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Is the reign of Glencore’s billionaire copper king near its end?

By: Bloomberg     9th October 2018 Aristotelis Mistakidis is one of the world’s most powerful commodity traders. For nearly 20 years, the brash, hyperactive Greek known to everyone simply as “Telis” has ruled over the global copper market, buying and selling enough of the red metal to supply every factory in the US twice over.... 

Katanga’s H1 copper, cobalt revenues rise

By: Anine Kilian     8th August 2018 TSX-listed Katanga Mining on Wednesday reported that its copper revenue for the first half of this year increased to $350.86-million, compared with $3 000 in the first half of 2017, while its cobalt revenue increased to $141.1-million, from zero revenue in the first half of the prior year. “The... 

Katanga on track to achieve full-year guidance

By: Simone Liedtke     31st July 2018 During the second quarter of this year, TSX-listed Katanga Mining made progress with the high-grade clarifier, receiving thickener and the post-leach clarifier that form part of the whole ore leach (WOL) project at subsidiary Kamoto Copper Company’s copper/cobalt mine, in the Democratic Republic... 

Katanga appoints new COO

By: Simone Liedtke     9th July 2018 TSX-listed Katanga Mining, which is a subsidiary of diversified miner Glencore, has appointed Samuel Rasmussen COO. Rasmussen, who holds a BSc in Chemical Engineering and Petroleum Refining from the Colorado School of Mines, has copper processing and mining experience in large-scale openpit and... 

US probe darkens Glencore's horizons from Africa to Americas

By: Bloomberg     4th July 2018 The US corruption and money-laundering probe into Glencore Plc represents the sum of all fears for the world’s largest commodity trader and its billionaire CEO Ivan Glasenberg. The possibility that the Justice Department would add to the dizzying array of regulatory and legal headaches the Swiss... 

Mining investors spooked as African dispute payments multiply

By: Bloomberg     28th June 2018 Miners across Africa are increasingly using one-time payments to settle disputes with governments, a trend that’s disturbing some investors. A $150-million payment by Glencore’s Katanga Mining to the Democratic Republic of Congo’s Gecamines earlier this month followed Freeport McMoRan’s separate... 

Glencore’s DRC settlements should allay fears about asset seizure – analyst

By: Chanel de Bruyn     15th June 2018 Diversified miner Glencore’s settlement, this week, of various disputes with entities in the Democratic Republic of Congo (DRC), should allay investor concerns about the risk of a seizure of its DRC assets, says Goldman Sachs. Glencore, led by CEO Ivan Glasenberg, on Friday announced that it had... 

Glencore says settled Congo mining dispute

By: Reuters     15th June 2018 Miner and commodities trader Glencore has settled its Congo mining dispute with two companies associated with Israeli billionaire Dan Gertler by agreeing to pay royalties in a currency other than US dollars, Glencore said on Friday. US sanctions on Gertler, Glencore's former Israeli partner in... 

Gecamines plans to renegotiate with foreign partners

By: Reuters     14th June 2018 Democratic Republic of Congo State miner Gecamines has called on its foreign partners to renegotiate the terms of joint ventures it considers to be unfair, its chairman said on Thursday. Heavily in debt and with dwindling output, Gecamines has long complained about its joint venture terms. It... 

Glencore’s Katanga resolves debt dispute with Gécamines

By: Marleny Arnoldi     13th June 2018 Diversified miner Glencore’s Katanga Mining subsidiary has settled its legal dispute with Democratic Republic of Congo (DRC) State-owned trading and mining company La Générale des Carrières et des Mines (Gécamines).  

Glencore goes from crisis to crisis with possible bribery probe

By: Bloomberg     21st May 2018 It’s becoming hard to keep track of all of Glencore’s legal battles in the Democratic Republic of Congo. The world’s biggest commodity trader is facing the possibility of a bribery investigation by British prosecutors over its work with Dan Gertler, an Israeli billionaire and close friend of... 

Glencore said to face UK bribery probe over Congo dealings

By: Bloomberg     18th May 2018 The UK’s white-collar crime prosecutor is preparing to open a formal bribery investigation into Glencore and its work with Israeli billionaire Dan Gertler and the leader of Democratic Republic of Congo (DRC), according to two people with knowledge of the matter. Investigators at the Serious Fraud... 

