August 14, 2017 / 2:27 PM / 2 months ago

Miner Katanga to restate some past financial statements

Aug 14 (Reuters) - Katanga Mining Ltd said on Monday it would restate some past financial statements to correct inaccuracies in its recorded amount of copper production during 2015 and 2014.

Katanga, which mines copper and cobalt in the Democratic Republic of Congo, said the $630 million net loss it reported for 2015 will be reduced by about $55 million, net of related income taxes.

Katanga said it would also restate results for the first quarter of 2017.

The miner said its second-quarter report would be delayed as a result of the restatement. (Reporting by Ahmed Farhatha in Bengaluru; Editing by Sai Sachin Ravikumar)

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