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OSC approves US$22.24M Katanga settlement

The Ontario Securities Commission (OSC) has approved a US$22.24 million (C$30 million) settlement with Katanga Mining over what it called the company’s misleading statements, and its failure to properly disclose the risks of operating in the Democratic Republic of Congo.

OSC approves US$22.24M Katanga settlement OSC approves US$22.24M Katanga settlement OSC approves US$22.24M Katanga settlement OSC approves US$22.24M Katanga settlement OSC approves US$22.24M Katanga settlement

Katanga Mining has agreed to pay C$30 million in penalties stemming from disclosure deficiencies

The subsidiary of Swiss mining giant Glencore said on Tuesday a panel at the OSC had approved a voluntary C$28.5 million payment and to reimburse the commission $1.5 million for costs.