Mine Risk Management > Politics

Katanga, Gécamines settle DRC dispute

Glencore’s Katanga Mining (TSX: KAT) will pay US$150 million tomorrow to joint venture partner Gécamines as part of a settlement to end a two-month legal dispute.

Jacqueline Holman and Ngaire McDiarmid

Mine Risk Management > Politics

Katanga, Gécamines settle DRC dispute

Glencore’s Katanga Mining (TSX: KAT) will pay US$150 million tomorrow to joint venture partner Gécamines as part of a settlement to end a two-month legal dispute.

Jacqueline Holman and Ngaire McDiarmid

Katanga, Gécamines settle DRC dispute

The settlement should cement Katanga/Glencore's ownership and avoid future disputes

Katanga's 75%-owned subsidiary, Kamoto Copper Company (KCC), will also convert about $5.6 billion of its $9 billion debt into equity under the settlement, which will result in Gécamines dropping all legal action.