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19 January 20223 minute read

DLA Piper advises on new lithium joint venture between EV Metals Group and ASX listed Zenith Minerals

Global law firm DLA Piper has advised EV Metals Group plc (EVM) on its joint venture with ASX listed Zenith Minerals (ASX:ZNC), enabling the parties to capitalise on the lithium potential of the Spilt Rocks and Waratah Well projects in Western Australia, as well as jointly identifying new lithium/EV-metal opportunities.

EVM will solely fund the completion of a feasibility study over 24 months and may earn a 60% interest in the lithium rights for the two initial 100% owned Zenith projects. Zenith will retain a 40% project share.

EVM is committed to becoming a leader in clean energy technology and battery chemicals. EVM aims to produce high purity chemicals and cathode active materials required in rechargeable lithium-ion batteries used in electric vehicles and renewable energy storage. EVM’s proposal to develop a battery chemicals complex in the Kingdom of Saudi Arabia has secured Saudi Government support because it will provide critical materials for the renewables transition and deliver on the Government’s Vision 2030.

DLA Piper’s team was led by Perth Finance & Projects partner Alex Jones, with special counsel Jo Steer. Corporate law and capital markets advice was provided by Perth M&A and ECM partner, James Nicholls.

Alex Jones said: “We are happy to continue our long-standing relationship with EVM and assist with this significant contribution to their future supply chain. EVM’s proposed battery minerals complex in Saudi is exciting and we look forward to working with EVM to deliver it.”