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11 Dec 2020

Media Release: Clayton Utz acted on A$1.9 billion Tianqi Lithium joint venture with IGO Limited

Perth, 11 December 2020: Clayton Utz has acted for China-based Tianqi Lithium Corporation (Tianqi) on its entry into agreements to create a global lithium joint venture with ASX-listed nickel and gold miner IGO Limited - one of the largest energy and resources deals in Australia year to date, valued at A$1.9 billion.

Announced to the market on 9 December, upon completion occurring IGO Limited will acquire a 49% non-controlling interest in Tianqi Lithium Energy Australia Pty Ltd (Lithium Holdco) - indirectly acquiring stakes in the Greenbushes Lithium Mining and Processing Operation (24.99%) and Tianqi's Kwinana Lithium Hydroxide Plant (49%), both located in Western Australia.

Lithium Holdco will be the exclusive vehicle for the joint venture's future lithium related investments outside of China.

Clayton Utz Corporate partners Brett Cohen and Liz Humphry led the firm's deal team, assisted by special counsel Scott Girdler, senior associate Armin Fazely and lawyer Sam Pullin.

Commenting on Clayton Utz's involvement on the deal, Brett said:

We are extremely pleased to have had the opportunity to work with our long-standing client Tianqi Lithium Corporation on this agreement to invest into its world-class Australian lithium operations.

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Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.