Katanga Mining Ltd Ord KATFF

RE:RE:RE:RE:China Non Ferrous

[Lech1988]

Specifically I am referring to this...am I interpretting this to mean that at the moment only 40% of proceeds from the sales of KAT mining production to Glencore can even leave the country?  Can someone smarter than me explain how much of KAT's mining revenues are even attributable to minority shareholders?

"The rules governing foreign exchange under the New DRC Mining Code has the potential to have a significant impact on the Company. Specifically, the New DRC Mining Code provides that KCC is required to repatriate at least 60% of the proceeds from exports of mineral products, which proceeds may only be used for domestic expenses of KCC. The remaining 40% of export proceeds may be used for foreign expenses, including payment of foreign suppliers, servicing of foreign debt and the payment of dividends to non-DRC resident shareholders. Under the 2002 Mining Code, only 40% of export proceeds were required to be repatriated. This restriction may affect the ability of KCC to fully maintain its supply relationships with certain key non-DRC suppliers, service the Residual Debt and pay dividends to KMFL and ultimately to the Company. The Company is considering certain commercial and structural options to mitigate the potential
negative impact of such restrictions."