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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Glencore plc    GLEN   JE00B4T3BW64

GLENCORE PLC

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Glencore : KCC mine in Congo had acid spill on March 16

04/06/2021 | 04:18pm EDT
FILE PHOTO: The logo commodities trader Glencore is pictured in Baar

KINSHASA (Reuters) - Glencore's Kamoto Copper Company (KCC) mine in the Congo had a "limited release" of sulphuric acid from a tank during maintenance work on March 16, the commodities trading giant said on Tuesday.

Glencore declined to say how much acid was spilled from the tank, but said KCC immediately contained the spill and conducted follow-up monitoring of the environment, and there were no injuries to the workforce or contractors.

"At approximately 7pm on 16 March, KCC experienced a limited release of acid from Tank Farm 1 during maintenance work. There was no explosion," Glencore said in a statement.

"Follow-up with the community was conducted to advise of the event and our community officers have not registered any complaints nor concerns from their engagement with the surrounding communities."

Glencore's statement came after Congolese non-governmental organisation AFREWATCH said a tank containing sulphuric acid had exploded at KCC, causing acid to spill into nearby rivers, and called for an investigation.

Mines minister Willy Kitobo Samsoni told Reuters investigations are underway.

Glencore said KCC continues to engage with local authorities and communities regarding the incident, and hosted a site visit by the Department of the Environment last month.

KCC, which is 75% owned by Glencore subsidiary Katanga Mining with the remainder held by Congo's state mining company Gecamines, produces copper and cobalt near Kolwezi, the capital of Congo's Lualaba province.

KCC produced 23,900 tonnes of cobalt in 2020, up 40% in the previous year.

(Reporting by Hereward Holland and Helen Reid; Editing by Jonathan Oatis)


© Reuters 2021
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Financials (USD)
Sales 2021 209 B - -
Net income 2021 5 026 M - -
Net Debt 2021 30 474 M - -
P/E ratio 2021 7,02x
Yield 2021 5,41%
Capitalization 40 061 M 55 264 M -
EV / Sales 2021 0,34x
EV / Sales 2022 0,31x
Nbr of Employees 87 822
Free-Float 74,8%
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Average target price 4,80 $
Last Close Price 3,03 $
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Ivan Glasenberg Chief Executive Officer & Executive Director
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Steven F. Kalmin Chief Financial Officer
Anthony Bryan Hayward Independent Non-Executive Chairman
John Joseph Mack Independent Non-Executive Director
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