Allens has advised Liontown Resources on its A$463 million capital raise, foundation offtake agreements with LG Energy Solution, Tesla and Ford, and the establishment of a A$300 million funding facility to underpin development of the Kathleen Valley Lithium Project in Western Australia.
With the execution of the third offtake agreement and funding facility with Ford, the Liontown Board made the Final Investment Decision to proceed to develop the project.
‘This is a significant milestone for Liontown and we are very pleased to have been able to help the company reach this point in the development of the Kathleen Valley Lithium Project. We look forward to working with the Liontown team on the next phase of development of the project and on its emergence as a tier-1 battery minerals producer,’ said Partner Bryn Hardcastle.
‘A transaction of this type is never the work of one individual or party. It’s a collective effort and having high quality advisers providing the very best of advice is the key. We got that with team Allens,’ said Managing Director and CEO Tony Ottaviano.
Liontown’s total offtake commitments mean approximately 90% of Kathleen Valley’s production capacity is now covered by long-term agreements with high-quality customers.