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Katanga Mining Ltd, through its subsidiaries, is engaged in copper and cobalt production activities in the Democratic Republic of Congo (DRC). Specifically, the company explores and develops properties with potential copper and cobalt yields operate mining and processing facilities that produce copper and cobalt and holds a portfolio of other mines that may be developed in the future.

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Katanga Mining Ltd Ord > Glencore says Africa copper turnround plans on track

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Post by Sogosohubidu201 on Feb 05, 2020 4:39pm

Glencore says Africa copper turnround plans on track

https://www.ft.com/content/accfd27c-471f-11ea-aeb3-955839e06441

https://www.ft.com/content/accfd27c-471f-11ea-aeb3-955839e06441

In a update released on Tuesday, Glencore said production at Katanga — one of its most important growth assets — increased 11 per cent in three months to the end of December to 65,4000 tonnes. That performance helped boost output of cobalt, which is produced alongside copper as a byproduct.

“Katanga’s copper production in the fourth quarter of 2019 implies full year production ahead of our estimates at 260,000 tonnes and should help the company to achieve its guidance of 300,000 production by 2022,” said analysts at Citi

Shares in Glencore rose more than 4 per cent to 231p in morning trading. “African Copper production continues to rebound with Katanga having a strong quarter,” said Tyler Broda, analyst at RBC Capital Markets.

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