Pala Investments in its sale of Voisey’s Bay Cobalt Stream

On March 12, 2021, Anglo Pacific Group PLC announced the closing of its acquisition of a 70% net interest in the Voisey’s Bay cobalt stream for cash consideration of US$205 million at closing and further contingent consideration of up to US$27 million. Voisey’s Bay is an established nickel-cobalt-copper mine located in Newfoundland & Labrador, Canada, operated by Vale.

Further information can be found on ACCESSWIRE’s website.

Torys acted for Pala on both the corporate M&A and financing aspects of the transaction, which included a credit facility from Société Generale, ING Capital, Commonwealth Bank of Australia and Goldman Sachs.

Torys previously represented Pala when it acquired TSX-V listed Cobalt 27 Capital Corp in 2019, which included a package of cobalt assets including the Voisey’s Bay cobalt stream.

Pala is an investment company focused on the raw materials value chains that drive the global economy.