Clayton Utz has advised Wyloo Metals, a company of Tattarang, one of Australia's largest private companies, on its entry into an agreement with IGO Limited (ASX: IGO) to jointly evaluate opportunities for nickel downstream processing in Australia. The agreement was announced to the market today.
Perth based Corporate partners Brett Cohen and Mark Paganin are leading the firm's team working alongside Wyloo Metals' team, with key support from special counsels Armin Fazely and Stephen Neale, and lawyer William Davies.
The first stage of the agreement involves a study that is expected to take approximately two years and funded 70:30 by IGO and Wyloo Metals. Subject to the parties making a final investment decision, the parties would then form a 70:30 joint venture to construct and operate a nickel downstream processing facility. As part of the arrangements, Wyloo Metals' subsidiary has undertaken to vote its 9.8% interest in Western Areas Limited (ASX: WSA) in support of the scheme of arrangement between IGO and Western Areas (subject to certain qualifications). The scheme of arrangement is expected to be completed by early May 2022.
