ioneer Ltd Establishes Joint Venture with Sibanye-Stillwater to Develop Flagship Rhyolite Ridge Lithium-Boron Project
Vinson & Elkins advised ioneer Ltd (“ioneer”) in its agreement to establish a joint venture (the “Joint Venture”) with Sibanye Stillwater Limited (“Sibanye-Stillwater”) to develop the flagship Rhyolite Ridge Lithium-Boron Project located in Nevada, USA (the “Project”).
Under the terms of the agreement, Sibanye-Stillwater will contribute US$490 million for a 50% interest in the Joint Venture, with ioneer to maintain a 50% interest and retain operatorship. Rhyolite Ridge holds the largest known lithium and boron deposit in North America, estimated at 146.5 million metric tonnes and the Project is poised to become a globally significant, long-life, low-cost source of lithium and boron vital to a sustainable future.
The V&E corporate team was led by partners Kaam Sahely and Peter Marshall together with partner Creighton Smith, senior associate Nettie Downs and associate Michael Zarcaro, with assistance from chairman Mark Kelly, partners Eamon Nolan and Karen Smith, senior associate Zach Swartz and associates Sebastian Devora and Travis Ewing. Other key team members include partners David Peck and Jason McIntosh and associate Sarah Coe; partner Jeremy Marwell; partners Hill Wellford, Dave Johnson and Jeff Johnston, counsel Robert Ritchie, senior associates Brian Howard and Evan Miller and associates John Satira and Alison Harmes; and partner Larry Nettles.
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