Katanga Mining Limited Provides Update on Projects; Production Results for the Third Quarter and Nine Months Ended September 30, 2019; Revises Production Guidance for 2019, 2020 and 2021
October 24, 2019 at 07:40 pm
Share
Katanga Mining Limited provided an update on its major projects and announced its 2019 third quarter production results at the Company's 75%-owned subsidiary Kamoto Copper Company. Cobalt Projects Update The cobalt debottlenecking projects at KCC are expected to continue throughout 2020. Commissioning of two filter presses was completed earlier in the year, while the third filter press was commissioned during third quarter 2019. Commissioning of the magnesium oxide plant was completed earlier in the year while commissioning of the cobalt dryers concluded with additional works required due to mechanical failure during third quarter 2019. Cobalt dryer is undergoing a temporary repair which should be completed in fourth quarter 2019. Dryer is undergoing design modifications and is expected to be commissioned during first quarter 2020. Once the permanent upgrade is completed on dryer, dryer will be taken off-line to commence the upgrade. Ramp up to full drying capacity is targeted for mid-2020. Once full drying capacity is reached, KCC will be in a position to export the dry cobalt production, including from processing accumulated cobalt inventories. The objective of the Cobalt Projects is to upgrade the existing cobalt plant design in order to reduce bottlenecks through modification of the precipitation, thickening, filtration, drying and bagging processes. This will align the design of the cobalt plant with the average life-of-mine cobalt production plan of 30,000 tonnes per annum. These improvements integrate with the existing WOL processing facilities at Luilu. Acid Plant Update: The Sulphuric Acid production, Sulphur Dioxide production and Steam Turbine Generator project at KCC, continues to progress. All civil works have been completed for Phase 1 with Phases 2 and 3 civil works scheduled for completion in fourth quarter of 2019. Structural, mechanical, plate work, piping and electrical and instrumentation installation are progressing. Design has been completed, and some procurement items will continue into fourth quarter of 2019, but mainly relating to the Sulphur dioxide production and the Steam Turbine Generator. KCC has received from the Directorate for the Protection of the Mining Environment, the applicable Environmental Impact Study approvals. Commissioning of the Acid Plant is scheduled to continue through first half of 2020.
The company announced production results for the third quarter and nine months ended September 30, 2019. For the quarter, total ore mined was 3,561,044 tonne against 3,561,044 tonne a year ago. Total contained copper was 112,015 tonne against 69,643 tonne for the same period a year ago. Total concentrate produced was 52,725 tonne against 49,122 tonne for the same period a year ago.
For the nine months, total ore mined was 8,327,603 tonne against 7,696,096 tonne a year ago. Total contained copper was 248,363 tonne against 156,754 tonne for the same period a year ago. Total concentrate produced was 186,839 tonne against 186,839 tonne for the same period a year ago.
The company revised production guidance for 2019, 2020 and 2021. For 2019, the company expected copper of 233 kt and Cobalt of 16 kt.
For 2020, the company expected copper of 270 kt and Cobalt of 29 kt.
For 2021, the company expected copper of 295 kt and Cobalt of 32 kt.
Katanga Mining Limited is a Switzerland-based holding company. The Company, through its subsidiaries, produces copper and cobalt metal and that have copper and cobalt assets in the Democratic Republic of Congo (DRC). Through its subsidiaries, it operates mining and processing facilities for the production of copper and cobalt; conducts exploration and development of properties with the potential to yield copper and cobalt mineral resources, and holds several other mines. It, through its subsidiary, Kamoto Copper Company SA, is engaged in the exploration, mining, refurbishment, rehabilitation, development and operation of the Kamoto/Mashamba East mining complex, including KTO Underground Mine (KTO), KTE Underground Mine, Kamoto Oliveira Virgule (KOV Open Pit or KOV), the T17 Mine consisting of T17 Open Pit and T17 Underground Mine.The Company is a wholly-owned subsidiary of Glencore group.
Katanga Mining Limited Provides Update on Projects; Production Results for the Third Quarter and Nine Months Ended September 30, 2019; Revises Production Guidance for 2019, 2020 and 2021