KGHM, Hutmen enter into lucrative agreement

One of Poland’s biggest manufacturers of copper rods and piping has signed an agreement with copper mining company KGHM worth PLN 229 million, according to a press release by Hutmen on Wednesday. Under the terms of the contract, KGHM will supply 11,000 tons of copper, annually, to Hutmen for its production – with an option to extend the amount to 20,000 tons. The agreement was concluded for the period January 1st, 2017 to December 31st, 2018. Both entities have the right to extend the duration of the contract by one year – up to 2019 – if they choose to do so. “The agreement was considered significant because its implementation has a significant influence on the running of Hutmen’s production, as well as because of its intrinsic value. The contract was concluded within the framework of long-term cooperation with KGHM for the supply of raw material for Hutmen,” read part of the release. In addition to mining copper, KGHM also mines a significant amount of silver, and has a broad portfolio of international projects in exploration, development and production. Metal-producer Hutmen belongs to Boryszew Group, which is an international group within the automotive sector that has 8,000 employees in Poland.