Ogier Hong Kong advises CAD Fund Consortium on US$284 million acquisition…

‬‪The Hong Kong office recently acted as BVI advisers to a consortium consisting of Zijin Mining Group Co., Ltd (“Zijin”) and China-Africa Development Fund (“CADFund”) in connection with a US$284 million acquisition of Platmin Congo Limited, a BVI company undertaking copper mining activities in the Democratic Republic of Congo. 

Zijin is a large Chinese mining group focused on the exploration, development and production of gold and base metals. The Group is one of the largest gold producers in China and operates the Zijinshan Gold-Copper Mine, the largest open pit gold mine in China. Zijin is listed on the Hong Kong Stock Exchange (HKSE: 2899) with A-shares listed on the Shanghai Stock Exchange (SHSE: 601899). 

CADFund was established in June 2007 as part of the new initiatives announced by President Hu Jintao of China at a summit with African leaders to foster greater cooperation between China and Africa. CADFund is wholly owned by China Development Bank.  The deal, which is awaiting final approval from governmental authorities, is expected to close shortly.

The Ogier team worked alongside Norton Rose (Beijing and London offices) to represent the consortium and was lead by Nicholas Plowman with assistance from Nickolas Sam.