Forum: Grondstoffen » Katanga (KAT): een gigant in kobalt en koper » Pagina: 25 | DeBeurs.nl

Katanga (KAT): een gigant in kobalt en koper

497 Posts, Pagina: « 1 2 3 4 5 6 ... 20 21 22 23 24 25 | Laatste
Aantal posts per pagina:  20 50 100 | Omlaag ↓
Murdock2
1
quote:

Murdock2 schreef op 3 mei 2019 om 07:45:


'Vrije val batterijmaterialen maakt steeds meer slachtoffers'
www.tijd.be/markten-live/nieuws/aande...


Maar gisteren ook...
"Tesla Manager Sees Risk of Battery-Minerals Shortage in Future"
www.bloomberg.com/news/articles/2019-...

Bijkopen dus, nu het bloed in de straten loopt ;)
DoetOokMaarWat
0
Verwacht nu echt een turn around. Ook een klein cadeautje van Trump gekregen. Iemand een idee van de hoeveelheden koper uit Iran?
maurice73
0
www.dailymaverick.co.za/article/2019-...

A gift is a gift, says Glencore on $1.4bn DRC debt write-off — but US Dept of Justice is watching the mining giant
By Sasha Planting• 14 May 2019


How thin is the line between a gift and bribe? Glencore CEO Ivan Glasenberg describes a $1.4bn debt write-off as a ‘gift’ to the Congolese government. It’s the cost of doing business in a ‘poor’ country where governments are desperate for cash, he says.

...

Volgens mij verder veel nieuws dat niet echt nieuw meer is.
maurice73
0
Waarschijnlijk bij de meesten al bekend, maar ik post het toch maar:

www.ft.com/content/65de5b8a-77cd-11e9...

Glencore seeks to address Katanga debt woes
Canadian-listed company has been a near constant source of headaches for Glencore

Neil Hume, Natural Resources Editor MAY 16, 2019

Glencore is working on a deal to address the heavy debt load of Katanga Mining, the beleaguered Canadian-listed company that controls one of its most important assets.

Glencore owns 86 per cent of Katanga Mining, which in turn controls the Kamoto Copper Company (KCC), one of Africa’s biggest copper producers and a key global supplier of cobalt.

Katanga has been a near constant source of headaches for Glencore, which is run by billionaire trader Ivan Glasberg.

After Katanga was fined last year by Canadian regulators for issuing false and misleading statements, Glencore decided to take a more active role in managing the company.

Two of its top executives are now running the business and have set about shaking up its operations and imposing Glencore’s standards and procedures.

As well as trying to improve the company’s profitability and performance on the ground, Glencore is also trying to tackle Katanga’s debt and unsustainable capital structure.

In its first-quarter results statement, Katanga said it had received a proposal from Glencore aimed at tackling its indebtedness, which would be reviewed by a special committee of independent directors.

In addition, Katanga said Glencore had agreed to roll up more than $450m of interest owed on related-party loans that mature in 2021, and had guaranteed a new $500m credit facility.

Katanga did not provide details of Glencore’s debt proposal but restructuring $6.3bn of loans and $563m of interest payments will not be easy.

However, the two sides have until 2021 to reach a deal that analysts reckon will have involve a debt-for-equity swap.

In the three months to March, Katanga posted a net loss of $218.4m, against a loss $153m in the same period a year earlier.

Katanga, which has a market value of just $700m, hit the headlines last year after it was fined by Canadian regulators for issuing false and misleading financial statements.

That led to its chief executive Johnny Blizzard being banned from serving as a company director and a fine for Glencore’s former copper boss Telis Mistakidis, who served as a Katanga director and effectively ran the business.

Mr Mistakidis left Glencore last year, while Mr Blizzard has been replaced by Jeff Gerard, the chief development officer of Glencore’s coal business. Paul Smith, Glencore’s head of strategy, is Katanga’s finance director.

The company recently lowered its production guidance after its new management team launched a comprehensive business review, which is targeting significant cost reductions and operational improvements.

“The company intends to update the market with revised guidance once the review has been completed, which is expected to be during the third quarter of 2019,” Katanga said in the results statement.

Katanga was forced to halt sales of cobalt late last year after discovering traces of uranium in its supplies.

While it has been able to ship some cobalt this year, Katanga will not be able to export all of its production until a new processing plant has been built.
maurice73
0
www.theguardian.com/business/2019/jun...

