Reuben Mining Investment

11 September 2011 – The Sunday Times

A clutch of wealthy City investors has taken a stake in the biggest tin miner in Rwanda. The group includes Julian Treger, the founder of Audley Capital, and the billionaire Reuben brothers.

They were brought together by Brian Menell, the South African mining entrepreneur whose Kemet Group, a holding company with interests across Africa, is the controlling shareholder of the miner Tinco.
Together the investors put up £8m in debt, convertible into a 20% stake in the company. Treger has agreed to join the board.

Tinco owns five mines that were set up by the Belgians during their colonial reign, but were closed after the 1994 genocide in Rwanda, in which 800,000 people were killed in three months. Tinco has since reopened them. With nearly 5,000 workers, it is the largest private employer in the country.