48-1161: The Central African Mining and Exploration Company plc (CAMEC) was a mining company active in the Katanga Province of the Democratic Republic of the Congo (DRC) and in other parts of Africa. It was acquired by Eurasian Natural Resources Corporation in 2009. In September 2002 Andrew Groves reported a 6 to 7 million Rand had been spent to upgrade the Three Aloes mine . CAMEC listed on the London Stock Exchange's Alternative Investment Market in October 2002. It pursued an aggressive and successful program of acquiring and developing projects, finding little difficulty in gaining funding based on its strong track record. The company developed operations or undertook exploration in Mali (bauxite), Mozambique (coal),
96-520: A "multi-billion dollar copper and cobalt tailings reprocessing facility" that had been expropriated in 2009 by the DRC from Vancouver, Canada-based First Quantum Minerals through Dan Gertler 's newly formed British Virgin Island -based company, Highwinds , was the last of a series of ENRC of Congolese mining asset acquisitions in roughly an 11-month period. First Quantum Minerals had completed 75 per cent of
144-522: A 32.7% equity stake to Gertler's companies. The venture aimed to extract cobalt from Mukondo, to reopen Kakanda concentrator and to control the copper cobalt SX/EW facility at Luita . In February 2008 the two companies announced that the Mukondo Mountain operations had restarted. In July 2008 CAMEC said the Luita facility, due to be completed later that year, would be the largest of its kind in
192-701: A 70% indirect interest in Metalkol Sarl, owner of the Kolwezi copper tailings project. In 2010 ENRC paid $ 175 million for its majority stake in Camrose. On 28 December 2012, 99 percent of Eurasian Natural Resources Corp shareholders approved the US$ 550 million purchase of the remaining 49.5% per cent of Camrose Resources Limited still held by Dan Gertler 's Gibraltar-registered (Wild et al. 2013 page 68) Fleurette Properties Ltd. In February 2010 ENRC purchased
240-614: A 70% interest in the Metalkol Sarl, which in turn owned the exploitation licence for the Kolwezi tailings site (Law Expert 2 March 2012)." Camrose's other assets included a "64% stake in Canada listed Africo Resources which held a 75% interest in Kalukundi exploitation licence as well as 56% indirect interest in Comide Sprl, which held the exploitation licence for Mashitu, Pangalume and Kii tenements." The Kolwezi tailings project ,
288-809: A 90% interest in Chambishi Metals PLC, a copper and cobalt producer and smelter located in Zambia. On 4 April 2008 Eurasian Natural Resources Corporation PLC finalized the purchase, first signed on 4 December 2007, of the controlling interest in Serov Ferrochrome Producer (Serov SPA) in Sverdlovsk region, eastern Russia for US$ 210 million from various entities affiliated with Mr. P Chodiev, Mr. An Ibragimov and Mr. A Machkevitch, founding shareholders in ENRC. Sir David Cooksey ,
336-402: A deposit of pitchblende and other uranium minerals of a higher grade than had ever been found before anywhere in the world and higher than any found since were discovered at Shinkolobwe . The discovery was kept secret by UMHK. After World War I ended a factory was built at Olen ; the secrecy was lifted at the end of 1922 with the announcement of the production of the first gram of radium from
384-804: A fourth announced a leave of absence. These included the Head of Human Resources and the Company Secretary. On 23 April Mehmet Dalman, the chairman of ENRC, also resigned and next day the group confirmed that Gerhard Ammann, a non-executive director of ENRC and president of Bank Von Roll, a Swiss private bank, would replace Mr Dalman. The Serious Fraud Office launched a criminal investigation into ENRC's business practices in April 2013. ENRC annual report released on 30 April said that UK authorities are investigating whether ENRC breached Britain's rules for listed companies, specifically with acquisitions made in
432-676: A long term agreement under which CAMEC would deliver its entire annual production of cobalt in concentrate from Mukondo Mountain to Zhejiang Galico Cobalt & Nickel Materials of China. In February 2010 ENRC acquired a 90% interest in Chambishi Metals PLC, a smelting facility in Zambia, together with a 100% interest in Comit Resources FZE, a Dubai-based marketing and sales company that historically has handled Chambishi's copper and cobalt sales. In August 2010 company acquired 50.5% of Camrose Resources Limited ('Camrose'). Camrose held five high quality copper and cobalt mining permits in
