Katanga Mining Drawing on Credit Facility for $515.5 Million to Fund DRC Mine Expansion

Mining Weekly reported that Katanga Mining will be drawing down a $515.5 million load from its credit faciltiy in order to support the fourth phase of expansion in their copper/cobalt mine in the DRC.

As quoted in the market report:

Phase 4 of the company’s expansion plans include an upgrade of the power infrastructure, which is expected to decrease frequent power disruptions at the complex; the start of mining at the extension to the T17 openpit and the completion of the feasibility study for a potential underground mine at the T17 deposit.

To view the whole Mining Weekly report, click here.