Katanga Mining has entered into a management services agreement with Glencore International, to better reflect the integrated nature of Katanga’s and Glencore International’s businesses and enhance existing controls.
Glencore International is a subsidiary of Glencore.
Pursuant to the management services agreement, Glencore International will make some of its personnel available to Katanga and will provide Katanga with administrative, financial and other management services to support the operations of Katanga and its subsidiaries and to support Katanga’s governance and reporting to the board and Katanga’s shareholders.
Glencore International head of Africa copper operations Danny Callow has been appointed CEO and director of Katanga and Glencore head of strategy Paul Smith has been appointed CFO of Katanga.
The management services agreement with Glencore International will enable the company to focus on the completion of operational enhancements to its 75%-owned copper and cobalt mine in the Democratic Republic of Congo, noted Katanga chairperson Hugh Stoyell.
Katanga’s current CFO Grant Sboros will continue in his role as site CFO of Katanga’s 75%-owned operating subsidiary, Kamoto Copper Company (KCC), while Katanga COO Samuel Rasmussen will assume the role of operations MD of KCC.
Former Katanga CEO Johnny Blizzard resigned with effect from January 16.