MCRM assists Uranium One in joint venture with Alpha Lithium for $30m

Mitrani, Caballero & Ruiz Moreno has counselled Uranium One on its $30 million investment with Alpha Lithium Corporation for Proyecto Tlillar

 Mitrani, Caballero & Ruiz Moreno, together with the Moscow office of Freshfields Bruckhaus Deringer LLP, has assisted Uranium One Holding N.V. in its joint venture with Alpha Lithium Corporation to develop the Project Tolillar, a 27,500-hectare lithium deposit located in the province of Salta, Argentina.

This transaction, signed on 29 November, involved an investment by Uranium One of $30 million US dollars in exchange for a 15% stake in the Alpha One Lithium joint venture, which will control the Tolillar Project. In addition, upon completion of the feasibility study, Uranium One will have the option to acquire an additional 35% of Alpha One for an investment of $185 million.

The definitive agreements are subject to customary closing conditions, including approval by the TSX Venture Exchange. Closing of the transaction is expected to occur on January 31, 2022.

Alpha Lithium was advised by Miller Thomson LLP, Argañaraz & Asociados and Beretta Godoy.

Uranium One is an international group of companies, part of TENEX (a subsidiary of ROSATOM), and one of the world’s largest uranium producers, with a diverse portfolio of assets around the world, including Kazakhstan, Tanzania and Namibia.

President of Uranium One, Andrey Shutov, commented on the deal: “In alignment with our stated strategy of securing non-uranium mineral resources, Uranium One is very excited to work with the famous Alpha Lithium team to advance the Tolillar Project, located within the renowned Lithium Triangle, the world’s most prolific lithium region. This partnership agreement represents a scaled approach to expanding Uranium One’s lithium production, while allowing Uranium One and Alpha Lithium to collaborate on the development of Tolillar and implement efficient extraction technologies.”

Miller Thomson LLP’s team was composed of lawyers Brian Fast, Alexander Lalka and Gosia Piasecka.

Argañaraz & Asociados counted with the participation of Rafael Argañaraz.

Beretta Godoy’s team consisted of Tomás Balzano and Juan Sonoda.

Freshfields Bruckhaus Deringer LLP’s team included Nikolay Seliakov, Dmitry Surikov, Dmitry Sheludyaev and Ekaterina Chepurnaya.

MCRM’s team was led by partners Matías Olcese (pictured top left), Julio Martínez (pictured top right), María Laura Lede Pizzurno (pictured middle left), Corina Laudato (pictured middle right) and Aixa Sureda (pictured bottom left), together with senior consultant María Paula Terrel (pictured bottom right), and associates Evangelina González Soldo and Luciana Casagrande.