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Glencore's Growing Legal Troubles With Katanga Mining

6 · A year ago, Katanga Mining Limited ... Glencore even played a role in a complicated arrangement whereby Gertler became the owner of a valuable stream of mining royalty payments Glencore paid to Gecamines, a Congolese state-owned company. Gecamines yielded the royalties to Gertler after defaulting on a loan.

Glencore's Katanga Mining – from the frying pan into the fire

Glencore subsidiary Katanga Mining has been served a freezing order against 75% operating subsidiary Kamoto Copper Company (KCC), in the amount of US$2.28 billion. The freezing order was served in the DRC by Ventora Development Sasu, a company …

Glencore's Katanga Mining Limited settles DRC dispute ...

Glencore's Katanga Mining Limited settles DRC dispute. Eric Oteng 14/06 - 09:00 ... The $150 million payment will be funded by new loans from Glencore, which owns 86 percent of Katanga.

Glencore buys stakes in Mutanda and Katanga ... - MINING.com

The company will also purchase Gertler's minority stake in Katanga Mining Ltd. (TSX:KAT), for $38 million, increasing its ownership in the company which owns the Katanga copper-cobalt mine, also ...

Glencore's Latest Congo Setback Gets a Shrug From Investors

In the latest twist, Katanga Mining Ltd., in which Glencore owns 86 percent, said it's been blocked from exporting copper and cobalt from the Congo over a dispute around payments on copper that was never actually mined years ago.

Glencore redirected $75m to scandal-hit friend of ...

A Global Witness investigation found that from 2013 to 2016 Toronto-listed Katanga Mining, majority-owned by Glencore, made "signature bonus" and other payments totalling over $75 million to Dan Gertler's Africa Horizons company, registered in the Cayman Islands.

Glencore - Wikipedia

In a June 2018 "debt-for equity swap", Glencore's Katanga Mining Ltd. agreed to a recapitalization plan involving a US$5.6 billion debt write-off and a $150 million payment to the Congolese state mining company Gécamines. According to company sources, Gertler will receive a royalty payment of about 25 million euros in 2018.

Glencore's Prize Cobalt Miner Is Bogged Down Deeper in ...

Apr 23, 2018· Katanga Mining Ltd. will soon be the world's top cobalt miner, churning out thousands of tons of metal and billions of dollars in revenue for Glencore Plc. It's also turning into a major thorn ...

Glencore's Katanga Mining soars on dizzying cobalt rally ...

Shares in Glencore-owned Katanga Mining Ltd, surged for the second straight day on Tuesday on news it has restarted a copper and cobalt mining operation that will become one of the world's biggest ...

An Update On Katanga Mining - Katanga Mining Ltd. (OTCMKTS ...

Glencore increased their stake in Katanga Mining from 75% to 86.33%. Katanga Mining updated that the mine will now ramp to 30,000tpa cobalt (previously 22,000tpa). Copper production to ramp to 300 ...

Glencore: Quick Note On Katanga Mining - Katanga Mining ...

The mine is owned by the Kamoto Copper Company (KCC), which itself is a joint venture of Glencore's subsidiary Katanga Mining (OTCPK:KATFF) in which the DRC's state-owned Gecamines has a …

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Jun 04, 2018· katanga mining limited glencore Glencore Lady Loretta Find the cheap Glencore Lady Loretta, Find the best Glencore Lady Loretta deals, Sourcing the right Glencore Lady Loretta supplier can be time-consuming and difficult.

glencore katanga mining limited - africar-hire.co.za

Katanga Mining faces threat from Congo company - The Globe and . Apr 24, 2018 The revelation of a dispute between Glencore PLC and state-owned Gécamines mining company has accused Toronto-listed Katanga Mining Ltd. of Katanga, owned by Swiss-based mining giant Glencore PLC, had seen

Glencore unveils $5.6 bln Katanga restructuring - MarketWatch

Swiss mining giant Glencore PLC unveiled a sweeping $5.6 billion restructuring of its troubled Congo copper company, Katanga Mining Ltd., resolving a heated dispute with Congo's state-run mining ...

