachi Project into production and realise its ambition of delivering the "world's cleanest lithium".
Lilac Solutions was named 'Early Stage Company of the Year' on the 2021 Global Cleantech 100 list, for being among "the most innovative and promising companies that will take us from climate chaos to transformation". It has developed and patented a new ion exchange lithium extraction technology that protects the environment while accelerating project development.
Commenting on the firm's role, Brett said: "This is an exciting time for participants in the lithium sector, which is experiencing huge strategic interest. Our team appreciated the opportunity to act as Australian legal advisers to Lilac Solutions, which is leading the way in terms of innovation in this sector."
In July this year, Brett co-led a Clayton Utz team in successfully achieving completion of a new globally focused lithium joint venture between China-based Tianqi Lithium Corporation and ASX-listed nickel and copper miner, IGO Limited - at A$1.9 billion, one of the year's biggest energy and resources deals in Australia.
