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Katanga Mining Announces First Quarter Financial Results for 2016

Katanga Mining (TSX:KAT) has announced its financial results for the first quarter of 2016.

As quoted in the press release:

Profitability during Q1 2016, when compared to Q4 2015 and Q1 2015, was affected by:
Quality discounts of $25.4 million on finalisation of outstanding 2015 sales resulting in negative sales amounts;
Reduced operating expenditures

Katanga Mining Announces First Quarter 2016 Production Results

Katanga Mining (TSX:KAT) announced this week its first quarter 2016 production results and date for release of Q1 2016 financial results.

As quoted in the press release:
Suspension of production

On September 11, 2015, the Company announced the decision to suspend the processing of copper and cobalt during the construction phase of the

Two Bodies Recovered From Landslide at Glencore’s Katanga Mine

Following a geotechnical failure at an open pit mine run by Glencore’s (LSE:GLEN) Katanga Mining in the Democratic Republic of Congo, Glencore announced Tuesday that two bodies have been recovered from the open pit. In total, seven people were missing at the time of the landslide, and search and rescue

Cobalt Supply a Discussion Topic at LME Week

Metal Bulletin reported that non-Chinese sources said at LME Week that Glencore plc’s (LSE:GLEN) decision to halt copper and cobalt production at Katanga Mining Ltd. (TSX:KAT) could mean some cobalt chemical producers shift to using more intermediate feed in the metal’s place.

Glencore Suspends Cobalt Output From Katanga

As part of Glencore’s (LSE:GLEN) recently announced measures to cut costs amidst the current commodity price rout, Metalbulletin (subscription required) noted that the company has suspended cobalt production as a consequence of putting production on hold at its copper mine in the Democratic Republic of Congo.

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