Katanga Mining Ltd Ord KATFF

RE:Congo’s biggest copper miner warns of operating loss

[Lech1988]

Pretty telling when one by one the largest mines in the Congo are admitting they are not profitable under the new operating regime and at current price levels.  I hope KAT can buck that trend but the past 18 months have been nothing but dire.  Also add in the fact that they have casually pushed back the commissioning of the ion exchange system by a year (note from what we understand they don’t even have approvals yet…) and the outlook isn’t exactly rosy.  Glencore absolutely has to deliver on KAT as their African operations are under a huge amount of scrutiny from shareholders and remember more delays just means more external financing and an ever growing debt pile.