Simmons & Simmons Advises Copperbelt Minerals Limited on Transfer of Major Mining Deposits in the Democratic Republic of Congo

Simmons & Simmons advised Copperbelt Minerals Limited (Copperbelt) on its negotiations with the Congolese state-owned company la Générale des Carrières et des Mines (Gécamines) on a settlement to put an amicable end to their partnership on the mining deposits of Deziwa and Ecaille C in the Democratic Republic of Congo (DRC).

Pursuant to this agreement, Copperbelt received compensation from its former partner Gécamines and Gécamines obtained the two permits from the joint venture company, which include one of the largest greenfield copper discoveries in the DRC for several decades.

Copperbelt was assisted by the Paris office of Simmons & Simmons. The team was led by partner Yves Baratte, assisted by Jan Swinnen, Sophie da Cunha and Sophie Claudia Gallizioli.

Commenting on the transaction, Corporate partner Yves Baratte said: "We started advising Copperbelt on the very early stages of the project in 2005, through to this successful agreement. This is another testimony of the depth of our expertise in African mining - especially in the Democratic Republic of Congo - in project development and in helping clients on difficult negotiations with States or state-owned companies"

Gecamines was advised by the Paris office of Orrick LLP with Pascal Agboyibor, Philippe Hameau and Nicholas George, partners, Christian Husson, of counsel, and Sydney Domoraud-Opéri, Talia Poleski, Joy Araman and Bob Bastos.

http://www.simmons-simmons.com/en/News/2013/02-Feb/Copperbelt-Minerals-…