KINSHASA-Lusaka, Sept 11 (Reuters) – Congolese miner Kamoto Copper Company (KCC) , controlled by Glencore, said on Friday it was suspending production of copper and cobalt due to weak commodity prices but would pursue a planned $880 million modernisation project to cut costs.
Étiquette : Glencore’s
Glencore’s Copper-Mining Halt Deals Blows to Congo, Zambia
(Bloomberg ) Lusaka-Kinshasa, Monday 07 September 2015 – Glencore Plc’s decision to suspend production at units in the Democratic Republic of the Congo and Zambia will halt about a quarter of the countries’ copper output and confront their governments with the potential of job losses a year before elections, analysts said. Glencore’s announcement that it will suspend copper and cobalt production at Katanga Mining Ltd. is a “major blow” to the Congolese government of Joseph Kabila, Ahmed Salim, senior associate at New York advisory firm Teneo Intelligence, said in an…