Published by: Jarosław Adamowski
Investments to rise Poland’s copper and silver miner KGHM has unveiled plans to invest a total of PLN 15 billion ($3.9 billion) by 2021. This is to allow the group to significantly increase its production capacities in the Polish and foreign markets.
Among others, the company is aiming to raise the production of the mine in Sierra Gorda, Chile, to some 70,000 tonnes per year. The mine operates on copper-molybdenum deposits , and it is a joint venture of KGHM International Ltd, with a 55% stake, Sumitomo Metal Mining, with 31.5% of the shares, and Sumitomo Corporation, with a stake of 13.5%.
“The main aim of the strategy is to achieve an EBITDA of the capital group at the level of PLN 7 billion in 2021,” KGHM said in a filing to the Warsaw Stock Exchange (WSE).