KGHM eyes PLN 6bn capex in Poland to 2014 - CEO
February 12, 2013
KGHM copper firm is eyeing PLN 6 billion in the Polish capex in 2013-2014 and expects capex on its foreign projects to amount to PLN 20 billion by 2018, CEO Herbert Wirth told reporters.
The figure is higher than USD 1.65 billion (PLN 5.1 bln at the current exchange rate of USD/PLN 3.1) in capex indicated in a report by independent consultant Micon for the years 2013-2014.
"Capex on all foreign projects is over PLN 20 billion to 2018," Wirth said, adding that the figure includes capital spending already incurred.
The three major projects abroad are the launch of the Sierra Gorda mine in 2014 as well as the Canadian projects Victoria and Afton-Ajax in 2016.