Our client, CoreX Resources B.V. (CoreX), successfully completed the process of acquiring the majority shares of Compagnie Minière Du Bafing SA (CMB), a company established in Côte d'Ivoire, by the end of 2024.
Erdem & Erdem Law Office provided legal assistance to CoreX in various aspects of the transaction, including the negotiation and drafting of the share transfer agreement and related contracts (offtake agreement, receivables assignment agreements, and shareholders' agreements), structuring the project financing, and negotiating the loan agreements.
CMB is an Ivorian nickel company, operating the largest DSO (Direct Shipping Ore) nickel project on the African continent. CMB currently operates the open pit mines of Foungbesso and Moyango. These are some of the richest nickel laterite deposits in the world, (around 47 million WMT). Along with CoreX in CMB the State of Côte d'Ivoire and the state mining entity SODEMI, are holding equity interest of respectively 10% and 5%.
CoreX operates across ten diverse sectors, including metals and mining, ports and terminals, green energy, shipping and logistics, infrastructure and construction, oil and gas, chemicals, international trading, financial investments, and venture capital. With a presence in 55 countries spanning five continents, the company employs over 20,000 professionals worldwide.
As Erdem & Erdem, we take pride in contributing to our client's growth strategies aimed at expanding international operations and providing legal counsel throughout this process.