Canadian miner First Quantum Minerals is selling all of its Congolese mines in a $1.25 billion deal that also resolves a three-year legal dispute between it, the company acquiring the mines, and the Democratic Republic of Congo.
The Vancouver-based company said Thursday that it will sell its assets to Eurasian Natural Resources Corp. (ENRC) in a deal expected to close by the end of February. ENRC, a London-based miner, is acquiring First Quantum’s stake in the Kolwezi Tailings project and other mines also located in the Congo’s Katanga Province, for an initial payment of $750 million and a deferred payment of $500 million over the next three years, according to the announcement.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
