August 12, 2011 / 1:02 PM / in 6 years

UPDATE 1-Katanga Mining posts Q2 profit; ups capex

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Aug 12 (Reuters) - Canada’s Katanga Mining , whose key copper and cobalt mining operations are in the Democratic Republic of Congo, posted a second-quarter profit, and said capital expenses were likely to increase 17 percent.

For April-June, the Toronto-listed miner posted a net income of $43.6 million, and sales of $165.6 million.

Quarterly copper output nearly doubled to 24,370 tonnes, and the miner said July production exceeded 9,000 tonnes.

The company expects capital expenditures to rise 17 percent to $630 million at its KOV open pit project.

Katanga shares ended at C$1.33 on Thursday on the Toronto Stock Exchange. (Reporting by Gowri Jayakumar in Bangalore; Editing by Saumyadeb Chakrabarty)

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