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The Warsaw Voice » Business » August 20, 2018
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"Strategic review" for copper giant
August 20, 2018   
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Sierra Gorda mine
Listed copper and silver producer KGHM is currently running a "strategic review" of the company and plans to announce its results as fast as possible, CEO Marcin Chludzinski told a conference.
„We are running a strategic review of the company, we will want to get back to the market as fast as possible with our observations," CEO said.
The review involves looking at the company's assets and strategic goals, including the strategic assumptions of KGHM's international projects and planned levels of extraction, he explained.
KGHM should easily meet its 2018 output and sales targets, as the group is recovering from a domestic stoppage and expects a boost from rising ore content at its unit in Chile, Chludzinski declared.
"After the stoppages related to maintenance works carried out in H1, we can easily catch up," the CEO said of a ramp-up after stoppage at KHGM's Polish smelter.
At the Chilean Sierra Gorda asset, copper content in ore is expected to increase in H2, thus helping the mine deliver on the annual plan, CEO added.
KGHM's plan for 2018 foresees copper concentrate output at 389,000 and electrolytic copper output 494,000, while annual payable copper sales are seen at 506.000 tons in the parent company.
The target for payable copper output at KGHM International is 82,000 tons, while the output target for the Chilean Sierra Gorda mine is 59,000 tons of copper.
In H1, payable copper output in Sierra Gorda hit 25,000 tons, or 42.4% of the amount budgeted for 2018.
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