Anglo Pacific Group plc completes US$205 million cobalt stream acquisition

On March 11, 2021, LSE- and TSX-listed Anglo Pacific Group plc (“APG”) completed the acquisition of a 70% net interest in a stream on cobalt production from the Voisey’s Bay mine in Canada from private equity sellers for cash consideration of approximately US$205 million at closing and further contingent consideration of up to US$27 million.  The acquisition of this cornerstone asset is the largest in APG’s history to date and marks the start of APG’s repositioning towards 21^st century commodities, becoming an increasingly battery metals focused royalty and streaming company.

Fasken advised APG in connection with this acquisition with a team which included Al Gourley (Lead), Jodi Katz (Lead), Chloe Gill (Corporate), Nancy Eastman (Corporate), Mitchell Thaw (Tax), Dev Singh (Banking), Daniel Conrad (Banking), Maurice Wong (Corporate), Vanessa McMinn (Corporate Finance), Huy Do (Competition), Alison Lacey (Project Development) and Alix Herber.