London, June 27, 2025 – The international group Gerald, specialized in metal trading, has issued a warning against two tender offers issued by the Congolese company Soremi SA for the sale of 10,000 tons of copper cathodes and 40,000 tons of zinc ingots. According to Gerald Group, these tender offers are deemed illegal, issued without valid authorization, and in violation of several court decisions made in the jurisdictions of Hong Kong and the British Virgin Islands (BVI).
Soremi SA, operating in the Boko Yanga mining corridor in the Republic of Congo, is a subsidiary of Soremi Investments Ltd (SIL), a company domiciled in the BVI. Gerald Group claims to have acquired the entire capital of SIL following disputes with China National Gold Group Hong Kong Ltd (CNG), previously the majority shareholder. The courts of the BVI and Hong Kong have reportedly recognized, according to Gerald, its property and control rights over SIL through several decisions made between April 2023 and March 2025.
Gerald laments that, despite the court rulings, CNG continues to exercise de facto control over Soremi SA, notably by maintaining what it deems an illegitimate management. The group accuses CNG and its parent company, China National Gold Group Corporation (CNGG), a Chinese state-owned enterprise, of not respecting the court orders and of “knowingly” delaying and obstructing their enforcement.
An interim measures order issued by the Hong Kong Court in April 2025 notably prohibits CNG from proceeding with any transfer of assets from Soremi SA, including through tender offers. However, Gerald claims that the sales envisaged by the tender offers of June 6, 2025 contravene these court decisions.
Gerald Group emphasizes that it holds an exclusive right of first refusal on the entire production of Soremi SA and asserts that it has exercised this right on all volumes put up for tender. Any sale concluded outside of this framework would therefore, according to the company, be “illegal and unauthorized.”
The company warns that it will take all necessary legal actions against the parties involved in these transactions, whether it be Soremi SA, its current leaders, or potential buyers. It also announces its intention to pursue legal actions to restore what it considers to be legal governance and protect the assets of the Congolese company.
At the time of publishing this article, multiple attempts by Financial Afrik to obtain the facts from Soremi SA, China National Gold Group Ltd, or CNGG have remained unanswered. In the absence of responses from the parties involved, this version of events only reflects the official position of Gerald Group.
