KGHM commission criticizes Congo project

A special commission created by the supervisory board of copper and silver giant KGHM Polska Miedź has negatively assessed the company's investment in Congo, but did not propose any solution. "The project did not even have a business plan and many procedural mistakes were made," said one of the commission members, adding that the commission made no suggestions on whether to continue the project, as "The management was appointed in order to take strategic decisions." In March, president of KGHM Stanisław Speczik presented the supervisory board with possible solutions to the cost-incurring Congo project, expecting the board to choose one of the options. Among them were either quitting Congo or processing the ore itself, which would require buying another similar deposit, or finally, finding a partner to process it. (Rzeczpospolita, p. B2) M.M.