MOFM assists Tsingshan in $375m Eramet deal
Marval O’Farrell Mairal has counselled Eternal Tsingshan Group on its entry as a shareholder in an Eramet lithium project
Marval O’Farrell Mairal has assisted the Chinese steel group Eternal Tsingshan Group Co., Ltd. in its agreement with Eramet to restart construction of its lithium plant in Argentina.
This transaction, closed on 8 November, had an initial investment by Tsingshan estimated at $375 million US dollars.
Construction of the plant, with an annual production of 24,000 tonnes of lithium, will start during the first quarter of 2022 with commissioning scheduled for early 2024. Eramet will control the project, with a 50.1% stake, and retain responsibility for operational management; its partner Tsingshan will finance the construction of the plant in exchange for a 49.9% stake in the project.
Eramet holds perpetual mining rights to a major lithium concession, in the form of brine, located in the province of Salta in Argentina. The project involves extracting brine from the salar and processing it into lithium carbonate, which is the base compound for the energy storage industry.
MOFM’s team was led by partner Leonardo G. Rodríguez (pictured left), with the support of partner Macarena García Mirri (pictured right) and associates María Mercedes Rudolph, Agustina Dellacasa, Victoria Suárez Pino and María Soledad Noodt Molins.
