Democratic Republic of Congo's Economy
With 80 million hectares of arable land and over 1,100 minerals and precious metals, the Democratic Republic of Congo has the potential to become one of the richest countries on the African continent and a driver of African growth if it can overcome its political instability.
- Allan Reid advised major clients with regard to compliance and mineral issues on mines in Zambia, Zimbabwe, Niger, Mozambique, Chad and the DRC.
- David Pinnock advised the Keller Group (a major British based ground engineering company listed on the London Stock Exchange) in its R500 million acquisition of the geotechnical contracting business owned and operated by Esorfranki Construction in South Africa, Botswana, the DRC, Ghana, Lesotho, Mauritius, Mozambique, Namibia, Seychelles and Swaziland. Following the closing of the sale transaction, CDH advised on and implemented a BEE share scheme for the new operating company, Franki Geotechnical.
- Quintin Honey, David Pinnock and Johan Latsky advised Metorex Ltd (listed on the JSE but with its main mining operations outside South Africa, in the DRC and Zambia). Offers to acquire all of the issued shares of Metorex first by Brazilian company Vale and subsequently Chinese company Jinchuan. Advice included the disposal of Metorex's Sable mine in Zambia; and regulatory and government entity approvals in Zambia and the DRC. Value for the Vale offer was approximately R7.5 billion and for the Jinchuan offer, approximately R9.11 billion.