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Katanga (KAT): een gigant in kobalt en koper

516 Posts
Pagina: «« 1 ... 20 21 22 23 24 ... 26 »» | Laatste | Omlaag ↓
  1. ubu 26 juni 2018 14:39
    sedar.com/CheckCode.do;jsessionid=000...

    KATANGA MINING ANNOUNCES COMPLETION OF TRANSACTIONS CONTEMPLATED
    BY SETTLEMENT AGREEMENT WITH GÉCAMINES
    ZUG, SWITZERLAND, June 26, 2018 – Katanga Mining Limited (TSX: KAT) ("Katanga" or the
    "Company") announces today that, together with its 75% operating subsidiary in the Democratic Republic of the Congo (“DRC”), Kamoto Copper Company (“KCC”), it has completed the transactions contemplated by the settlement agreement (the Settlement Agreement”) announced on June 12, 2018, with (amongst others) the Company’s joint venture partner, DRC state-owned company La Générale des Carrières et des Mines (“Gécamines”). Pursuant to the Settlement Agreement, Katanga and KCC have effected a recapitalization plan to resolve KCC’s previously disclosed capital deficiency in accordance with the requirements provided for by DRC corporate law and Gécamines has withdrawn the legal proceedings it commenced on April 20, 2018 in the Kolwezi Commercial Court to dissolve KCC
  2. forum rang 10 DeZwarteRidder 3 juli 2018 12:41
    Glencore shares dive as African troubles escalate dramatically
    The subpoena relates to its operations in Nigeria, DRC and Venezuela
    03 July 2018 - 10:02 Thomas Biesheuvel and Katie Linsell

    London — Glencore tumbled the most in two years as its African troubles escalated dramatically, after US authorities demanded documents relating to possible corruption and money laundering.

    The world’s biggest commodity trader said on Tuesday that it has been subpoenaed by the US Department of Justice to produce documents on its compliance with the Foreign Corrupt Practices Act and US money laundering statutes.

    The documents relate to the company’s business in Nigeria, the Democratic Republic of Congo and Venezuela, from 2007 to the present.

    The shares plunged as much as 11%.

    It has been a tumultuous year for Glencore, mostly due to challenges linked to its business in the Congo, where it operates giant copper and cobalt mines.

    The Swiss commodities trader and miner is already facing the possibility of a bribery investigation by UK prosecutors over its work with Dan Gertler, an Israeli billionaire and close friend of Congo President Joseph Kabila, people familiar with the situation said in May.

    Glencore said it was reviewing the subpoena and would provide further information in due course as appropriate.

    The shares dropped to their lowest since July 2017 and were down 10% by 9.06am in London.

    On the JSE, the shares were down 12.54% at R56 at 10.22am - their lowest point since August 2017.

    “Given the flow of negative news we’ve had through the course of this year, the knee jerk reaction is worse than it otherwise might have been,” Investec Securities analyst Hunter Hillcoat said.

    “The DOJ fines can be big, but to wipe out 10% of the market cap would be bigger than any fine I can recall.”

    Last month, the company’s problems seemed to be easing as it headed off two of its biggest challenges in the DRC.

    Faced with the risk of losing control of its mines, Glencore bowed to the demands from two entities with close government ties — the state-run mining company Gecamines and Gertler, who is the subject of US sanctions.

    Glencore’s bonds also slumped on the news. The company’s à500m of notes due April 2026 led the decline, falling 3c on the euro to 108c, the biggest drop in more than two years, according to data compiled by Bloomberg.

    Bloomberg
516 Posts
Pagina: «« 1 ... 20 21 22 23 24 ... 26 »» | Laatste |Omhoog ↑

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