Serus Legal has assisted Sage Management in securing a partnership agreement to revive operations at the Kisenge manganese mine in Lualaba, Democratic Republic of the Congo.
The partnership calls for the creation of a joint-venture company, owned 50-50 by Sage and the existing owner of the mine, Société Commerciale la Minière de Kisenge – Manganèse SARL (SCMK-Mn).
Sage is a US-based company that identifies and develops mining assets that have been overlooked or abandoned, with a particular focus on battery metals and infrastructure.
The partnership with SCKM-Mn will revive operations at the historic high-grade manganese mine. Assets include a 25km2 mining license comprising 240,000 tonnes of washed high-grade manganese ore, nearly 2.4 million tonnes of run-of-mine manganese ore (stockpiled next to a rail loading facility), and 27 million tonnes of historic reserves and resources in open pits. Mine infrastructure includes a power substation, water pumping station, rail loadout facility, pilot ferromanganese plant, and an airfield.
Sage will provide initial funding to restart operations at the Kisenge mine which has immediate revenue and cashflow potential from exporting the washed high-grade stockpile.
Rising demand for lithium batteries has led to increased demand for high-purity manganese. With increased nickel and cobalt prices, battery manufacturers are increasingly looking at manganese as a cost-effective substitute.
Brian Savage, CEO of Sage, commented: “We’re very pleased to finalize the partnership and appreciate the support of Serus Legal, particularly Peter Finan and Serge Nawej. This fantastic asset will produce high-value products for the energy storage sector, placing Kisenge and the DRC firmly in the center of the battery sector. We look forward to working with Serus further as we develop this exciting project.”
Peter Finan, Managing Principal of Serus Legal, said: “This is a great result for Sage. The signing of the agreement marks an important milestone for the DRC and the future of green energy as manganese gains a larger share of the market as a battery mineral. We’re very pleased to have played a part in such an important partnership.”
Serus Legal’s team was led by Peter Finan (New York) and Serge Nawej (Kinshasa).
Need Help in the DRC? – The Serus Legal team works bilingually across Africa. With a vetted network, we help with asset acquisition and development, and the preparation of royalty, JV, earn-in, EPC, and concession agreements.
Serus is an international law firm that uses technology and lower overheads to provide quality legal services at a significantly better value.
For more information, please email felix@seruslegal.com or info@seruslegal.com