Jillian Ambrose
Thu 27 Jun 2019 19.27


At least 36 illegal miners killed by collapse in open excavation pit

At least 36 illegal miners are believed to have died in a copper mine owned by Glencore in the Democratic Republic of the Congo (DRC) on Thursday.

The miners were killed when two ‘galleries’ overlooking an open excavation pit collapsed at the same mining site which claimed six lives in 2016.

Glencore, the world’s biggest mining company, confirmed that at least 19 illegal miners were killed when part of the open-pit mine in the Kolwezi area collapsed, and said further fatalities were possible. Richard Muyej, the governor of the DRC’s Lualaba province, told Reuters that the accident had claimed the lives of at least 36 “clandestine artisanal diggers”.

The FTSE 100 company, which owns 75% of the Kamoto Copper Company (KCC) through its Katanga Mining subsidiary, blamed the illegal miners for trespassing at the copper mine and “putting their lives at risk”. These miners were working along two ‘benches’, or narrow strips cut into the side of the open pit, which caved in, killing the workers.

Glencore said it has observed a growing number of artisanal miners trespassing at the mine, and estimates that on average 2,000 illegal miners gather on the site every day.

The “daily intrusions” have raised a “significant risk to its employees, operating equipment and the illegal artisanal miners themselves”, Glencore said.

In a statement Glencore said the “incidents” were not linked to the mine’s operations, and would not affect production at the mine.

The company said it was assisting search and rescue operations with the local authorities. It urged all illegal miners to “cease from putting their lives at risk by trespassing on a major industrial site”.

Deadly mining accidents are common in DRC, where unemployment is high and artisanal miners hunt for copper to sell, often in dangerous conditions.

Glencore said it is “doing what it can” to inform the communities of the dangers associated with illegal trespassing on mining sites.

“The safety and security of its employees, contractors and host communities is of paramount importance to KCC. KCC will take all possible measures to ensure their safety and will continue to engage with all relevant stakeholders,” the company said.

The collapse is Kamoto’s deadliest accident since 2016 when a 250 metre pit wall collapsed, killing six miners, of which five were employed by Kamoto. At the time a union leader said many more could have been killed had it not been for a temporary work suspension at the mine.

Advertisement
Shares in Glencore fell by 4.9% to 263.9p after news of the collapse emerged, wiping £1.8bn off the value of the Swiss-based fossil fuel group.

Katanga Mining, which is listed on the Toronto Stock Exchange, was hit with a $30m (£24m) fine by Canadian regulators last year for “materially misleading” its investors by overstating its copper reserves. Katanga was also forced to halt sales of cobalt late last year after discovering traces of uranium in its supplies.
maurice73
0
Een vraag aan ervaren commoditiesbeleggers: hoe denken jullie over de toekomst van Katanga?
DeZwarteRidder
0
quote:

maurice73 schreef op 3 jul 2019 om 13:51:


Een vraag aan ervaren commoditiesbeleggers: hoe denken jullie over de toekomst van Katanga?

Die is fantastisch als het niet in Congo lag.
maurice73
0
quote:

DeZwarteRidder schreef op 3 jul 2019 om 15:11:


[...]
Die is fantastisch als het niet in Congo lag.


Is dat volgens jou de enige negatieve factor of zijn er nog meer, bijv. de schulden? Van de koers is helemaal niets over en ik begrijp dat niet gezien het belang van kobalt voor EV's etc.
Murdock2
0
UPDATE 3-Glencore feels pain of Africa risk, cobalt price fall:

"Glasenberg said Glencore’s African copper retained significant potential and would “play a key role in the transition to a low carbon economy”.

He said he would explain turnaround plans when half-year results are announced next week, along with revised copper and cobalt guidance for Katanga.

Glencore said it would separate its African copper business from copper operations in less risky regions, including the Americas and Australia, during an overhaul of up to two years."

af.reuters.com/article/southAfricaNew...

Glencore said it had cobalt purchase agreements from the group’s mines, mainly in DRC, which could not be fully hedged because of the immaturity of the market and lack of tools available.

It said it faced a mark-to-market loss on around 10,000 tonnes of cobalt that have yet to be sold and which have to be revalued because of the slump in prices this year from around $60,000 per tonne to below $30,000

www.cnbc.com/2019/07/31/reuters-ameri...
DeZwarteRidder
0
Glencore sluit grootste kobaltmijn ter wereld
5 min geleden in FINANCIEEL

LONDEN (ANP/BLOOMBERG) - Mijnbouwbedrijf Glencore legt aan het einde van het jaar de productie stil bij de grootste kobaltmijn ter wereld in de Democratische Republiek Congo. Dat meldt de Financial Times op basis van een brief aan medewerkers.

