Congo mining firm hires FD to steer Katanga bid

A Congo-focused mining firm planning to create one of the biggest companies to trade its stock on AIM has brought in FD.

The Congo: Camec has mining interests
The Congo: Camec has mining interests

The Central African Mining & Exploration Company (Camec) has called in the agency as it makes a controversial bid for Canadian miner Katanga Mining.

FD will have to wade through a sea of controversy surrounding Congolese mining after the deportation of Billy Rautenbach – a major shareholder in Camec – from the Democratic Republic of Congo (DRC) last month.

The South African national was expelled amid allegations of fraud and other crimes in his home country. Although he denied he was deported, the Katanga provincial government, based in DRC, used Bell Pottinger to release a statement, confirming Rautenbach is now a ‘persona non grata’ in the country.

FD replaces St Brides on the account, and will focus on the business side of the deal, showing investors synergies between the two companies.

Camec has already raised its stake in Katanga Mining, holding around 22 per cent of the currently outstanding common shares of the firm.

Whereas Camec has now moved from exploration to the actual production of copper, Katanga is developing its copper and cobalt assets for shipment later this year.

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