Locked content KGHM launches impairment tests for foreign units

WSE-listed copper and silver giant KGHM launched impairment tests for some of its key foreign assets. “As a result of reviewing the technical and economic assumptions of key international mining assets belonging to the KGHM, there has been a significant change in the parameters for a part of these a...

Locked content KGHM doesn’t secure environmental approval for Canadian project

British Colombia authorities announced that they will not be issuing an environmental certificate for its Ajax copper and gold mine, owned by WSE-listed KGHM. British Columbia said on Thursday the adverse effects of the project would outweigh any benefit. The province’s decision follows a seven-year...

Locked content KGHM gets PLN 900 mln loan from EIB

WSE-listed, state-run copper and silver miner KGHM got a PLN 900 million loan from the European Investment Bank, the company said in a market filing. The company plans to use the funds for increasing production efficiency, the company said in a press statement. “The funds obtained from the EIB will ...

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...