Gécamines says was forced to seek dissolution of Katanga’s Kamoto

State-owned La Générale des Carrières (Gécamines) says it was forced to take legal action to dissolve TSX-listed Katanga Mining’s Kamoto Copper Company (KCC) for failure to restore shareholders’ equity within the legal time period. The State-owned miner has initiated court proceedings to seek the dissolution of KCC in the Democratic Republic of Congo (DRC), after Katanga failed to reduce billions of dollars of intercompany debt that has limited Gécamines’ share of profits.