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Katanga Mining Ltd Ord KATFF

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.


OTCPK:KATFF - Post by User

Comment by Sogosohubidu201on Aug 21, 2019 11:26am
93 Views
Post# 30050591

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

RE:Congo’s biggest copper miner warns of operating losshttps://www.bloomberg.com/news/articles/2019-08-21/china-molybdenum-says-giant-congo-copper-mine-is-losing-money

The Chinese operator of the Democratic Republic of Congo’s largest copper producer has told employees that it’s struggling to make money as the collapse of cobalt and copper prices hits miners in the country.

China Molybdenum, which operates the giant Tenke Fungurume mine, said falling metal prices combined with higher taxes and royalties, and rising costs meant it was now in a “deficit zone.” The company said it had also been hit by problems with production equipment.

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