KGHM launches commercial production at Sierra Gorda

Polish state-controlled company and one of the world's largest copper producers KGHM has started commercial production at Sierra Gorda mine located in Chile, a press release read. The copper plant has been operating for over sixty days at 65% of its designed capacity. It has been fully handed over to the operating personnel, with all major expenditures incurred to bring the mine to the condition necessary for commercial production. At the same time,  the molybdenum plant has produced concentrate with at least 40% of metals content. Starting in July, Sierra Gorda mine will be drawing reports on net profits or losses related to its activity. Sierra Gorda is a joint venture of KGHM (55 percent stake) and Japanese Sumimoto (45 percent stake). The mine was launched a year ago, its copper and molybdenum deposits are one of the richest in the world.