Glencore plans to double Katanga copper output

Glencore plans to double copper production from its Katanga mine in the Democratic Republic of the Congo over the course of the next two years, the mining giant said in an investor update.

Katanga is expected to produce 150,000 tonnes of copper per year in 2018 before doubling that to 300,000 tonnes in 2019 as the company completes the first train of its new whole ore leach processing facility at its other mining site in the region, in Lualaba Province.
All-in unit cash costs are currently at $0.86 per lb for copper, and that is expected to decrease gradually as Katanga ramps up to full production, Glencore said. That is a solid margin, with copper prices recently hitting a more than three-year high on the London Metal Exchange.

The LME's three-month copper contract closed the official session at $6,653 per...


Dalton Barker

December 13, 2017

01:05 GMT