Katanga “has commenced a review of capital expenditure commitments with a focus on optimising its development programme considering current market conditions”, the firm said in an emailed statement.

The review will focus on improving cash flow while preserving balance-sheet capacity and retaining the ‘optionality’ of the company’s assets.

Katanga is consolidating, rehabilitating and expanding the neighbouring Kamoto and KOV operations after merging with rival Nikanor earlier this year, and has set a production target of 300 000 t/y of copper and 30 000 t/y of cobalt by 2011.

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