The Democratic Republic of Congo’s leading mining company, Katanga, which produces refined copper and cobalt, has a new chief executive.
Glencore International’s Jeff Gerard will succeed Danny Callow as CEO of the company, effective 2nd of May this year.
Katanga mining is a unit of Swiss commodity trader, Glencore, which owns about 86% of the entity.
On Thursday, the company confirmed Gerard’s appointment, following the signing of a management services agreement between Katanga and Glencore in January, to better reflect the integrated nature of Katanga’s and Glencore’s businesses and enhancing existing controls.
Gerard will also serve as the head of Glencore’s assets in the DRC, as well as oversee the Glencore group’s other operation there.
Katanga Mining operates a major mine complex in the Congo’s Katanga Province and claims to have the potential of becoming Africa’s largest copper producer and the world’s largest cobalt producer.
It paid US$452 million in cash to Nikanor shareholders. In January 2008 Nikanor was merged into Katanga Mining.