Katanga Mining acquires Kamoto Operating

Katanga Mining Limited, a UK-based company engaged in the acquisition, exploration, and development of mineral properties, has acquired the entire issued share capital of 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.

Announcement (August 28, 2009):

Katanga has entered into a share purchase agreement to acquire KOL.

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              Completed: 2009-09-23

Deal Participants

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

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