480-656: A property in Mali with an inferred resource of 439 million tons. In July 2009 CAMEC said it was conducting a feasibility study at the Bokai platinum prospect in Zimbabwe, due to be completed by September. It expected to start production in 2012. In September 2009 the Eurasian Natural Resources Corporation (ENRC) of Kazakhstan made a £584-million cash offer for CAMEC. The chairperson Phillippe Edmonds and CEO Andrew Groves both resigned when
528-584: Is a "major supplier of manganese and ferromanganese concentrates to customers throughout Russia, Ukraine, Central Asia and China (ENRC 2013)." The ENRC is one of the largest electricity providers in Kazakhstan, accounting for approximately 16.3% of the country's recorded electricity production in 2011. The ENRC's assets in the Republic of Kazakhstan comprise Kazchrome , Zhairem GOK, SSGPO, Aluminium of Kazakhstan, Kazakhstan Aluminium Smelter (KAS) ENRC
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#1732797799715576-502: Is a lucrative copper- and cobalt-extractions projects mining older mines' tailings ponds, partly owned and operated by First Quantum Minerals , a Vancouver, British Columbia based mining and metals company, until its forced closure in September 2009 when the DRC government revoked its license and confiscated the holdings. First Quantum spent $ 750 million on acquiring and developing the property. First Quantum took out an action against
624-451: Is its Ferroalloys Division (ENRC 2013). ENRC is one of the world's largest ferrochrome producers (ENRC 2013). ENRC's Kazchrome [ de ] in the Republic of Kazakhstan, integrates four operating companies: Donskoy Ore Mining & Processing Plant, Aktobe Ferroalloys Plant, Aksu Ferroalloys Plant and Kazmarganets Mining Enterprise. ENRC's Zhairem GOK , one of the "largest manganese ore mining and processing plants" in Kazakhstan,
672-540: Is limited. Lubumbashi International Airport is located northeast of Lubumbashi. In April 2014, a train derailment killed 63 people. Eurasian Natural Resources Corporation Eurasian Natural Resources Corporation PLC ( ENRC ) was a public, Kazakhstan/Central African-focused, multinational leading diversified natural resources company headquartered in London, United Kingdom. It had activities in integrated mining, processing, energy, logistics and marketing. ENRC
720-448: Is one of the world's largest ferrochrome producers (ENRC 2013). ENRC's Kazchrome in the Republic of Kazakhstan, integrates four operating companies: Donskoy Ore Mining & Processing Plant, Aktobe Ferroalloys Plant, Aksu Ferroalloys Plant and Kazmarganets Mining Enterprise. Contributing significantly to Kazakhstan's GDP, one of the world's significant exporters of iron ore; the world's ninth largest producer of traded alumina; and one of
768-750: The Democratic Republic of Congo , the development projects of coal in Mozambique , bauxite in Mali , platinum in Zimbabwe , and fluorspar in South Africa, as well as trucking and logistics business across the African continent. ENRC had made a £584-million cash offer in September 2008 (Webb 18 September 2009). The chairperson Phillippe Edmonds and CEO Andrew Groves both resigned when
816-564: The secession of Katanga province from the Congo. This was supported by Belgium but opposed by the Congolese Prime Minister Patrice Lumumba . This led to the assassination of Lumumba and the Katanga Crisis (or "Congo Crisis"), which lasted from 1960 to 1965. The breakaway State of Katanga existed from 1960 to 1963, then was reintegrated. In 2005, the new constitution specified that Katanga
864-519: The Canadian copper company Katanga Mining in exchange for shares in the combined company. At the time of the offer, CAMEC already owned 22% of Katanga. However, the deal encountered difficulties as Billy Rautenbach was arrested and deported to Zimbabwe. The DRC deputy mines minister, Victor Kasongo, stated that way the C19 license had been obtained was fraudulent. CAMEC strongly disputed this, and stated
912-533: The Congo. Copper mining in Katanga dates back over 1,000 years, and mines in the region were producing standard-sized ingots of copper for international transport by the end of the 10th century CE. In the 1890s, the province was beleaguered from the south by Cecil Rhodes ' Northern Rhodesia , and from the north by the Belgian Congo , the personal possession of King Leopold II of Belgium . Msiri ,
