Firefinch partners with Chinese battery giant for US$194m investment
Gilbert + Tobin has advised on a joint venture for an investment into a lithium deposit in Mali worth US$194 million.
Firm: Gilbert + Tobin (Firefinch Limited)
To continue reading the rest of this article, please log in.
Create free account to get unlimited news articles and more!
Deal: G+T has advised Firefinch Limited on its incorporated joint venture with Chinese battery metals company Ganfeng regarding its Goulamina project in the West African nation of Mali.
Value: US$194 million
Area: Energy, corporate
Key players: The G+T team was led by energy and resources partner Michael Blakiston, with support from lawyer Amelia Arndt.
Deal significance: The deal will see Ganfeng provide funding of up to US$194 million in return for a 50 per cent stake in the Goulamina project and means that the Goulamina project is almost fully funded and is set to become the world’s next big lithium development.
Firefinch and Ganfeng have established an equal split joint venture for the project. G+T continues to advise Firefinch on the negotiations and drafting of the full form transaction documents.
Mr Blakiston commented: “It continues to be a privilege to be advising Dr Alistair Cowden and his team as they continue the fantastic transformation of Firefinch from a junior explorer firstly into a gold producer and as a result of this recently announced transaction, potentially a significant world lithium producer.
“Firefinch has focussed its endeavours in Mali and has shown great maturity in being able to work with the Malian government which has been in a period of transition.”