Katanga Mining Announces Filing of Annual Information Form and Technical

BAAR, Switzerland, April 1 /CNW/ - Katanga Mining Limited (TSX:KAT) ("Katanga" or the "Company") is pleased to announce the filing yesterday of its Annual Information Form and its updated Technical Report on SEDAR. The updated Technical Report supports and expands on the Company's disclosure in its press release of September 8, 2009 with regards to, among other things, the following:

  • the accelerated increase in production capacity to 150,000 tonnes of Copper and 8,000 tonnes of Cobalt by end of Q2 of 2011;
  • the associated project capital expenditure, including the proposed increase in production capacity to 310,000 tonnes per annum of Copper and 30,000 tonnes of cobalt;
  • the ability to fund this development through existing cash balances and cash generated from operations, based on current copper and cobalt prices; and,
  • the substantial increase in net present value for the project compared to the previous Technical Report, a key driver of which has been the positive impact of the recovery of copper and cobalt prices on the Company's forward price assumptions.

About Katanga Mining Limited: 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. Katanga is listed on the Toronto Stock Exchange under the symbol KAT.

Forward-looking Information

This press release contains "forward-looking statements" within the meaning of Canadian securities legislation, concerning the business, operations and financial performance and condition of Katanga. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget,", "scheduled estimates", "forecasts", "outlook", "intends", "anticipates", "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur", or "be achieved". Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Katanga to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks relating to the refurbishment of existing facilities; unexpected events during construction, expansion and start-up; variations in ore grade or tonnes mined; future prices of copper and cobalt; possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; political unrest and insurrection; acts of terrorism; accidents, labor disputes and other risks of the mining industry; delays in the completion of development or construction activities; and factors discussed in the updated Technical Report and the current Annual Information Form of the Company filed with the securities regulatory authorities in Canada and available at href="http://www.sedar.com">www.sedar.com. Although management of Katanga has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to not be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Katanga does not undertake to update any forward-looking statements that are incorporated herein, except in accordance with applicable securities laws.

SOURCE Katanga Mining Limited

For further information: For further information:

Katanga Mining Limited

John Ross CEO

+41 (041) 766 71 10


Katanga Mining Limited

Nick Brodie


+41 (041)766 71 12

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