Katanga Mining Limited announced operating results for the first quarter ended March 31, 2020. Total copper cathode produced increased to 67,298 tonnes in the first quarter 2020 from 65,402 tonnes in fourth quarter 2019 and 57,175 tonnes in the first quarter 2019. Total cobalt contained in hydroxide decreased to 5,296 tonnes in first quarter 2020 from 6,173 tonnes in fourth quarter 2019 due to a decrease in cobalt oxide feed grades. Total cobalt contained in hydroxide however increased to 5,296 tonnes in first quarter 2020 from 3,511 tonnes in first quarter 2019. The increase in first quarter 2020 copper cathode and cobalt contained in hydroxide production compared to first quarter 2019 was driven by higher feed grades to the Luilu metallurgical plant. The increase in copper cathode production in first quarter 2020 from the fourth quarter 2019 was due to progress made on the electrowinning ("EW") refurbishment program and current efficiency improvements as well as maintaining high ore feed rates and copper grades to the Luilu refinery.

The company expects copper production of 270,000 tonnes and cobalt of 26,000 tonnes for the fiscal 2020.