KGHM Mining News

Poland’s KGHM hits production record, expects Sierra Gorda to exceed target

Europe's second-largest copper producer also posted its best quarterly results in the last three years, with revenue rising by PLN 1.2 billion (about $312 million).

Polish parliament’s lower house approves 15% cut to copper tax

If rubber-stamped by the senate, the move would give state-run KGHM a bit more room to breathe, as the miner has been struggling with rising costs, falling copper prices, technical problems and higher-than-expected capital spending in the past years.

Copper producer KGHM may freeze more mines in Canada, US – CEO

KGHM's foreign assets have struggled with rising costs, falling copper prices, technical problems and higher-than-expected capital spending.

Sierra Gorda union agrees deal with KGHM to avert Chile copper mine strike

The union threatened strike action in mid-March.

Union at KGHM's Sierra Gorda copper mine extends contract talks

The union intends to vote on a new contract proposal by Thursday and deliver their decision to management on Friday.

Miner KGHM extends negotiations with union at Chilean copper mine

The company had until the end of Tuesday to request government mediation to help reach a deal with the union of 520 workers.

Workers could strike at Chile's Sierra Gorda copper mine – union

A union at the Sierra Gorda copper mine, controlled by Polish mining company KGHM, could go on strike this week after rejecting the latest offer in contract negotiations.

Polish Audit Office blasts KGHM acquisition of Chilean copper mine

The body, which looks into the way the Polish state operates and how it spends public funds, says the company has spent more than $5.2B in three years on the underperforming Sierra Gorda mine.

Last missing miner rescued from Polish mine after tremor

Miner missing in Rudna mine is alive!

A further eight miners rescued from Polish mine after tremor

Originally 14 were missing, but some were rescued within several hours of the tremor.

Poland's KGHM expects 2019 average copper price at $6,100-6,300/t

"We refer to lower end of copper price range forecast by analysts and we assume an average copper price at $6,100-$6,300 per tonne."

Poland's KGHM focused on balance sheet, not dividends

KGHM will deliver updated strategy by year-end and it has no plans to sell foreign assets.

KGHM to go ahead with $2bn expansion of Sierra Gorda copper mine in Chile

Expansion and upgrades would extend the mine’s life by 21 years.

Poland's KGHM plans domestic investment of more than $3 bln by 2022

The company also said it plans to reduce investment in oversees assets and focus on domestic operations.

Chile copper mine Sierra Gorda closes following fatal accident

Roberto Venegasa, an employee of equipment supply firm Finning, died during routine maintenance work at the mine, the company said.

Polish miner KGHM's first-quarter profit down 38 pct on sales decline

Net profit for the first three months of the year stood at 439 million zlotys ($121.08 million), compared with the 453 million zlotys expected by analysts.

Poland's KGHM expects to match or exceed 2017 profit this year

The CEO also forecast that the copper price will exceed $7,000 by the end of this year, as analysts at Bank of China expect.

Poland's KGHM says Q1 copper sales fall 12 pct yr-on-yr

KGHM also said in a statement that silver sales fell in the same quarter by 16 percent to 212.6 tonnes.

Poland's KGHM targets rise in Chilean copper ore output

The miner expects daily copper ore output at its Chilean mine Sierra Gorda to increase by 18% next year from current levels.

Polish copper producer KGHM cuts 2017 investment and output targets

The state-run firm also said that this year's output of electrolytic copper from its own concentrates will be 35,000 tonnes than the planned 401,000 tonnes due to an accident at its smelter.

Poland's KGHM chief sees high copper prices boosting earnings this year

"I think that the third-quarter results will confirm that the full-year EBITDA will be higher than last year," says KGHM CEO Radoslaw Domagalski-Labedzki

KGHM says phase two of Sierra Gorda copper mine in Chile will never happen

The Polish company, Europe's second-largest copper producer, said that given current macro conditions the plan had lost sense.

Environmental review panel nixes proposed Ajax mine

A prospective copper-gold mine in south-central British Columbia has been handed a setback by local First Nations who oppose the project.

Poland copper mine cave-in claims two lives

The accident happened at the Polkowice-Sieroszowice mine when part of a ceiling collapsed.

KGHM delays expansion of flagship mine in Chile, shares jump

Shares in Europe's second-largest copper producer jumped as much as 4.7% on Monday after posting earnings at overseas units that helped the Polish miner beat analysts estimates for the first-quarter profit.