Katanga ramps up DRC copper, cobalt production as legal woes mount

By: Henry Lazenby     15th May 2018 Commodity giant Glencore’s majority owned and publicly traded Democratic Republic of Congo- (DRC-) focused copper/cobalt unit Katanga Mining is ramping up output after resuming production from the Phase 1 whole ore leaching project on December 11, the company reported on Tuesday. Katanga will... 

Congo court suspends Gecamines bid to dissolve Glencore unit

By: Bloomberg     8th May 2018 A Democratic Republic of Congo court suspended proceedings by State-owned mining company Gecamines to dissolve a unit of Glencore until next month. The Commercial Court in Kolwezi, in southeastern Congo, ordered the suspension while it awaits a June 15 ruling by the Supreme Court on its... 

Glencore's Congo mining conundrum

By: Reuters     4th May 2018 Miner and commodities trader Glencore is embroiled in a legal tangle over its copper and cobalt operations in Democratic Republic of Congo, where conflict and changes to regulations have deterred many mining firms. US sanctions on Glencore's former Israeli partner in Congo have been a trigger for... 

Glencore Q1 global production in line with full-year guidance

By: Marleny Arnoldi     3rd May 2018 Diversified miner Glencore on Thursday reported that its production for the first quarter was largely in line with expectations across all commodity groups and that its full-year guidance remains unchanged.  

Gécamines says was forced to seek dissolution of Katanga’s Kamoto

By: Anine Kilian     24th April 2018 State-owned La Générale des Carrières (Gécamines) says it was forced to take legal action to dissolve TSX-listed Katanga Mining’s Kamoto Copper Company (KCC) for failure to restore shareholders’ equity within the legal time period. The State-owned miner has initiated court proceedings to seek the... 

Gécamines starts legal proceedings to dissolve Katanga’s Kamoto Copper Company

By: Simone Liedtke     23rd April 2018 State-owned La Générale des Carrières et des Mines (Gécamines), TSX-listed Katanga Mining’s joint venture (JV) partner in the Kamoto Copper Company (KCC), in the Democratic Republic of Congo (DRC), has begun legal proceedings to dissolve KCC. This follows KCC’s failure to address its capital... 

Cobalt upstarts add capacity in Congo as prices triple

By: Bloomberg     27th March 2018 A little-known cobalt miner in the Democratic Republic of Congo plans to ramp up output so fast it will soon be out-produced only by industry leader Glencore. Chemaf, a closely held Lubumbashi-based company, and several other firms are capitalizing on a boom in demand that’s transforming small... 

Glencore faces off against labour group on Congo mine conditions

By: Bloomberg     26th March 2018 Commodity giant Glencore defended working conditions at its mines in the Democratic Republic of Congo after an international labour federation said its employees are poorly treated and underpaid. The spat with Geneva-based IndustriALL, a global union federation that says it represents more than... 

As commodities roar, Africa wants bigger slice of mining pie

By: Bloomberg     22nd March 2018 One by one, the biggest names in African mining are getting squeezed. The tactics might be blunt, but the message is clear: the countries where they operate want a bigger share of the proceeds. The collapse in commodities through 2015 hobbled some of Africa’s biggest resource economies, stunting... 

Katanga gaining traction at KOV mine in DRC

By: Megan van Wyngaardt     1st February 2018 TSX-listed Katanga Mining mined 433 169 t of ore, at an average grade of 2.18%, to produce 9 459 t of copper, at its KOV mine, in the Democratic Republic of Congo (DRC), during the fourth quarter of 2017. In 2016, ore mined at KOV reached 825 t and was related to incidental ore mined during waste... 

Glencore shrinks job of billionaire copper head amid Congo probe

By: Bloomberg     15th January 2018 Glencore reduced the role of its billionaire head of copper, Aristotelis Mistakidis, shaking up the business after a review in the Democratic Republic of Congo raised questions about accounting and management. Mistakidis, one of Glencore’s largest shareholders and a key lieutenant of CEO Ivan... 

Congo may more than double tax on critical global cobalt supply

By: Bloomberg     10th January 2018 The Democratic Republic of Congo is preparing to more than double a tax on two-thirds of global cobalt supply, potentially increasing the cost of the critical battery metal just as the world begins to embrace electric vehicles. Congo, the world’s biggest cobalt producer, will increase the royalty... 

Katanga completes WOL hot commissioning

By: Natasha Odendaal     12th December 2017 The hot commissioning of the core of the first train of TSX-listed Katanga Mining’s new whole ore leach (WOL) processing facility has been completed. The company in September 2015 suspended the processing of copper and cobalt at subsidiary Kamoto Copper Company’s (KCC’s) copper and cobalt mine,... 

