Traded as TSX: KAT Website www.katangamining.com Founded 1996 Parent organization Glencore | Industry mining Headquarters Zug, Switzerland Number of employees 6,400 | |
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Stock price KAT (TSE) CA$ 0.36 +0.02 (+5.80%)10 Mar, 4:52 PM GMT-5 - Disclaimer Subsidiaries Nikanor Plc, Katanga Mining Finance Limited | ||
Katanga mining limited how glencore s kcc mining has supported local entrepreneurs and development
Katanga Mining Ltd (TSK:KAT) is a mining company operating in the Democratic Republic of the Congo with its headquarters in Canada. Katanga Mining operates a major mine complex in the Congo's Katanga Province, producing refined copper and cobalt. It claims to have the "potential of becoming Africa's largest copper producer and the world's largest cobalt producer." Katanga paid US$452 million in cash to Nikanor shareholders. In January 2008 Nikanor was merged into Katanga Mining. Katanga Mining Ltd is majority-owned by Swiss commodity trader Glencore.
Contents
- Katanga mining limited how glencore s kcc mining has supported local entrepreneurs and development
- Katanga mining ltd kat canadian stock to watch
- KCC
- References
A joint venture of Katanga Mining (75%) and Gécamines (25%) began mining Tilwezembe, an open-pit copper and cobalt mine, in 2007. In November 2008, Katanga Mining said they had temporarily suspended mining at Tilwezembe and ore processing at the Kolwezi concentrator due to the depressed price of cobalt.
Katanga mining ltd kat canadian stock to watch
KCC
Katanga Mining jointly owns the Kamoto Copper Company SARL (KCC) with Gécamines. KCC SARL produces copper and cobalt at the Kamoto concentrator, the Luilu metallurgical plant, the Kamoto underground mine and two oxide open pit resources in the Kolwezi district. As of March 2010 the open pit Kananga Mine was also the property of KCC. The mine was not active.
The Dima mines, consisting of Mashamba East, Mashamba West and Dikuluwe Open Pit were originally owned by the state-owned Gécamines before majority rights were sold to Katanga Mining and Nikanor in the early 2000s. In January 2008 Katanga Mining acquired Nikanor Plc for $452m. Following the friendly merger of the Katanga Mining and Nikanor assets, there was speculation that the Dikuluwe and Mashamba West deposits were being transferred to Gécamines, and would be exploited by a joint venture owned 32% by Gécamines and 68% by a Chinese consortium. In February 2008 it was confirmed that Katanga Mining was selling Dikuluwe and Mashamba West to Gécamines for $825 million.