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Abstract
(Marketwire - Aug. 29, 2007) - CAMEC, the fully integrated exploration, mining and production company, announces that it has today made an offer to purchase all of the issued and outstanding common shares of Katanga Mining Limited ("Katanga") on the basis of 17 common shares of CAMEC for each Katanga Share ("the Offer"). Katanga shares are listed on the Toronto Stock Exchange ("TSX").
- Based on publicly announced production targets for both CAMEC and Katanga, the combined entity will have a targeted production capacity of approximately 250,000 tonnes of copper and 20,000 tonnes of cobalt per annum. At full production, CAMEC will produce approximately 60% of the cobalt and Katanga 60% of the copper for the combined entity
Through CAMEC's 80% owned subsidiary, Boss Mining SPRL, CAMEC owns the copper cobalt concessions 467 and 469 in the Katanga province in southern DRC and 50% of Mukondo Mining Company SPRL, holder of the Mukundo mining concessions. The remaining 20% of Boss Mining SPRL is owned by Gecamines, the state-owned mining company in the DRC.