McCullough Robertson has successfully advised Australian silica sand and mineral producer, Diatreme Resources Limited (Diatreme), on the all scrip off-market takeover of Metallica Minerals Limited (Metallica), creating Australia’s biggest silica sand mining entity.

Diatreme is an emerging silica sands producer with significant exploration permits in Northern Queensland for silica sand. The combination of Diatreme’s existing projects in the region, with Metallica’s neighbouring project, creates a larger resource base, aligning with Diatreme’s long-term strategy to advance a portfolio of silica assets with global export optionality.

In early 2024, Diatreme, assisted by McCullough Robertson, launched an off-market takeover bid, acquiring 90% of the shares in Metallica in late July, with compulsory acquisition and 100% ownership now complete. Our Corporate M&A team, led by Partner, Aaron Dahl, supported Diatreme with the takeover, from the initial bid, negotiations, a takeovers panel proceeding and throughout the compulsory acquisition process.

We have proudly supported Diatreme since 2021, including in relation to native title and approvals for its Galalar and Northern Silica Sand Projects, and its investment and asset-level joint venture with Sibelco.