Katanga Mining Limited Overview and Background

Katanga Mining Limited is a Canadian mining company that was founded in 2005. It is a subsidiary of Eurasian Natural Resources Corporation (ENRC).

The company's main focus is on copper and cobalt mining in the Democratic Republic of Congo. Katanga Mining Limited has a significant presence in the country, with several mining operations and a large workforce.

Katanga Mining Limited is headquartered in Toronto, Canada, and is listed on the Toronto Stock Exchange (TSX) under the ticker symbol KAT.

Glencore took its Toronto-listed Congo unit Katanga Mining private in a deal that was announced on Wednesday.

Katanga Mining, which produces copper and cobalt from mines in the southern copper belt of Democratic Republic of Congo, was first listed in August 1997.

Glencore owns 99.46 per cent of Katanga's shares, making the acquisition a private takeover.

Katanga shareholders other than Glencore will receive 0.16 Canadian dollars in cash per share, a 100 per cent premium to the closing price on Tuesday.

Additional reading: Central Bank of the Congo

The deal was recommended by a special committee of Katanga's board, which cited commodity price risks, operational risks, financial risks, and the lack of sources of financing without support from Glencore as reasons for the takeover.

Shares in Katanga surged up 106.7 per cent to 0.155 Canadian dollars by 1415 GMT after the take-private deal was announced.

Katanga used CIBC World Markets Inc. and KPMG as financial advisers on the deal, and Fasken Martineau DuMoulin LLP as its legal adviser.

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Katanga Mining is a leading mining company that operates in the Democratic Republic of Congo. It was acquired by Eurasian Natural Resources Corporation (ENRC) in 2007. Katanga Mining is a subsidiary of ENRC and is responsible for the operation of the copper and cobalt mines in the DRC.

The company's main asset is the Kamoto mine, which is one of the largest cobalt mines in the world. The Kamoto mine is located in the Lualaba Province of the DRC.

Katanga Mining Limited operates within the Specialty Mining & Metals sector, which is a subcategory of the Basic Materials sector. This sector includes companies that extract and process raw materials such as metals and minerals.

Katanga Mining Limited is specifically involved in the extraction and processing of copper ore, which is a key component of the Metals & Mining subcategory. The company's operations are also categorized under Mineral Resources.

Katanga Mining Limited is listed on the stock market under the ticker symbol KAT. The company's stock is traded on the Toronto Stock Exchange (TSX), which is one of the major stock exchanges in North America.

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The Executive Team at Katanga Mining is comprised of experienced professionals who have been with the company for several years.

Alan Keeley has been a Corporate Officer/Principal since June 30, 2015.

Gabriel Audebert serves as the General Counsel, a position he has held since January 31, 2016.