Gide has advised China Machinery Engineering Corporation (formerly China National Machinery & Equipment Import & Export Corporation) in connection with the dispute between the Republic of Gabon and the Compagnie Minière de Belinga (COMIBEL) concerning the validity and implementation of the mining convention, signed in May 2008, regulating mining activities at the Belinga iron ore mine. The dispute between the parties was resolved by the transfer of all shares of Chinese COMIBEL shareholders (CMEC and PANGANG GROUP co. Ltd (formerly Panzhihua Iron & Steel Group), which together held 75% of COMIBEL’s shares) to the Republic of Gabon. This transfer was finalised on 20 December 2013 in Libreville, Gabon.
CMEC retained Gide’s Projects (Finance & Infrastructure) team to advise on all aspects of the transfer, including the drafting, negotiation and finalisation of the mining convention. The Gide team dedicated to the project comprised four lawyers, including partner François Krotoff (Paris), who advised CMEC on the drafting and negotiation of the mining convention, together with partner Stéphane Vernay (Paris) and associates Laure Weymuller (Paris) and Chen Xi (Beijing).