Katanga Mining to acquire Kamoto Operating

Katanga Mining Limited, a UK-based company engaged in the acquisition, exploration, and development of mineral properties, has entered into a share purchase agreement to acquire Kamoto Operating Limited (KOL), a Congo-based entity owned by Wayland Management SA and Tain Holdings Limited.

KOL is an operator of the assets of Kamoto Copper Company, a joint venture company formed to hold the Kamoto JV mineral reserves, mining, milling, hydrometallurgical facilities, and other assets.

Under the terms of the agreement, Wayland and Tain have agreed to transfer the entire issued share capital of KOL to Katanga for consideration valued at $8.22 million, comprising of a cash payment of $1.6 million and the issue of 12 million common shares in Katanga.

Deal Value (US$ Million) 8.22
Deal Type                Acquisition
Sub-Category             100% Acquisition
Deal Status              Announced: 2009-08-31

Deal Participants

Target (Company)   Kamoto Operating Limited
Acquirer (Company) Katanga Mining Limited
Vendor 1 (Company) Wayland Management SA
Vendor 2 (Company) Tain Holdings Limited

Related terms: acquisition, congo, copper, exploration, joint venture, mining