White & Case advises Mercuria on strategic copper offtake and prepayment transaction in Democratic Republic of the Congo with Eurasian Resources Group

Global law firm White & Case LLP has advised Mercuria, one of the world’s largest independent energy and commodity groups, on a strategic copper offtake and prepayment transaction with Eurasian Resources Group (ERG).

"This is a landmark deal for Mercuria and ERG in the Democratic Republic of the Congo," said White & Case partner Kamran Ahmad, who led the Firm's deal team. "The transaction showcases the Firm's ability to support strategically important deals and our deep understanding of the African Copperbelt and critical mineral supply chains."

Under the terms of the transaction, Mercuria has agreed to provide up to US$100 million in prepayments to ERG in exchange for copper sourced from ERG's operating assets located in the Democratic Republic of the Congo.

Luxembourg-headquartered ERG is a leading diversified natural resources group with integrated mining, processing, energy, logistics and marketing operations. It is one of the world's largest producers of cobalt and ferrochrome and a supplier of copper and iron ore. ERG’s largest shareholder is the Government of the Republic of Kazakhstan.

The White & Case team which advised on the transaction was led by partner Kamran Ahmad (London) and included partner Sherief Rashed (Dubai), local partner Ruslana Hrischeva (Luxembourg) and associates Ekaterina Logvinova, Azamat Gaysenov (both London), Prema Govind-Hitti, Darcy Lubich (both Dubai) and Sophia Fotso (Luxembourg).

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