Our UK Mining team has advised Andrada Mining Limited on a three-stage earn-in agreement with Chile-based SQM, one of the world's largest lithium chemicals producers, to develop jointly the Lithium Ridge asset in Namibia.

The agreement could see SQM secure a 50% stake in Andrada's Lithium Ridge licence ML 133. SQM will pay $2 million upfront, followed by $20 million in exploration expenditure over three years for a 40% stake. An additional 10% would be earned by funding a definitive feasibility study up to an aggregate total investment of US$40 million.

The team advising Andrada Mining included Partner Charles Bond, assisted by Legal Director Sue Johnston.

Gowling WLG's Mining team is well-established with an extensive track record over many years advising mining companies on a variety of markets in relation to M&A, joint ventures and fundraises.