Katanga Mining Ltd Ord KATFF

Metals & Mining Industrial Metals & Minerals

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 to cut workers at Mutanda

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Comment by Sogosohubidu201on Feb 08, 2019 2:24pm

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RE:Glencore to cut workers at Mutanda

Pending further development, the Mutanda issue could be potentially good new for cobalt price, KAT and cobalt related stocks.

Glencore revealed in December last year that Mutanda was under review following drilling results that showed a faster than expected transition to a new type of metal bearing ore. To process this material, Glencore would need to invest heavily in new processing equipment. Today news for cutting all outside of DRC workers (Glencore will keep all DRC workers) gives further hint that Glencore may suspend Mutanda operation temporary to invest and bring in new processing equipment. Mutanda generated about 27,000 tonnes of cobalt last year. The cobalt market will be tight if this happens. This might also force DRC and Glencore to resolve the uranium issue and recommence KAT cobalt sale as soon as possible.

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