Katanga's Q4 Results Reflect Shift to Waste Mining

Katanga Mining Ltd. (TSX:KAT) released its production results for Q4, as well as 2015 as a whole, commenting that ore mined during Q4 was 85.2 percent lower than it was during the year-ago period.
The decline came as the company suspended ore mining underground and moved “towards waste mining in the open pits following the suspension of copper and cobalt processing at the end of Q3.” The suspension is expected to last up to 18 months from September 2015.
Key points for the full 2015 year are as follows:

• Waste mined in 2015 was 23.9% higher than in 2014 due to the commissioning of new mining fleet and increased mining equipment productivities.
• Ore mined in 2015 was 18.9% lower than in 2014 due to the suspension of ore mining underground and the shift in focus towards waste mining in the open pits following the suspension of copper and cobalt processing at the end of Q3.
• Contained copper in ore mined in 2015 was 22.6% lower than in 2014 due to the reduced volumes of ore mined.
• In 2015, the Company commissioned:
  • One fire detection system and fire suppression system on shaft 1 at KTO;
  • One new Caterpillar 6030 Backhoe Excavator in KOV to facilitate increased ore and waste mining capacity and improve dewatering management;
  • Two Caterpillar R2900G loaders in KTO to increase the ore and waste handling capacity;
  • One lube truck and six Atlas Copco 282 Jumbos for use underground;
  • Two Caterpillar D11 dozers, one Caterpillar 834K dozer and one Caterpillar 24M grader to optimize mined waste management;
  • Five new Caterpillar 793D haul trucks operating in KOV to increase ore and waste mining capacity; and
  • One Caterpillar AD45B haul truck operating in KTO to facilitate increased ore and waste mining capacity.

The company also released its ore reserve and mineral resource estimates as of the end of 2015.
Click here to read the full Katanga Mining Ltd. (TSX:KAT) press release.