Katanga Mining Announces 2017 First Quarter Financial Results

Katanga Mining Limited (TSX: KAT) (“Katanga” or the “Company”) today announces its financial results for the first quarter of 2017.

As quoted in the press release:

  • Profitability during Q1 2017, when compared to Q4 2016 and Q1 2016, was affected by:

    • Lower mine infrastructure and support care and maintenance costs of $20.9 million (Q4 2016 – $33.8 million; Q1 2016 – $29.4 million) primarily due to the absence of write-off of consumable stores inventory, which had a net impact to the income statement of $9.9 million and $3.3 million in Q4 2016 and Q1 2016, respectively;

    • Higher KTC care and maintenance costs of $5.9 million due to increased maintenance activities in preparation for the commissioning of the WOL Project, which is expected to commence in Q4 2017 (Q4 2016 – $3.2 million; Q1 2016 – $3.1 million);

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