EV Metals has embarked on a new joint venture with Zenith Minerals to capitalise on a number of existing and future lithium projects.
Firm: DLA Piper (EV Metals Group).
Deal: DLA Piper has advised EV Metals on their joint venture with Zenith Minerals, enabling them to capitalise on the Split Rocks and Waratah Well lithium projects.
Key players: The DLA Piper team was led by Perth finance and projects partner Alex Jones, with special council Jo Steer. Corporate law and capital markets advice was provided by Perth M&A and ECM partner James Nicholls.
Deal significance: As part of the deal, EVM will solely fund the completion of a feasibility study over 24 months and may earn 60 per cent interest in the lithium rights for the two initial 100 per cent-owned Zenith projects. Zenith will retain a 40 per cent project share.
Mr Jones commented: “We are happy to continue our long-standing relationship with EVM and assist with this significant contribution to their future supply chain. EVM’s proposed battery minerals complex in Saudi is exciting and we look forward to working with EVM to deliver it.”