Locked content KGHM signs PLN 900 mln loan deal with EIB

WSE-listed silver and copper giant KGHM approved a PLN 900 million loan from the European Investment Bank. “The funds acquired through this loan will be used to finance the investment projects being advanced by the Company, which are aimed at modernizing the production line as well as at adapting cu...

Locked content KGHM Q3 profit drops

WSE-listed copper and silver giant KGHM posted a PLN 604 million net profit in Q2, down by 63 percent y/y. Revenues amounted to PLN 4.77 billion, up from PLN 4.68 billion last year. EBITDA grew by 29.8 percent to PLN 1.41 billion. “”Despite the relatively small increase in revenue due to the n...

Locked content KGHM to loan PLN 900 mln from EIB

WSE-listed, state-controlled copper giant KGHM is planning to take a PLN 900 million unsecured loan from the European Investment Bank, the company said in a market filing, after agreeing on loan terms with the lender. The loan would be given in tranches in PLN, USD or EUR and would bear either a fix...

Locked content KGHM hopes for PLN 20 bln in revenues in 2017

WSE-listed, state-owned copper and silver giant KGHM may bring in PLN 20 billion in revenues this year, if the current prices of commodities, as well currency rates hold, company’s CEO Radosław  Domagalski-Łabędzki said. “If the good sentiment holds, that is copper and silver prices as well as...

Locked content KGHM Q2 profit falls

WSE-listed copper and silver giant KGHM posted a PLN 93 million net profit in Q2, down from PLN 135 million profit a year earlier. Revenues amounted to PLN 4.8 billion, up from PLN 4.44 billion last year. “Significant increases in revenues and operating results of the KGHM Group in the second quarte...

Locked content Sierra Gorda to be profitable in 3-4 years – KGHM CEO

WSE-listed, state-run copper and silver giant KGHM’s Chilean copper mine in Sierra Gorda could be profitable in 3-4 years, company’s CEO Radosław Domagalski said. “We have much better control of the Sierra Gorda project and can fully say we want to stay. There is a huge space for improvement within ...

Locked content PGNiG signs PLN 4.8 bln extension deal with KGHM

WSE-listed, state-owned gas giant PGNiG sign PLN 4.8 billion deal with another state-run company, copper and silver miner KGHM for gas delivery. The contracts guarantee KGHM gas supplies until October 1, 2033. The new framework deal replaces the five long-term contracts between companies and unifies...

Locked content KGHM to seek opportunities to sell services in China – CEO

WSE-listed, state-owned copper and silver giant KGHM is may look for opportunities to sell its services on the Chinese market, CEO Radosław Domagalski-Łabędzki said. “We are interested in the development of Polish-Chinese cooperation, and the Chinese market is one of our most important markets. Our ...

Locked content KGHM expects positive financial flows from Sierra Gorda in 2-3 years

WSE-listed copper and silver giant KGHM expects that its Chilean Sierra Gorda mine will be generating positive financial flows within the next 2-3 years, company’s CEO Radosław Domagalski-Łabędzki said. The CEO assured that the development abroad would remain an element of the company’s strate...

Locked content KGHM changes Sierra Gorda financing to corporate credit

WSE-listed, state-owned copper and silver giant KGHM has changed the financing model of its Chilean mine in Sierra Gorda to corporate credit from project finance, KGHM said in a market filing. “The nature of the financing will significantly decrease the limitations and duties of Sierra Gorda and in ...