Glencore unit’s Q1 suffers from $14.5m DRC tax penalty

Katanga Mining, the Congo copper producer Glencore owns, said on Friday first-quarter net profit shrunk to $5-million, about one-eighth of the figure it reported for the same period one-year ago. The TSX-listed company said a $14.5-million...

Third-quarter production at Katanga up 64%

Glencore unit Katanga Mining, which produces copper in the Democratic Republic of Congo, on Friday reported a slight dip in third-quarter profit to $20.6-million, impacted by an unrealised mark to market adjustment. Production surged 64% to 53...

Canadian newspaper lifts lid on new Kolwezi acquirer

Canada's Financial Post has reported that the Kolwezi copper tailings project, which the government took away from TSX-listed First Quantum Minerals in September, is now in the hands of a British Virgin Islands company called Highwind Properties....

Project delays, mine shutdowns and cutbacks

A chronological summary of project delays, mine shutdowns and production cutbacks announced by miners around the world in response the falling metals prices and tightening financial markets. Begins July 2008.

BHP Billiton sells cobalt at $13,20/lb

Mining giant BHP Billiton sold 10 t (not ten million tons as incorrectly reported earlier) of cobalt for December delivery at $13,20/lb, the company reported on Thursday. The last reported sale, in September, was for 5-million tons at $36,50/lb,...

Fire halts production at Katanga's Luili plant

TSX-listed mining company Katanga Mining on Wednesday said it had temporarily halted copper and cobalt production at the Luili metallurgical facility, in the Democratic Republic of Congo, following a transformer fire. The company said in a...

Katanga reviews capital spending

Copper and cobalt miner Katanga Mining is re-examining its capital expenditure plans, but, in the meantime, will continue funding the second phase of its Kamoto rehabilitation project. Katanga “has commenced a review of capital expenditure...

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...

Katanga arranging $550m loan to fund DRC project

TSX-listed copper and cobalt miner Katanga Mining is in the “later stages” of discussions with a group of banks to underwrite a loan of up to $550-million to fund the company's Democratic Republic of Congo project, CFO Steve Jones...

African boom for consultancy firm

The Democratic Republic of Congo (DRC) is turning out to be an area of great potential for consulting engineering company, SRK Consulting.

Katanga moves to boost output

Copper and cobalt miner Katanga Mining, which on January 11 completed a merger with former competitor Nikanor, plans to produce over 300 000 t of copper and 30 000 t of cobalt from its central African mines by 2011, an executive said on Wednesday.

Katanga shareholders approve Nikanor merger

The merger between Katanga Mining and Nikanor will go ahead, after 72,4% of the votes cast at a meeting of Katanga shareholders on Friday were in favour of the deal.