MinterEllison acted for NYSE-listed Albemarle Corporation in relation to its US$1.3bn acquisition of a 60% interest in Mineral Resource Limited's Wodgina Lithium Project in Western Australia, sale of a 40% interest in part of the Kemerton lithium hydroxide facility and formation of the MARBL Lithium joint venture with Mineral Resources. The 60-40 joint venture formed between Albemarle and Mineral Resources will involve the operation of the Wodgina lithium mine and Kemerton hydroxide production facilities. Albemarle will be responsible for the marketing and sale of lithium from the joint venture. In addition to the marketing arrangements, Albemarle and Mineral Resources entered into services arrangements to support the joint venture relating to mining operations, camp operations, plant operations and intellectual property.

One of the largest recent mining deals in Australia, the purchase price of $US1.3bn consists of US$820 million in cash together with the transfer of a 40% interest in the two lithium hydroxide processing modules that Albemarle has under construction at Kemerton in Western Australia, valued at US$480 million.

In addition to advising Albemarle on all aspects of the transaction, MinterEllison has been advising Albemarle on the development of the lithium hydroxide facilities which formed part of the deal.

The deal team was led by Simon Scott, Partner and the firm's Energy & Resources Industry Lead, who said: "This deal is one of the most significant recent transactions in the Australian mining sector and will assist in supporting the world's progress towards expanded battery usage across the energy system."

The MinterEllison team supporting Simon Scott included senior associate Duncan Lomas and lawyer Alex Other-Gee as well as partners Jordan Phillips, Julie Whitehead, Bryn Davis, Craig Silverwood, Nada Raphael and Adrian Varrasso.