KCC litigation: an agreement found between GECAMINES and Katanga Mining
The Congolese mining company GECAMINES reached an agreement on Tuesday with Katanga Mining, a subsidiary of Glencore with which the Congolese General Mines conflicted in the management of dividends generated by the mining company Kamoto Cooper Company (KCC).
A statement released Wednesday by GECAMINES speaks of a new win-win partnership.
According to this agreement, GECAMINES will begin to collect for the first time from fiscal year 2019 dividends cumulatively estimated at more than two billion US dollars. The Congolese mining giant will also benefit from a significant increase in the valuation of its stake in KCC which, the statement said, was zero because of the high level of indebtedness of KCC … read more …