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Katanga update
GLENCORE PLC
(Incorporated in Jersey under the Companies (Jersey) Law 1991)
(Registration number 107710)
JSE Share Code: GLN
LSE Share Code: GLEN
HKSE Share Code: 805HK
ISIN: JE00B4T3BW64
Baar, Switzerland
14 September, 2015
Update on Katanga
Glencore notes the announcement made by Katanga Mining Limited (Katanga) on 11
September that the Board of Katanga has confirmed the suspension of copper and cobalt
production for 18 months. Katanga will continue with the planned investment of USD880 million
into ongoing processing plant upgrades and the waste stripping of the KOV and Mashamba
open pits. These process upgrades include the commissioning of the new leach plant which will
replace the existing oxide concentration process. The Whole Ore Leach (“WOL”) project is
currently on schedule and budgeted to be completed by the end of the first half of 2017. This is
expected to significantly improve both copper recoveries and operating unit costs. Unit costs
are expected to decrease to c.$1.65lb.
Katanga will retain 80% of the existing workforce and will aim to minimize the impact of the
suspension on its employees. During the suspension, Katanga will invest in a skills
development program which will include work programs at other operations and the attendance
of identified staff at Mopani’s technical school in Zambia. In line with the commitment to
responsible operations, Katanga will continue to operate its hospitals for the benefit of its
employees and dependents and continue to run its health projects, including the various water
supply projects. The Company funded community development programmes will continue in
partnership with the Government. This will include the expansion of existing projects.
Representatives of Katanga have been in Kinshasa to meet with the relevant Government
Ministries including the Prime Minister and have presented the WOL project and the
suspension plan to them. Katanga undertakes to take into account the issues raised by the
Government during the meetings.
For further information please contact:
Investors
Paul Smith t: +41 41 709 24 87 m: +41 79 947 13 48 paul.smith@glencore.com
Martin Fewings t: +41 41 709 28 80 m: +41 79 737 56 42 martin.fewings@glencore.com
Elisa Morniroli t: +41 41 709 28 18 m: +41 79 833 05 08 elisa.morniroli@glencore.com
Media
Charles Watenphul t: +41 41 709 2462 m: +41 79 904 33 20 charles.watenphul@glencore.com
Pam Bell t: +44 20 7412 3471 m: +44 77 9962 6715 pam.bell@glencore.co.uk
www.glencore.com
www.youtube.com/glencorevideos
Glencore is one of the world’s largest global diversified natural resource companies and a major producer
and marketer of more than 90 commodities. The Group's operations comprise of over 150 mining and
metallurgical sites, oil production assets and agricultural facilities.
With a strong footprint in both established and emerging regions for natural resources, Glencore's
industrial and marketing activities are supported by a global network of more than 90 offices located in
over 50 countries. Glencore's customers are industrial consumers, such as those in the automotive, steel,
power generation, oil and food processing. We also provide financing, logistics and other services to
producers and consumers of commodities. Glencore's companies employ around 181,000 people,
including contractors.
Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the
International Council on Mining and Metals. We are an active participant in the Extractive Industries
Transparency Initiative.
Sponsor
Absa Bank Limited (acting through its Corporate and Investment Banking Division)
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