Glencore says Kamoto Copper Company ramping up to full production
Glencore's head of Africa copper on Tuesday said its Democratic Republic of Congo subsidiary Kamoto Copper Company (KCC) is ramping up to full production and should produce 270 000 t of copper as cathode in 2020.
KCC is also expected to produce 25 000 t of cobalt hydroxide, Glencore's Mark Davis said.
In remarks made after a meeting with Congo's prime minister, Mark Davis said Glencore was also continuing to weigh options for a potential restart of its Mutanda Mining operation, which the company shuttered in November due to falling cobalt prices, increased costs and higher taxes.
"The Kamoto Copper operation is very successfully ramping up to full production levels during this current year ... and the Mutanda Mining operation remains under care and maintenance but we continue to study options for a restart in the future," said Davis.
The Kamoto mine has been ratcheting up output since it started producing at the end of 2007. The then owners Kinross Forest and Gecamines aimed for the mine to produce 25 000 t of copper in its first full year.
Davis said the meeting with Prime Minister Sylvestre Ilunga Ilunkamba was an opportunity to build on the "good discussions" between the mining industry and government over the past weeks.
"It represented the willingness of all parties to work together as good business partners," he said.
Congo's government this month pledged to reimburse value-added tax payments it owes mining companies, a win for the industry which says it is owed a total of more than $1-billion in reimbursements.
Glencore holds 75% of KCC through its Congo unit Katanga Mining, which the Switzerland-based firm took private and delisted from the Toronto stock exchange in April. Congo's state mining firm Gecamines holds the remaining 25% of KCC.
Comments
Research Reports
Projects
Latest News
Showroom
AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa
VISIT SHOWROOM
Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