Glencore's Katanga Mining – from the frying pan into the fire

Katanga Mining. View of the Musonoie-T17 open pit mine Glencore subsidiary Katanga Mining has been served a freezing order against 75% operating subsidiary Kamoto Copper Company (KCC), in the amount of US$2.28 billion.

Glencore: The Inside Story of How It Dug Itself out of a ...

Last September, Glencore suspended its Katanga Mining operations in Congo. Some 1,400 workers left, and about 4,000 stayed for when the mine reopens late next year.

Why Glencore bought Israeli tycoon out of Congo mines ...

Glencore now owns all of Mutanda Mining, and 86 per cent of Katanga Mining, and its increased ownership of the two assets gives the group greater exposure to copper, which is viewed as one of the ...

Katanga Mining Limited: how Glencore's KCC mining has ...

Jul 14, 2015· Glencore mining company Katanga has made significant investments in its mines in Africa, as well as in local development and infrastructure, …

Katanga Mining Ltd (KAT.TO) News| Reuters.com

Nov 6 Glencore subsidiary Katanga Mining Ltd said on Tuesday it would temporarily suspend cobalt exports from its Kamoto Project in Congo after it found excessive levels of uranium in the ore.

Glencore responds to ICIJ's questions

Glencore's shareholding in Nikanor prior to the merger with Katanga Mining Limited (Katanga) was an equity interest of 13.88%. In January 2008, Nikanor and Katanga merged. The merger resulted in Glencore's 13.88% equity stake in Nikanor being converted into an 8.52% stake in the combined group.

Katanga Mining - Wikipedia

Katanga Mining Ltd (TSX:KAT) is a mining company operating in the Democratic Republic of the Congo with its headquarters in Canada. Katanga Mining operates a major mine complex in the Congo's Katanga Province, producing refined copper and cobalt .

glencore katanga mining limited - Mineral Processing EPC

Mar 08, 2016· Glencore Lady Loretta. Find the cheap Glencore Lady Loretta, Find the best Glencore Lady Loretta deals . 1:50 Katanga Mine: an overview of Glencore s KCC Mining in Congo, one of ..

Glencore's DRC subsidiaries in hot water? | Mining

Glencore's initial interest in Nikanor plc was acquired in June 2007. Nikanor was a publicly listed company on the Alternative Investment Market (AIM) in London. Glencore first obtained an equity interest in Katanga Mining, in January 2008 as a result of the merger of Nikanor and Katanga Mining.

Glencore's Congo Unit Halts Sales of Radioactive Cobalt ...

Katanga Mining Ltd., controlled by Glencore, said Tuesday it will build an ion exchange system to remove uranium, which is expected to cost about $25 million and be ready by the end of the second ...

UPDATED STATEMENT BY GLENCORE AND KATANGA TO THE ...

In June 2007, Glencore acquired an interest in Nikanor Plc (Nikanor). Nikanor was a publicly listed company on the Alternative Investment Market (AIM) in London. Glencore's shareholding in Nikanor prior to the merger with Katanga Mining Limited (Katanga) was an equity interest of 13.88%. In January 2008, Nikanor and Katanga merged.

Glencore purchases stakes in Mutanda and Katanga – Geology ...

In addition, Glencore has acquired a further 15,325,000 shares in Katanga Mining Limited ("Katanga"), corresponding to an approximate 0.8% stake, which were held as the security for a loan provided to Ruwenzori Limited, a member of the Fleurette group, in connection with Ruwenzori's acquisition of 25,000,000 shares in Nikanor PLC which ...

Announcement in connection with Katanga Mining Limited

Glencore notes the announcement today by Katanga Mining Limited ("Katanga") of the completion of an internal review of certain of Katanga's historic accounting practices (the "Review") and the restatement of Katanga's financial statements.

Glencore: Environmental damage, human rights violations ...

project brief describtion Katanga Mining Ltd. operates a copper-cobalt project in the Democratic Republic of Congo. It is a 75% subsidiary of Glencore, listed at the Toronto Stock Exchange and has changed its incorporation from Bermudas to the Yukon Territory in Canada in 2011 ...