Het Brits-Zwitserse Glencore meldde onlangs al tegenvallende resultaten door de ingezakte prijs voor kobalt. Van de grondstof, die essentieel is voor het maken van tablets, elektrische auto's en mobiele telefoons, wordt zo veel gewonnen dat het bedrijf nog op zoek moet naar kopers voor een deel van de reeds gewonnen kobalt.

Daar komt bij dat de regels in de Democratische Republiek Congo voor mijnbouw bedrijven zijn veranderd. Daardoor moeten buitenlandse mijnbouwbedrijf fors meer belasting afdragen. Glencore zegt dat de Mutanda-mijn daardoor niet meer rendabel is.
maurice73
0
Het is allemaal al wel bekend.

www.reuters.com/article/us-congo-meta...

TECHNOLOGY NEWSSEPTEMBER 10, 2019 / 2:55 PM / UPDATED 20 HOURS AGO

Electric car boom to turbocharge battery metal producers: Moody's
3 MIN READ

JOHANNESBURG (Reuters) - Demand for metals used in battery electric vehicles could rise sixfold if electric cars reach 8% of road traffic by the mid-2020s, delivering huge dividends for producing countries like Democratic Republic of Congo, Moody’s said on Tuesday.

The credit ratings agency said a worldwide shift to electric vehicles would likely drive up demand for cobalt, of which DRC is the world’s number one producer, as well as lithium, nickel and copper.

However, weak governance in the central African country could dissuade investors and scupper its potential, it added in a research note.

Other economies that would reap the benefits of the push toward electric cars include Chile, and the Philippines, followed by Peru, Indonesia, and Australia, it said.

The battery boom has the greatest potential to boost Congo’s sovereign credit rating because the production value of these metals would be “extremely large” relative to its economy.

By 2030 cobalt production could be equivalent to nearly 16% of DRC’s total GDP last year, more than half of its goods exports and 133% of its government revenue, and significantly boost its fiscal and current account balances, Moody’s wrote.

But “very weak governance, poor infrastructure and persistent pockets of social instability” remain key obstacles to foreign investment, slowing the country’s ramp-up of production, they said.

An increased focus on environmental and social issues and the traceability of metals adds another risk for DRC, Moody’s added.

But even “very partial” exploitation of DRC’s mineral wealth will likely have a credit-positive impact, the analysts said.

DRC’s economy is already in thrall to volatile battery metal prices. It is expected to grow 4.3% this year versus 5.8% in 2018 due to lower copper and cobalt prices, the International Monetary Fund forecast.

The fall in cobalt prices prompted Glencore to halt output for two years from end-2019 at its Mutanda mine in DRC, the world’s biggest cobalt mine.

Among other battery metal producers, Chile will likely see a more moderate impact, with production of battery metals likely accounting for more than 5% of 2018 merchandise exports and total government revenue by 2030, according to Moody’s.

Peru will likely increase its share of the metals market through new exploration projects, while the Philippines should also see economic gains and increased revenue collection.

Canada, China, and Russia would be the least impacted by higher demand for battery metals, Moody’s analysts said, due to the size and diversification of their economies.
DeZwarteRidder
0
News releases 2019

Katanga Mining Announces 2019 Second Quarter Financial Results

August 6, 2019

ZUG, SWITZERLAND, August 6, 2019 – Katanga Mining Limited (TSX: KAT) ("Katanga" or the "Company") today announces its 2019 second quarter financial results. Katanga's unaudited interim financial statements and management's discussion and analysis for the three and six months ended June 30, 2019 ("MD&A") are available on SEDAR (www.sedar.com)

Outlook

On April 29, 2019, the Company announced that its 75%-owned subsidiary, Kamoto Copper Company("KCC"), had commenced a comprehensive business review targeting mining efficiencies and processing improvements as well as enhancements to product quality realizations and overhead reductions (the “Review”).

Initial indications suggest there may be scope for margin improvements in the order of $200-250 million per annum. Further work needs to be undertaken to develop detailed implementation plans to deliver these improvements, which are expected to be realizable by 2022.