960-572: The DRC (copper and cobalt), South Africa (fluorspar) and Zimbabwe. Initially, the Zimbabwean businessman Billy Rautenbach controlled Boss Mining Sprl , which owned 50% of the Mukondo resource. The provenance of Rautenbach's claims to Mukondo were the subject of considerable controversy, as he was appointed head of the Congolese state-owned Gécamines at the same time Zimbabwe was supporting
1008-577: The DRC government in the International Chamber of Commerce Court of Arbitration. Fasken Martineau, a leading international business law and litigation firm recovered an almost unprecedented US$ 1.25B in the dispute between First Quantum Minerals and the DRC. As part of the settlement Eurasian Natural Resources Corporation (ENRC) purchased First Quantum's residual claims and assets in the DRC. In August 2010 ENRC acquired 50.5% of Camrose Resources Limited ('Camrose'), which at that time held
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#17327977997151056-614: The Democratic Republic of Congo (DRC). They include the Kolwezi tailings project , which the DRC government had confiscated from First Quantum Minerals (FQM). FQM had spent C$ 750 million developing the Kolwezi assets. ENRC paid $ 175 million for its majority stake in Camrose. In September 2010 ENRC acquired the outstanding 50% interest in Bahia Minerals BV and in October 2010 – 100% of Mineração Minas Bahia SA (MIBA) and 51% of Mineração Peixe Bravo SA (MPB). In March 2013 ENRC
1104-466: The Democratic Republic of Congo and a 2012 sale of railway line repair company Zhol Zhondeushi to a company connected to the family of one of the miner's co-founders. In November 2013 ENRC de-listed from the LSE after the group's founders gained acceptances from 96.7 percent of shareholders for their offer - of $ 2.65 in cash and 0.23 of a Kazakhmys share for each one in ENRC - to acquire the company along with
1152-666: The Kazakh government. In February 2014, it was reported that the firm would have to sell its international assets, including its lucrative copper mines in the Democratic Republic of Congo , after the company's founders came under increased pressure to repay the large loan they had taken out to privatise ENRC. ENRC operates in Kazakhstan, China, Russia, Brazil and Africa (the Democratic Republic of Congo, Zambia, Mozambique and South Africa). The group incorporates six Divisions (ENRC 2013): Ferroalloys, Iron Ore, Alumina and Aluminium, Energy, Other Non-ferrous, Logistics ENRC's largest division
1200-665: The King of Katanga, (no such title exist, Msiri is a title for local authority in area controlled by Kazembe) held out against both, but eventually Katanga was subsumed by the Belgian Congo. After 1900, the Societe Generale de Belgique practically controlled all of the mining in the province through Union Minière du Haut Katanga (UMHK). This included uranium , radium , copper, cobalt , zinc , cadmium , germanium , manganese , silver , gold , and tin . In 1915,
1248-515: The Mukondo project. In November 2007 CAMEC and Prairie International, the owner of Tremalt , decided to combine their Mukondo assets into a new holding company operated as a joint venture. Billy Rautenbach would be excluded from ownership in the new company due to the hostile relations that had developed between him and the DRC government. The new ownership structure consisted of the assets owned 70% by CAMEC, and 30% by Gecamines , with CAMEC issuing
1296-672: The Non-Executive Chairman of ENRC noted this was ENRC's first transaction outside of Kazakhstan. The purchase agreement (4 December 2007) gives ENRC the economic benefit from all dividends and distributions made after 4 December 2007. The acquisition will provide a strong platform for ENRC in Russia. The purchase provided vertical integration with companies that ENRC operates: Serov Ferrochrome Factory , Saranovskaya Mine Rudnaya and Serov Metalconcentrate Works . Dr. Johannes Sittard , Chief Executive Officer of ENRC, described how
1344-580: The assets of former FTSE-100 group, ENRC PLC, which it acquired in November 2013. The company was founded by circle of oligarchs in Kazakhstan known as the "Trio" in 1994. The Trio consisted of Alijan Ibragimov , Alexander Mashkevitch and Patokh Chodiev , all active in the mining, oil and gas, and banking sectors in Kazakhstan. The assets of the company were acquired as part of the privatization process in Kazakhstan. The company in its present form
