KAT meaning in Business ?

Answer:

What is Katanga Mining Limited mean?

Katanga Mining Ltd is a mining company operating in the Democratic Republic of the Congo with its headquarters in Canada. Katanga Mining operates a major mine complex in the Congo's Katanga Province, producing refined copper and cobalt. It claims to have the "potential of becoming Africa's largest copper producer and the world's largest cobalt producer." Katanga paid US$452 million in cash to Nikanor shareholders. In January 2008 Nikanor was merged into Katanga Mining. Katanga Mining Ltd is 86% owned by Swiss commodity trader Glencore. Canada required a $20 million fine from the company in 2019 due to unclear relationship with the Congolese authorities.

A joint venture of Katanga Mining (75%) and Gécamines (25%) began mining Tilwezembe, an open-pit copper and cobalt mine, in 2007.In November 2008, Katanga Mining said they had temporarily suspended mining at Tilwezembe and ore processing at the Kolwezi concentrator due to the depressed price of cobalt.

Katanga Mining was purchased by Glencore in 2020 and it was de-listed from the Toronto Stock Exchange.

reference

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