Glencore strikes deal with Katanga over $5.8 billion rights issue
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LONDON (Reuters) - Katanga Mining Limited , a big Congolese copper and cobalt producer, said on Thursday it would raise around $7.6 billion Canadian dollars ($5.8 billion/£4.5 billion) via a rights issue as part of a debt-for-equity swap with parent Glencore.Katanga Mining will subsequently owe Glencore $1.5 billion (£1.2 billion), reducing its debt from $7.7 billion after experiencing setbacks including a fall in the price of cobalt from record levels of $95,000 per tonne in 2018 to around..