Global law firm Clifford Chance has advised UAE-based critical minerals and green energy group Titan Lithium on its proposed acquisition of 100% of Global Lithium Resources Limited (ASX: GL1), a WA-based lithium mining developer, for $1.15 per share, representing aggregate consideration of approximately A$330 million.
The proposed transaction, which remains subject to shareholder and regulatory approvals, reflects increasing international investment in Australia’s critical minerals sector and the important role Australian resources play in strengthening global critical minerals supply chains.The transaction also includes substantial project development finance from Titan Lithium that will enable Global Lithium Resources to continue developing the Manna lithium project, pending Titan Lithium’s acquisition of the company.
The proposed acquisition complements Titan Lithium’s development of a vertically integrated lithium strategy, combining ownership of high-quality lithium reserves with large-scale downstream processing.
Partner Liz Humphry said: “This proposed acquisition reflects growing UAE investment in Australia’s critical minerals sector, and the important role cross-border capital can play in developing resilient and diversified global supply chains, consistent with government policy. This transaction provides Titan with important feedstock as it continues to develop one of the region’s largest battery-grade lithium processing facilities.”
Partners Liz Humphry and Mark Currell led on the deal, working with counsel Armin Fazely, and senior associate Anthony Yelavich.
Partner Mark Gillgren and counsel Isabella Bogunovich led the financing workstream.
They were supported by counsel Jackie Legett, senior associates Tash Tourabaly, associates Siena Casgrain, Amy Pham, Clinton Wang and law graduates Max Farinazzo, Quin Lin and Georgia Walker.
Specialist advice was provided by partners Naomi Griffin, Clancy King and Elizabeth Richmond, counsel Rebecca Davie and senior associates Angel Fu, Jordan Jeffcoat and Penelope McCann.
This transaction further reinforces Clifford Chance’s leading role in the critical minerals sector, advising clients on investments, acquisitions, project development and strategic partnerships across the energy transition value chain.
It follows the firm’s recent work advising global investment firm Oaktree Capital Management on the sale of its investment in ASX-listed resources company EQ Resources Limited to Wonongarra, an investment vehicle wholly owned by Australian businessman and Fortescue founder and executive chairman Dr Andrew Forrest.
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