Katanga Q1 losses widen
JOHANNESBURG (miningweekly.com) – TSX-listed Katanga Mining has widened its net loss attributable to shareholders for the first quarter of the year.
The group, which operated a copper-cobalt project in the Democratic Republic of Congo, posted a net loss of $118.9-million during the three months to March 31, a significant increase on the loss of $28.4-million in the first quarter of 2015.
The company’s loss before interest, taxes, depreciation and amortisation doubled from $41.8-million in the first quarter of 2015 to $86.5-million in the quarter under review.
Katanga said profitability for the period was impacted by quality discounts of $25.4-million on the finalisation of outstanding 2015 sales resulting in negative sales amounts; $3.1-million in restructuring costs; and the cessation of borrowing cost capitalisation in the prior corresponding period as the Phase 5 expansion project was completed, resulting in an amended loan facility interest expense of $74.2-million for the quarter under review.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation