Aug 14 (Reuters) - Katanga Mining Ltd KAT.TO
* Katanga Mining provides update on independent directors' review and restatement of certain financial statements
* Katanga Mining-independent directors concluded co's consolidated financial statements for years ended dec 31, 2016, 2015, 2014 should not be relied upon
* Katanga Mining - based on results of review, co expects total equity as at january 1, 2015 will be reduced by about $90 million
* Katanga Mining-independent directors recommended board that co's audited consolidated financial statements for yrs ended dec 31, 2016, 2015 should be restated
* Katanga Mining - as result of review, expects net loss for year ended dec. 31, 2015 to be reduced by about $55 million less related income taxes of about $21 million
* Katanga Mining-independent directors recommended board that unaudited interim financial statements for quarter ended march 31, 2017, 2016 should be restated
* company currently expects to effect all refilings, in conjunction with its external auditor, by mid-september, 2017
* Katanga mining-has established blackout on trading by directors, officers, certain other insiders of co, intends to continue blackout until Q2 filings