Katanga Mining Limited Board of Directors approved the appointment of Peter Freyberg as director of the Company and Chairman of the Company's HSSE Committee. Mr. Freyberg replaces Mike Ciricillo, who tendered his resignation as director of the Company on July 12, 2019. Mr. Freyberg is the Head of Industrial Assets for the Glencore group. He originally joined the Glencore coal assets business in 2000, and transferred to Xstrata in 2002 when Glencore sold its coal assets to Xstrata. Mr. Freyberg became Chief Executive Officer of Xstrata Coal in 2008 and rejoined Glencore in 2013 when Glencore merged with Xstrata.

The company provided an update on its major projects and announced its 2019 second quarter production results. June 2019 Cobalt Projects Update: The Company's previously announced cobalt debottlenecking projects (the "Cobalt Projects") are expected to be completed and in full production during second quarter of 2020. The commissioning of two filter presses was completed earlier in the year, while the third filter press is expected to be completed in third quarter of 2019. The commissioning of the MgO plant was completed in the first half of 2019. The objective of the Cobalt Projects is to upgrade the existing cobalt plant in order to reduce bottlenecks by modification of the precipitation, thickening, filtration, drying and bagging processes. This will align the capacity of the cobalt plant with the average planned lifeofmine cobalt production of 30,000 tonnes per annum. Following these improvements, the cobalt circuit will be fully integrated with the existing wholeoreleach processing facilities at the Luilu metallurgical plant. At the end of second quarter of 2019 and in July 2019, the recently commissioned cobalt dryers suffered mechanical breakdowns, which has prevented the Company from drying cobalt hydroxide until the expected completion of repairs to the dryers in fourth quarter of 2019. June 2019 Acid Plant Update: The Company's sulphuric acid, sulphur dioxide production plant and steam turbine generator project (the "Acid Plant"), continues to progress in accordance with the latest construction plan. Final design items and minor procurement items will be finalized in third quarter of 2019, and all critical civil works have now been completed for Phase 1 of the Acid Plant. Structural, mechanical, plate work and piping installation are in accordance with the plan. All major long lead items have arrived on site and are being installed. Commissioning of the Acid Plant is scheduled to commence in the first half of 2020.

Copper cathode production decreased to 52,514 tonnes in second quarter of 2019 from 57,175 tonnes in first quarter of 2019. Cobalt contained in hydroxide production decreased to 2,607 tonnes in second quarter of 2019 from 3,511 tonnes in first quarter of 2019. Total ore mined increased to 2,458,522 tonnes in second quarter of 2019 from 2,308,037 tonnes in first quarter of 2019. Total waste mined increased to 13,660,266 tonnes in second quarter of 2019 from 10,259,978 tonnes in first quarter of 2019. Total contained copper increased to 68,731 tonnes in second quarter of 2019 from 67,616 tonnes in first quarter of 2019.

For the six months ended June 30, 2019, Total ore mined increased to 4,766,559 tonnes from 4,256,429 tonnes in second quarter of 2018 year to date. Total waste mined increased to 23,920,244 tonnes from 21,780,865 tonnes in second quarter of 2018 year to date. Total contained copper increased to 136,348 tonnes from 87,111 tonnes in second quarter of 2018 year to date.

The company noted that it expected that 2019 production of copper and cobalt would be lower than the guidance provided at the beginning of the year, namely c.285kt of copper and c.26kt of contained cobalt, and that it would provide an update in third quarter of 2019, once the Review was complete.