ENRC Settles Congo Mine Dispute With $1.25B Deal

Law360, New York (January 5, 2012, 1:34 PM EST) -- Eurasian Natural Resources Corp. PLC will buy First Quantum Minerals Ltd.'s interest in the unfinished Kolwezi Tailings copper mining project in the Democratic Republic of Congo for $1.25 billion as part of an agreement to settle an ownership dispute that was expected to go to trial, ENRC said Thursday.

The transaction will allow Kazakhstan-based ENRC to complete development of the Kolwezi project, which First Quantum had initiated before the Congolese government revoked its mining license in 2009 and sold it to a private investor. The investor...
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