1392-655: The construction and the lucrative facility was almost ready to be operational when it was seized by the government and handed to This led to First Quantum Minerals v Highwinds and others, a case concerning the expropriation of mining licences in the Democratic Republic of Congo. DRC passed the concession to a new joint venture Metalkol Sarl, encompassing state-owned Gecamines (30%) and Dan Gertler 's newly formed British Virgin Island-based company, Highwinds (70%). Camrose Resources Limited ('Camrose') "owned British Virgin Island-based new company, Highwind Group which had
1440-479: The deal was closed in November 2009. Katanga Province Katanga was one of the four large provinces created in the Belgian Congo in 1914. It was one of the eleven provinces of the Democratic Republic of the Congo between 1966 and 2015, when it was split into the Tanganyika , Haut-Lomami , Lualaba , and Haut-Katanga provinces. Between 1971 and 1997 (during the rule of Mobutu Sese Seko when Congo
1488-561: The deal was closed in November 2009. CAMEC's Mukondo Mine may be the richest cobalt reserve in the world. Copper from Mukondo is refined at the Luita plant, with planned capacity of 100,000 tonnes per year of copper cathode. In July 2009 CAMEC announced a long term agreement under which CAMEC would deliver its entire annual production of cobalt in concentrate from Mukondo Mountain to Zhejiang Galico Cobalt & Nickel Materials of China. ENRC's acquisition 50.5% of Kolwezi Mine Tailings (KWT)
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1536-428: The development projects of coal in Mozambique , bauxite in Mali , platinum in Zimbabwe , and fluorspar in South Africa, as well as trucking and logistics business across the African continent. CAMEC's Mukondo Mine may be the richest cobalt reserve in the world. Copper from Mukondo is refined at the Luita plant, with planned capacity of 100,000 tonnes per year of copper cathode. In July 2009 CAMEC announced
1584-498: The economy of Katanga province. Cobalt mining by individual contractors is also prevalent. A number of reasons have been advanced for the failure of the vast mineral wealth of the province to increase the overall standard of living . The local provincial budget was US$ 440 million in 2011. Lubumbashi , the mining capital of the Democratic Republic of Congo, is a hub for many of the country's biggest mining companies. The Democratic Republic of Congo produces "more than 3 percent of
1632-635: The embattled DRC government. In a February 2006 deal, Rautenbach gained about 17% of the CAMEC shares when CAMEC bought an 80% share in Boss. Around this time, the recently re-elected Congolese administration had announced a review of all existing mining contracts, due to widespread concerns about irregularities of mineral concessions made by officials during and in the aftermath of the Second Congo War . In July 2007, CAMEC said it planned to acquire of
1680-466: The grounds of the French School, Lycée Français Blaise Pascal, which suspended operations in 1991 with a new French School starting in 2009. Katanga province has the highest rate of infant mortality in the world, with 184 of 1000 babies born expected to die before the age of five. The Congo Railway provides Katanga Province with limited railway service centered on Lubumbashi . Reliability
1728-426: The largest electricity providers in Kazakhstan. ENRC is one of Kazakhstan's largest companies, accounting for approximately 3% of Kazakhstan's GDP in 2009. ENRC currently employs over 70,000 people, of which 65,000 are located in Kazakhstan. In December 2009 ENRC acquired 95.40% of the shares of Central African Mining Exploration Company (CAMEC) CAMEC's operations incorporate the assets of copper and cobalt in
1776-551: The move was designed to destabilize its bid for Katanga. CAMEC withdrew the offer in September 2007, citing uncertainty due to a review of mining licenses being conducted by the DRC government. Despite statements from DRC attorney general Tshimanga Mukeba that certain CAMEC mining rights were annulled, in October 2007 CAMEC continued to argue that they remained valid. In June 2007, Dan Gertler purchased Prairie International , which owned 100% of Tremalt , which owned 80% of Kababankola Mining Company Sprl which owned other 50% stake in
1824-577: The pitchblende. By the start of World War II , the mining companies "constituted a state within the Belgian Congo ". The Shinkolobwe mine near Jadotville (now Likasi ) was at the centre of the Manhattan Project . In 1960, after the Democratic Republic of the Congo (then called Republic of the Congo) gained independence from Belgium, the UMHK, Moise Tshombe and Godefroid Munongo supported
