Katanga reports Q4 profit as output ramps up

TSX-listed Katanga Mining earned $15,3-million in the fourth quarter of 2009, compared with a net loss of $12,6-million in the third quarter, the copper- and cobalt-miner announced on Monday. Shares in the company jumped more than ten percent on...

Katanga to buy mine operator Kamoto

TSX-listed Katanga Mining has agreed to buy Kamoto Operating Limited (KOL), which is the operator of Katanga's Komoto copper assets in the Democratic Republic of Congo. KOL is owned by Wayland Management, an entity “connected” with DRC mining...

Katanga turns to Glencore again for bail-out

TSX-listed Katanga Mining will receive a $50-million bridge loan from shareholder Glencore Finance,to address "critical" solvency concerns, the company reported on Tuesday. Katanga shares slid 9,23% on Tuesday, to 29,5 Canadian cents apiece by...

Katanga shareholders OK big increase in authorised share capital

Shareholders in Katanga Mining have approved an increase in the authorised share capital of the company, effectively giving the go-ahead for a convertible loan from shareholder Glencore International. The two companies confirmed later on Monday...

Katanga mulls funding options, warns of dire straits

Copper- and cobalt-miner Katanga Mining, which has already scaled back its operations to cushion the effects of low metals prices, cautioned on Monday that it required additional funding "on an urgent basis" to stay afloat. The firm's cash...

Company Announcement: Katanga Project Update and 2Q 2008 Financials

Attached please find a press release on: Arthur Ditto, Katanga CEO, had the following comments concerning results: “Copper cathode production steadily increased during the second quarter, and continues to do so as filtration performance and...

Katanga inks new agreement with DRC miner Gecamines

TSX-listed Katanga Mining and Democratic Republic of Congo (DRC) State miner Gecamines have reached a deal over a new joint venture agreement, the company announced on Tuesday. Based on a memorandum of understanding (MoU) signed by both parties,...

Katanga could become takeover target – RBC analyst

TSX-listed Katanga Mining has “outstanding value growth” and could become an acquisition target within a couple of years, RBC Capital Markets analyst Cailey Barker wrote in a research note published this week. Barker initiated coverage of...

Katanga chief Arthur Ditto quits, Glencore to nominate replacement

The president and CEO of TSX-listed Katanga Mining, Arthur Ditto, will step down for “personal reasons”, the company said on Monday. Ditto's resignation will be effective July 10, but he has offered to continue in his role beyond...

Mining sector's M&A activity reaches new records

Mergers and acquisitions (M&A) activity in the mining sector has reached unprecedented levels" and a new era of "super-consolidation" is starting, according to professional services firm PricewaterhouseCoopers (PWC) latest...

Katanga's Kolwezi copper plant to close for maintenance

Toronto-listed Katanga Mining will shut its Kolwezi concentrator, in the Democratic Republic of Congo, for maintenance aimed at improving safety and performance, the company said on Tuesday.

Camec claims to be playing by DRC rules, but permit still threatened

LSE-listed Central African Mining and Exploration Company (Camec) insists that its Democratic Republic of Congo (DRC) mining permits are valid, but certain officials in the country hold a different view.