Pillsbury advised leading private investment firm, Cerberus Capital Management, L.P., in a unique rare metals transaction—investing into Torngat Metals Ltd., a rare earth oxides producer.

In an effort to proactively transition to electrification and a low carbon economy, Torngat’s most up-and-coming project will mine rare earths at Northern Québec’s Strange Lake, which is a North American hub for valuable precious metals.

Notably, the Strange Lake project is viewed as an opportunity to strengthen the partnership between the U.S. and Canada—advancing shared economic and environmental priorities for all of North America.

“Our Cerberus Supply Chain and Strategic Opportunities team is intently focused on strengthening the critical supply chains of the United States and its allies, especially Canada,” said Cerberus Co-CEO Frank Bruno. “This rare earth project will help accelerate the ongoing transition to electrification, while supporting national security, sustainability, and economic interests in North America.”

The Pillsbury deal team included Energy partner William Fork, Finance counsel Shellka Arora-Cox and associate Olivia Lugar.

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