Glencore CFO to assist Katanga in strengthening its corporate governance

By: Natasha Odendaal     20th November 2017 JSE- and LSE-listed Glencore has nominated three directors, including its CFO Steve Kalmin, to serve on the board of subsidiary company, TSX-listed Katanga Mining. The three directors will work with Katanga’s independent directors to implement the required remediation measures to strengthen... 

Battery boom relies on one African nation avoiding chaos of past

By: Bloomberg     27th October 2017 The cars of the future will depend increasingly upon supplies of an obscure metal from a country in the African tropics where there has never been a peaceful transition of power and child labor is still used in parts of the mining industry. Most major automakers are pledging to build millions of... 

Katanga to restate certain historic results 

By: Henry Lazenby     15th August 2017 Canadian copper/cobalt producer Katanga Mining said on Monday it would restate some past financial statements to correct inaccuracies in its recorded amount of copper production during 2015 and 2014. The company's independent directors are conducting an ongoing review in cooperation with... 

Katanga continues to progress WOL project

By: Creamer Media Reporter      27th July 2017 Throughout the first six months of this year, TSX-listed Katanga Mining has continued to advance its $437-million Whole Ore Leach (WOL) project, which is set for commissioning to start in the fourth quarter of this year. The company in September 2015 suspended the processing of copper and cobalt... 

JV contract secured to desilt acid ponds

16th June 2017 Industrial pump rental service provider Integrated Pump Rental, in a joint venture (JV) with supplier and service provider of equipment to mining and allied industries EC Mining, has secured a contract to desilt four acid ponds at a copper mine in the Democratic Republic of Congo (DRC). This... 

Copper miner appoints new COO

By: Nica Schreuder     2nd June 2017 Copper miner Katanga Mining has appointed Deon Garbers its new COO, the TSX-listed company reports in its results for the three months ended March 31. This followed the resignation of COO Don Peterson last year to pursue other opportunities. 

Katanga on track to commission WOL project in Q4

By: Megan van Wyngaardt     4th May 2017 TSX-listed Katanga Mining will continue to focus on waste mining ahead of the commissioning of its whole ore leach (WOL) project, in the Democratic Republic of Congo. Katanga mined 5.39-million tonnes during the quarter ended March 31, a 250% increase on that mined in the fourth quarter of 2016... 

Glencore paid Gertler's firm $100m Congo royalties

By: Bloomberg     3rd March 2017 Glencore paid more than $100-million previously owed to the Democratic Republic of Congo’s state mining business to a company controlled by billionaire investor Dan Gertler, according to advocacy group Global Witness. It’s the first time the value of the payments made to Gertler have been made... 

Glencore consolidates DRC copper asset ownership

By: Henry Lazenby     13th February 2017 Global diversified miner Glencore has increased its holding in copper assets in the Democratic Republic of Congo (DRC) after buying a 31% interest in Mutanda Mining from billionaire mining tycoon Dan Gertler’s Fleurette Group and a 10.25% stake in Katanga Mining. Glencore paid Fleurette... 

Katanga on track for H2 whole ore leach project commissioning

By: Natasha Odendaal     2nd February 2017 TSX-listed Katanga Mining is on track with plans to start commissioning its whole ore leach (WOL) project during the second half of this year, as work continues on design optimisation and construction according to the defined project plan. The Democratic Republic of Congo-focused copper and... 

Katanga continues to focus on process plant optimisation

By: Megan van Wyngaardt     3rd November 2016 TSX-listed copper and cobalt miner Katanga Mining will focus on continuing design optimisation and construction of its whole ore leach (WOL) project during the fourth quarter. The Democratic Republic of Congo-focused miner in September 2015 suspended the processing of copper and cobalt during the... 

African Thunder Platinum appoints new CEO

By: David Oliveira     24th June 2016 Platinum group metals producer African Thunder Platinum (ATP) announced the appointment its new CEO Brett Richards earlier this month. Richards is a well-known mining executive, with more than 30 years' experience in mining and metals. He has CEO experience in publicly listed resource companies... 

Katanga COO steps down

By: Creamer Media Reporter      7th June 2016 TSX-listed Katanga Mining COO Don Peterson has resigned to pursue other opportunities. The group on Tuesday said it would appoint a successor in due course. 

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