Umicore N.V.’s Acquisition Of Interest In Kokkola Cobalt Refinery


Paul, Weiss advised Lundin Mining Corporation in connection with the deal.

Freeport Cobalt, the Company’s joint venture with Freeport-McMoRan Inc. sold its cobalt refinery in Kokkola, Finland and related cobalt cathode precursor business to Umicore for cash consideration of approximately US$150 million, plus working capital at the time of close (the “Transaction”).

Lundin Mining received 30 percent of the proceeds of the Transaction. The joint venture will retain Freeport Cobalt’s fine powders, chemicals, catalyst, ceramics and pigments businesses.

The Paul, Weiss team included corporate partner Adam Givertz (Picture).

Involved fees earner: Adam Givertz – Paul Weiss Rifkind Wharton & Garrison;

Law Firms: Paul Weiss Rifkind Wharton & Garrison;

Clients: Lundin Mining Corporation;

Author: Ambrogio Visconti