These improvements are expected to materially increase the cash flow generation of KCC from 2022, when it is projected to achieve targeted life of mine average production of approximately 300kt of copper and 30kt of cobalt, resulting in a steady state copper unit cash cost of approximately $1.65/lb, before cobalt byproduct credits, and approximately $0.75/lb after cobalt by-products revenue, net of allocable cobalt direct production and realization/selling costs of approximately 60c/lb.1

As a result, production guidance of copper and cobalt has been revised to:

DeZwarteRidder
0
The movement in revenue is due to the following price and volume factors:

Copper revenue decreased to $280.2 million in Q2 2019 from $355.0 million in Q1 2019. Copper revenue increased to $635.3 million in Q2 2019 YTD from $350.9 million in Q2 2018 YTD. The decrease in copper revenue in Q2 2019 versus Q1 2019 was due to slightly lower copper sales (and production) and a decrease in the realized copper price. The increase in copper revenue during Q2 2019 YTD versus Q2 2018 YTD is due to the increase in copper sales (and production), driven by the completion of phase one of the WOL Project, which was partially offset by a lower realized copper price.

Cobalt revenue increased to $20.9 million in Q2 2019 from ($0.2) million in Q1 2019. Cobalt revenue decreased to $20.6 million in Q2 2019 YTD from $141.1 million in Q2 2018 YTD. The increase in cobalt revenue in Q2 2019 versus Q1 2019 is due to the resumption of export and sale of cobalt that complies with both international and local DRC transport regulations with respect to the levels of uranium. The decrease in cobalt revenue in Q2 2019 YTD versus Q2 2018 YTD is due to the effect of the temporary suspension of export and sale of cobalt sales from November 6, 2018 to April 15, 2019.

Included in sales is a net provisional pricing adjustment resulting from movements in the commodity price between the date of sale and the final pricing, based on average prices for a specified contractual period thereafter. At each reporting date, provisionally priced sales that have not been finalized retain an exposure to future changes in prices and are marked-to-market, based on London Metal Exchange ("LME") and Metal Bulletin ("MB") forward prices. These adjustments are recorded in sales in the Statement of Loss and Comprehensive Loss and within receivables on the Statement of Financial Position. These embedded derivatives comprising provisional pricing, included in receivables, are classified within level 2 of the fair value hierarchy.
DeZwarteRidder
0
Cobalt rockets as Glencore plans closure of major mine
Price spike is relief to miners whose shares have suffered from global growth fears

Henry Sanderson August 16, 2019

The price of cobalt has soared more than 30 per cent since Glencore announced this month it would close the world’s largest mine for the battery metal, offering hope for a sector whose shares have been hit by fears over a global recession.

The rise of electric cars propelled cobalt to its highest level in 10 years of $44 a pound in April last year, before crashing to $12 following a surge in supply and stockpiling by companies in the battery supply chain.

Glencore, the world’s largest producer of cobalt, said early last week that it would shut its Mutanda mine in the Democratic Republic of Congo at the end of this year, saying mining the metal was no longer “economically viable”. Since then, cobalt prices have risen almost one-third to trade at $16 a pound on Friday, according to Fastmarkets.

The closure was “definitely needed to stimulate long-term investment in cobalt supply,” said George Heppel, an analyst at consultancy CRU in London. “With cobalt at $12 a pound that was not sufficient to keep the market well supplied in the long run.”

The price rise will come as a relief to cobalt miners, whose shares have suffered from growing fears about a global economic slowdown following US President Donald Trump’s decision to impose 10 per cent tariffs on $300bn worth of Chinese exports in July.

Shares in Glencore have slipped 23 per cent this year, hitting their weakest level since October 2016 this week. JPMorgan analysts downgraded their rating on the stock to “underweight” late this week, saying the US-China trade war could threaten the miner’s dividend by hitting commodity prices.

The DRC is the world’s largest producer of cobalt, which the country mines alongside copper. But a surge in supply from new mines and an influx of small-scale miners has been one of the key reasons behind cobalt’s price crash.

Cobalt demand from smartphone makers has also slowed as the global market reaches saturation. Mobile phone sales fell 5 per cent in China in the first seven months of this year, according to CRU.

But prices are likely to rise further, said Mr Heppel, as the closure of Glencore’s mine shifts the global market from surplus to deficit next year.

Apart from Mutanda, Glencore also produces cobalt from its Katanga mine in the DRC, as well as its Murrin Murrin deposit in Australia and nickel operations in Canada.

Carmakers are trying to reduce the amount of cobalt in their batteries because of the risks of supply-chain disruption, but that fall is likely to be offset by growth in demand for electric cars, according to Benchmark Mineral Intelligence. Cobalt is critical for battery safety in lithium-ion batteries, which can catch fire because of the flammable electrolyte.

