KGHM gets loan from EIB

Poland's copper and silver mining giant KGHM has obtained a loan worth PLN 2 billion from the European Investment Bank, the company said in a news release on Friday. The funds will be used to finance the modernization of the company's smelting segment and for the development of the Żelazny Most tailings pond, KGHM said. The agreement will be in force for 12 years. The loan will be available for 22 months. It may be obtained in up to seven tranches, worth PLN 300 million or more each.