1872-674: The purchase of Serov gave ENRC an asset base and strong platform in Russia. In April 2008 the Founder Shareholders of Eurasian Natural Resources Corporation Group "ultimately indirectly owned equally" Industrial Metals Technology Limited , Chesswood Holdings Limited , Blackmore Holdings Limited , Prentice Holdings Limited , Cretown Corporate Advisory BV , International Mineral Resources BV ('IMR') Serov Ferrochrome Producer (Serov SPA). Mr. P Chodiev, Mr. An Ibragimov and Mr. A Machkevitch were Founder Shareholders of Eurasian Natural Resources Corporation Group. Johannes Sittard ,
1920-590: The world. The target was to produce 100,000 tonnes per year of copper cathode. In July 2009 CAMEC announced a long-term agreement under which CAMEC would deliver its entire annual production of cobalt in concentrate from Mukondo Mountain to Zhejiang Galico Cobalt & Nickel Materials of China. CAMEC had a stake in the Copper Resources Corporation but it was "disenfranchised", giving Metorex of South Africa an effective economic interest of 99.99%. In May 2009 CAMEC said it had found bauxite on
1968-400: The world’s copper and half its cobalt , most of which comes from Katanga". Major mining concessions include Tilwezembe and Kalukundi . The province bordered Angola and formed the entire Congolese border with Zambia. It also bordered Tanzania – although on Lake Tanganyika rather than on land. Katanga has a wet and dry season. Rainfall is about 1,200 mm (49 in). The province
Central African Mining and Exploration Company - Misplaced Pages Continue
2016-476: Was divided in 2015 into five successor provinces, based on the districts of Katanga at that time: The University of Lubumbashi , located in the northern part of Lubumbashi city, is the largest university in the province and one of the largest in the country. TESOL, the English Language School of Lubumbashi, is a secondary school that serves the expatriate community. It was founded in 1987 on
2064-707: Was established in 2006 as part of a re-organisation to consolidate a series of businesses into one group. The company floated around 18% of its equity on the London Stock Exchange in December 2007. In December 2009 the Company completed acquisition of the Central African Mining Exploration Company (CAMEC). CAMEC's operations incorporate the assets of copper and cobalt in the Democratic Republic of Congo ,
2112-514: Was forced to write down a US$ 1.5bn (£1bn) loss due largely to an "onerous" locked in contract with the Russian aluminium company, Rusal with whom they must provide aluminium at what is now below market price (Telegraph 2013). On 21 April 2013, The Sunday Times revealed that three founders, Alexander Mashkevitch, Patokh Chodiev and Alijan Ibragimov, were behind a possible takeover bid for ENRC. Following this news, three senior executives resigned, and
2160-617: Was formed in 1994, listed on the London Stock Exchange in 2006, and delisted after a near six-year spell in November 2013. A secondary listing and subsequent de-listing also took place on the Kazakhstan Stock Exchange . ENRC is now a fully owned subsidiary of the Eurasian Resources Group (ERG), a private natural resources company headquartered in Luxembourg . This private company incorporates
2208-481: Was known as Zaire ), its official name was Shaba Province . Katanga's area encompassed 497,000 square kilometres (192,000 sq mi). Farming and ranching are carried out on the Katanga Plateau . The eastern part of the province is a rich mining region which supplies cobalt , copper , tin , radium , uranium , and diamonds . The region's former capital, Lubumbashi , is the second-largest city in
2256-553: Was the Chief Executive Officer of ENRC and Sir David Cooksey was the Non-Executive Chairman of ENRC. ENRC's senior management team consisted of: Upon the acquisition by ERG, many of the previous senior management did not transfer to the new group, left their positions or were replaced in a new structure. ENRC is now owned fully by ERG ( Eurasian Resources Group ), a private company headquartered in Luxembourg , Grand Duchy of Luxembourg . Alexander Machkevitch
2304-417: Was to be split up into separately administered provinces. Militias such as Mai Mai Kata Katanga led by Gédéon Kyungu Mutanga fought for Katanga to secede, and his group briefly took over the provincial capital Lubumbashi in 2013. In 2015, Katanga Province was split into the constitutional provinces of Tanganyika , Haut-Lomami , Lualaba , and Haut-Katanga . Copper mining is an important part of
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