BMW in April agreed to buy cobalt for its batteries from Glencore’s Murrin Murrin mine in Australia.
Osho
0
quote:

DeZwarteRidder schreef op 12 sep 2019 om 18:25:


Cobalt rockets as Glencore plans closure of major mine
Price spike is relief to miners whose shares have suffered from global growth fears

Henry Sanderson August 16, 2019

The price of cobalt has soared more than 30 per cent since Glencore announced this month it would close the world’s largest mine for the battery metal, offering hope for a sector whose shares have been hit by fears over a global recession.

The rise of electric cars propelled cobalt to its highest level in 10 years of $44 a pound in April last year, before crashing to $12 following a surge in supply and stockpiling by companies in the battery supply chain.

Glencore, the world’s largest producer of cobalt, said early last week that it would shut its Mutanda mine in the Democratic Republic of Congo at the end of this year, saying mining the metal was no longer “economically viable”. Since then, cobalt prices have risen almost one-third to trade at $16 a pound on Friday, according to Fastmarkets.

The closure was “definitely needed to stimulate long-term investment in cobalt supply,” said George Heppel, an analyst at consultancy CRU in London. “With cobalt at $12 a pound that was not sufficient to keep the market well supplied in the long run.”

The price rise will come as a relief to cobalt miners, whose shares have suffered from growing fears about a global economic slowdown following US President Donald Trump’s decision to impose 10 per cent tariffs on $300bn worth of Chinese exports in July.

Shares in Glencore have slipped 23 per cent this year, hitting their weakest level since October 2016 this week. JPMorgan analysts downgraded their rating on the stock to “underweight” late this week, saying the US-China trade war could threaten the miner’s dividend by hitting commodity prices.

The DRC is the world’s largest producer of cobalt, which the country mines alongside copper. But a surge in supply from new mines and an influx of small-scale miners has been one of the key reasons behind cobalt’s price crash.

Cobalt demand from smartphone makers has also slowed as the global market reaches saturation. Mobile phone sales fell 5 per cent in China in the first seven months of this year, according to CRU.

But prices are likely to rise further, said Mr Heppel, as the closure of Glencore’s mine shifts the global market from surplus to deficit next year.

Apart from Mutanda, Glencore also produces cobalt from its Katanga mine in the DRC, as well as its Murrin Murrin deposit in Australia and nickel operations in Canada.

Carmakers are trying to reduce the amount of cobalt in their batteries because of the risks of supply-chain disruption, but that fall is likely to be offset by growth in demand for electric cars, according to Benchmark Mineral Intelligence. Cobalt is critical for battery safety in lithium-ion batteries, which can catch fire because of the flammable electrolyte.

BMW in April agreed to buy cobalt for its batteries from Glencore’s Murrin Murrin mine in Australia.



Gaat ook de goede kant op met Katanga. Mag van mij nog wel even doortrekken (!)
497 Posts, Pagina: « 1 2 3 4 5 6 ... 20 21 22 23 24 25 | Laatste
Aantal posts per pagina:  20 50 100 | Omhoog ↑

Plaats een reactie

Meedoen aan de discussie?

Word nu gratis lid of log in met uw e-mailadres en wachtwoord.

Direct naar Forum

Markt vandaag

 AEX
577,44  -1,64  -0,28%  20 sep
 AMS25-24h 574,27 -0,55%
 Germany30^ 12.397,20 -0,49%
 Dutch15-index 16.162,10 -0,11%
 BEL 20 3.738,72 +0,89%
 BRX20-24h 3.712,98 -0,69%
 Europe50^ 3.552,49 -0,53%
 Euro30-index 18.233,09 +0,36%
 US30# 26.912,28 -0,06%
 Nasd100# 7.811,20 -0,16%
 US500# 2.987,88 -0,17%
 Japan225# 21.968,33 -0,50%
 Gold World Spot (USD) 1.516,75 +1,13%
 New York WTI spot 56,22 +1,06%
 EUR/USD 1,1018 0,00%

Stijgers

ALTICE EUROPE... +6,10%
Vopak +4,63%
UNIBAIL-RODAM... +1,89%
Alfen N.V. +1,83%
Eurocommercia... +1,79%

Dalers

SIGNIFY NV -5,36%
Sligro -3,04%
Fugro -2,34%
IMCD -2,24%
Accell -2,22%