Adviser to MinRes on acquisition of Bald Hill Mine

Role  / Corporate Adviser
Date  / November 2023

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Harvis Advisers acted as the exclusive adviser to Mineral Resources Limited (MinRes) on the acquisition of the Bald Hill Mine, a financially distressed but high-quality lithium operation.

This transaction was highly complex, involving the acquisition of a lithium mine that had been under external administration for approximately three years, following the last downturn in lithium prices. The administration had reached an impasse due to the failure of a foreign DOCA proponent to obtain FIRB approval, stalling the progression of ownership of this critical minerals project.

Leveraging its deep expertise in restructuring and distressed asset transactions, Harvis identified a unique path forward by securing the cooperation of the receivers and managers and successfully navigating competing interests.

MinRes' in-depth knowledge of the lithium sector, and strong operational capabilities, combined with Harvis' strategic guidance, allowed for the successful execution of this multifaceted transaction, which involved numerous stakeholders and complex moving parts.

This acquisition strengthens MinRes' position as a leading player in the lithium industry and adds a key strategic asset to their expanding Western Australian lithium portfolio.

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