Glencore Says Two Dead, Five Missing After Mine Landslide

  • Pit-wall failure ocurred at KOV open-pit mine in the DRC
  • Search and rescue team is trying to locate missing workers

Glencore Plc said two people were killed and five are still missing after a landslide on a pit wall at its Katanga copper operation in the Democratic Republic of Congo.

Two bodies have been recovered in the KOV open pit and the search for the remaining five is ongoing, the Switzerland-based company said in a statement on its website.

Those involved in the accident “were believed to have been working on the ongoing dewatering of the pit in the vicinity of the failure,” Glencore said in an earlier statement. “In addition, an unknown amount of damage to the dewatering infrastructure in the pit is expected to have occurred.”

The failure took place on the north wall of the mine, Glencore said. A search and rescue is also assessing “the damage and recoverability of the affected infrastructure,” it said.

Glencore suspended production from the mine in September for 18 months as part of a plan to modernize the operation and lower costs. It wasn’t due to restart until about the end of the first half of 2017. Katanga Mining Ltd., 75 percent controlled by Glencore. The Congo is Africa’s largest producer of the metal.

Glencore tumbled 17 percent to 141.1 pence by 4:08 p.m. in London. The FTSE 350 Mining Index dropped as much as 11 percent, the most since 2009.

Peter Grauer, the chairman of Bloomberg LP, the parent of Bloomberg News, is a senior independent non-executive director at Glencore.

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