Firm: Clayton Utz
Deal: Tianqi Lithium Australia, a subsidiary of China based Tianqi Lithium Corporation, given the green light to build a lithium processing plant in Kwinana.
Value: $400 million
Area: Energy & Resources
Key Players: Brett Cohen headed up the Clayton Utz advisory team, assisted by special counsels Scott Girdler and Donna Charlesworth.
Deal significance: The Kwinana lithium processing plant is expected to create up to 500 jobs during its two-year construction and more than 115 jobs once the project is operational.
“Demand for lithium is increasing rapidly thanks to its growing use for renewable energy storage and electric car batteries,” said WA state development minister Bill Marmion.
“This is very positive news for growing the state's economy as we seek to take a greater role in processing our raw materials to produce higher value products.”
Marmion said while lithium mining and exporting isn’t new for WA, the project will introduce secondary processing into the local supply chain.
Clayton Utz advised Tianqi Lithium Australia on all aspects of the matter including land tenure and construction contracts.
The Kwinana plant received final regulatory approvals last month and construction is due start construction before the end of the year.
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