Battery Metals

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 Whole Ore …

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 Whole Ore Leach Project (“WOL Project”). This suspension is expected to last up to 18 months from September 2015.
  • Mining operations continued during Q1 2016 at KOV Open Pit and Mashamba East with a focus on waste mining.

Geotechnical Failure at KOV Open Pit Mine

  • On March 8, 2016, the Company announced that a geotechnical failure was experienced on the north wall of the KOV Open Pit mine. Seven persons who were believed to have been working in the vicinity of the failure were initially unaccounted for. In addition, the dewatering infrastructure in the pit was damaged.
  • Following the incident, three bodies were recovered from the pit, one of which remains to be positively identified.  The Company must now assume that any individual who was in KOV Open Pit at the time of the incident will not have survived. On March 17, 2016, search and rescue efforts moved into the recovery phase.  The Company continues to work closely with the relevant authorities and has been providing all available support for the families and friends of the affected individuals.
  • An investigation is still underway to determine the cause of the geotechnical failure and the related costs that may arise as a result of this incident, as well as any potential insurance claims.

Click here for the full press release.

Featured

MARKETS

Markets
TSX20532.18+148.43
TSXV714.66+12.92
DOW32637.19+516.91
S&P 5004057.84+79.11
NASD11740.65+305.91
ASX7155.20+26.40

COMMODITIES

Commodities
Gold1850.64-3.41
Silver21.99+0.01
Copper4.27+0.02
Palladium2022.00+24.00
Platinum950.40+3.40
Oil114.26+3.93
Heating Oil3.86+0.12
Natural Gas8.79-0.19

DOWNLOAD FREE REPORTS

×