|Bid||0.1200 x 0|
|Ask||0.1300 x 0|
|Day's Range||0.1200 - 0.1300|
|52 Week Range||0.1100 - 0.8300|
|Beta (3Y Monthly)||0.54|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Katanga Mining Limited , a big Congolese copper and cobalt producer, said on Thursday it would raise around $7.6 billion Canadian dollars ($5.8 billion) via a rights issue as part of a debt-for-equity swap with parent Glencore. Katanga Mining will subsequently owe Glencore $1.5 billion, reducing its debt from $7.7 billion after experiencing setbacks including a fall in the price of cobalt from record levels of $95,000 per tonne in 2018 to around $35,000 now. Thursday's statement said Glencore, which owns approximately 86.3% of Katanga, had agreed to swap $5.8 billion in debt for equity, which will raise its stake further in the firm.
The worst result, after buying shares in a company (assuming no leverage), would be if you lose all the money you put...
The number of artisanal miners killed by a landslide at a copper and cobalt mine run by Glencore in southeast Congo rose to 43 on Friday and could climb further as the search for missing workers continues, local officials said. Thursday's accident occurred in the KOV open-pit mine at the Kamoto Copper Company (KCC) concession near Democratic Republic of Congo's southern border with Zambia, in which Glencore subsidiary Katanga Mining has a 75% stake. "We think that other bodies are still under the rubble," said Joseph Yav Katshung, the director of cabinet for the governor of the Lualaba province where the incident occurred.
Katanga Mining Ltd, a unit of Glencore Plc, on Wednesday named Glencore Coal's chief development officer Jeff Gerard to the top job, taking over from Danny Callow. The appointment comes less than two months after Glencore, the world's biggest supplier of seaborne coal, said it would limit annual coal production capacity to current levels of about 150 million tonnes after discussion with its investors. Gerard will take over on May 2 and will also serve as the head of Glencore's assets in the Democratic Republic Of Congo (DRC) and oversee its Mutanda mining operation in the country.
Katanga Mining Ltd, a unit of Glencore Plc, on Wednesday named Glencore Coal's chief development officer Jeff Gerard to the top job, taking over from Danny Callow. Gerard will take over on May 2 and will ...
Katanga Mining Ltd, a unit of Glencore Plc, said on Monday it resumed exporting and selling a limited quantity of cobalt from its Kamoto Project in the Democratic Republic of Congo (DRC). The company said in November it had temporarily suspended the export and sale of cobalt from the project after uranium was found in levels above the acceptable limit for export. Katanga said on Monday it produced about 930 tonnes of contained cobalt since January through interim operational solutions.
Want to participate in a research study? Help shape the future of investing tools and earn a $60 gift card! Katanga Mining Limited (TSE:KAT) shareholders might be concerned after seeing the share price drop 18% in the last mo...
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Glencore plc and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
Miner and trader Glencore on Friday stuck to its 2019 production targets and said cobalt output last year soared 54 percent while copper rose 11 percent due to the restart of operations in the Democratic Republic of Congo. Production of cobalt, used in batteries for electric vehicles, reached 42,200 tonnes in 2018 while copper hit 1.453 million tonnes. Zinc output was mostly flat year-on-year at 273,300 tonnes.
Glencore-controlled (GLEN.L) Katanga Mining Ltd (KAT.TO) said on Tuesday it agreed to pay more than $22 million to settle Canadian allegations of inadequate historical disclosures of its finances and activities in the Democratic Republic of Congo. Johnny Blizzard, chief executive officer of the Toronto-listed company, will resign and leave its board, which includes three new directors, the miner said in a filing on Tuesday. Katanga's shares closed up 5.3 percent at 60 Canadian cents, compared with the local stock benchmark's (.GSPTSE) 0.4 percent gain.