(MENAFN- ProactiveInvestors) () fell in Tuesday’s trading after the operator of a major mine complex in Congo said it has started a review of its business pointing to commodity-market conditions.
Shares decreased 22.5% to C$0.155 at 10:46 a.m. in Toronto.
The Zug Switzerland-based company said in a statement on Sunday that it will look at options such as a total suspension of copper and cobalt production until the Whole Ore Leach project is complete. Canadian markets were closed on Monday for the Labour Day holiday.
Katanga a majority-owned unit of Glencore said the project is on track to be completed by mid-2017.
Glencore has indicated it will provide or procure the additional funding required if any for the Whole Ore Leach project in addition to any funding necessary for operations (and/or suspension thereof) and other capital expenditures during the project building and commissioning phases.
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