Katanga Mining Limited
TSX : KAT

Katanga Mining Limited

June 16, 2008 09:00 ET

Katanga Mining Announces Intended Resignation of CEO

LONDON, UNITED KINGDOM--(Marketwire - June 16, 2008) - Katanga Mining Limited (TSX:KAT) ("Katanga" or the "Company") announces that Arthur Ditto has tendered his resignation as President and Chief Executive Officer of Katanga for personal reasons, effective July 10, 2008. Mr. Ditto has offered to continue in his role beyond this date in order to assist the Board with an orderly transition of responsibility to a new CEO.

Pursuant to the Merger Implementation Agreement, Glencore Finance (Bermuda) Limited ("Glencore"), a major shareholder in the Company, has the right to nominate a replacement CEO for the Katanga Board of Directors' consideration upon acceptance of Mr. Ditto's resignation.

The Board has been informed that Glencore has identified a prospective candidate to replace Mr. Ditto who will be considered by the Nomination Committee prior to the Board's final decision. A further announcement shall be made in due course.

To learn more about Katanga Mining Limited, please visit our website at www.katangamining.com.

Katanga Mining Limited operates a major mine complex in the Democratic Republic of Congo producing refined copper and cobalt. The company has the potential to become Africa's largest copper producer and the world's largest cobalt producer, with a targeted annual output of over 300,000 tonnes of refined copper and over 30,000 tonnes of refined cobalt by 2011. Katanga is listed on the Toronto Stock Exchange under the symbol KAT.

Contact Information

  • Katanga Mining Limited
    Hugh Stoyell
    Non-Executive Chairman
    +44 (0)20 7440 5800
    or
    Katanga Mining Limited
    Gavin Wood
    Analyst, Corporate Development
    +44 (0)20 7440 5800
    or
    Katanga Mining Limited
    Tiffany Carlsen
    Communications Manager
    +44 (0)20 7440 5800
    Website: www.katangamining.com
    or
    Media:
    Citigate Dewe Rogerson (UK)
    Lindsay Noton
    +44 (0)20 7638 9571
    or
    Fleishman-Hillard (North America)
    Caroline Spivak
    (416) 645-8185