Umicore to Acquire Freeport’s Cobalt Refining and Cathode Precursor Operations

May 24, 2019

Cleary Gottlieb is representing Umicore in its acquisition of Freeport-McMoRan’s (Freeport) cobalt refining and cathode precursor operations in Kokkola, Finland.

The transaction was announced on May 23, 2019, and is expected to close at the end of 2019.

Prior to closing, Freeport’s cobalt fine powders, chemicals, catalysts, ceramics, and pigment activities located on the same site will be carved out from the cobalt refinery and the cathode precursors operations.

The Kokkola cobalt refinery is the largest cobalt refinery in Europe.