Locked content Kidoń appointed Managing Director of Sierra Gorda

Mining giant KGHM said Sierra Gorda board appointed Mirosław Kidoń as Managing Director as of July 1. Previously, he was the general manager of Ore Enrichment Plants in KGHM Polska Miedź S.A. The board also discussed plans to increase the average annual processing capacity of the Sierra Gorda mine s...

Locked content KGHM plans to increase production at Sierra Gorda

WSE-listed silver and copper giant KGHM expects daily copper ore output at its Chilean mine Sierra Gorda to increase by 18 percent next year from current levels to reach 130k metric tons. KGHM will also commission the copper concentrate roasting installation by the end of 2018, the firm said. Comple...

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 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 ...

Locked content KGHM abandons stage II Sierra Gorda development

WSE-listed copper and silver producer will not be seeking to continue the second phase of development of its Chilean Sierra Gorda copper mine. “In current macroeconomic situation, the further development of the mine has lost its purpose. It is not being considered at this moment,” KGHM CEO Radosław ...

Locked content KGHM committed to Chile for long-term – CEO

WSE-listed state-owned copper and silver giant KGHM will not abandon its Chilean investment in Sierra Gorda, despite a PLN 4.33 billion write-off on the project last year. “We want to be here. Our engagement in Chile is long term. Now we see real progress,” company’s CEO Radosław Domagalski-Ła...

Locked content KGHM with $1.242 bln in impairments against foreign assets

WSE-listed silver and copper producer KGHM will write $1.242 billion in impairments including tax impact against foreign assets, including $1.03 billion for its Chilean mining operations in Sierra Gorda, the firm said in a market filing. Besides the Chilean copper mine, the impairments include, comp...

Locked content KGHM to continue developing Sierra Gorda mine

WSE-listed copper and silver producer KGHM will continue the Chilean Sierra Gorda project, said acting Treasury Minister Henryk Kowalczyk. Currently, the company is analyzing three potential scenarios for the mine, but all of them assume the continuation of the project. According to Kowalczyk, the p...