Locked content Mennica Polska to purchase stake in gold mine

Poland’s and Europe’s leading coin and numismat producer Mennica Polska is going to acquire a 40 percent stake in one of South African gold mines, its CEO Grzegorz Zembrzycki told ISBnews agency. “The mine belongs to a private owner. It is operating and does not require any new inv...

Locked content PBG to build a mine for PGNiG

PBG oil and gas has signed a deal with PGNiG to construct Radoszyn mine, the ISBnews agency reported, citing a press release. The investment is valued at PLN 85.2 million. PGB will develop a natural gas field and oil deposit area, it will be in charge of the entire paperwork, application for constru...

Locked content Tauron to build mineshaft for nearly PLN 600 mln

Major Polish power utility Tauron will construct a new mineshaft in Sobieski mine, the investment is valued at PLN 580 million. The mineshaft is to be delivered in 2022, the media reported. “We have been looking for a general constructor. We estimate that the new mineshaft, called ‘Grzeg...

Locked content Brussels to be sceptical about Polish mining reform

The European Commission may not approve Poland’s plan for restructing mines, according to wysokienapiecie.pl anonymous sources in Brussels. According to the EU regulations, the mines have to be shut down in order to gain public financial aid. In addition, the support may reach only PLN 400 mil...

Locked content KGHM looking into extracting new types of metal

State-controlled mining giant KGHM, one of the largest producers of copper and silver in the world, will look into the possibility of extracting new types of metals from its domestic deposits, daily Parkiet reported. The company processes polymetallic ore to extract mainly copper, gold and silver, w...

Locked content KGHM’s profit grows in Q3

Copper and silver mining giant KGHM recorded a consolidated net profit of PLN 678 million in the third quarter of 2014, 30.9 percent higher than in Q3 2013. Analysts polled by the Polish Press Agency expected a net profit of PLN 658.1 million. The company’s operating profit stood at PLN 1.07 billion...

Sierra Gorda commercial launch delayed

Commercial production at the Sierra Gorda copper mine in Chile, managed by Polish KGHM and Japanese Sumitomo, will be delayed by two or three months, Yoshiaki Nakazato, CEO Sumitomo Metal Mining, was quoted as saying by the Polish Press Agency.