Katanga Mining Announces Completion of Transactions Contemplated by Settlement Agreement with G?(C)camines
ZUG, Switzerland, June 26, 2018 /CNW/ - Katanga Mining Limited (TSX: KAT) ("Katanga" or the "Company") announces today that, together with its 75% operating subsidiary in the Democratic Republic of the Congo ("DRC"), Kamoto Copper Company ("KCC"), it has completed the transactions contemplated by the settlement agreement (the "Settlement Agreement") announced on June 12, 2018, with (amongst others) the Company's joint venture partner, DRC state-owned company La Générale des Carrières et des Mines ("Gécamines"). Pursuant to the Settlement Agreement, Katanga and KCC have effected a recapitalization plan to resolve KCC's previously disclosed capital deficiency in accordance with the requirements provided for by DRC corporate law and Gécamines has withdrawn the legal proceedings it commenced on April 20, 2018 in the Kolwezi Commercial Court to dissolve KCC.
About Katanga Mining Limited
Katanga Mining Limited operates a major mine complex in the Democratic Republic of Congo producing refined copper and cobalt. The Company has the potential to become Africa's largest copper producer and the world's largest cobalt producer. Katanga is listed on the Toronto Stock Exchange under the symbol KAT.
Forward Looking Statements
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All forward-looking statements reflect the Company's beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company's forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.
Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
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SOURCE Katanga Mining Limited
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