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King & Wood Mallesons has advised UK-headquartered Cornish Lithium on an acquisition of an integral licence from ASX-listed company, Lepidico Ltd.
Firm: King & Wood Mallesons (Cornish Lithium).
Value: $4 million.
Area: Intellectual property, technology.
Key players: The KWM team advising Cornish Lithium was led by partners Heath Lewis and Scott Bouvier and supported by senior associate Mark Joss.
Deal significance: The licensing acquisition brings Cornish Lithium a step closer to developing its lithium prospects in Cornwall, UK.
“The company believes that this work will accelerate UK production of battery-quality lithium chemicals for the UK automotive and battery industries,” a statement from KWM explained.
“Cornish Lithium believes that the licence to Lepidico’s L-max® and LOH-max® technologies will allow development of the low-carbon extraction of lithium from zinnwaldite and polylithionite mica ores.
“Work so far has indicated the potential of this technology to produce battery-grade lithium in Cornwall without the need for further refining, offering a complete on-site solution.”
Commenting further on the deal, Mr Lewis said: “The dynamics of the lithium market for emerging producers – global supply and demand, geopolitics and the investor and regulatory scrutiny they bring – mean each deal is truly unique.”
“The potential unlocking of mica as a source of lithium makes this transaction rewarding to be a part of.”
