KGHM reverses plan to integrate copper mines and mills
KGHM Polska Miedz (KGHM) abandoned the idea of jointly managing three copper mines and three copper mills. The plan for integration of the units, which was to cost about zl. 60 million, has been dropped because of "low public acceptance". The proposed merger incited protests from Copper Industry Employees Trade Unions (ZZPPM) afraid of possible layoffs. Still, according to KGHM spokesman Jerzy Pietrasiak, ZZPPM's opinion had no effect on the board's decision. KGHM said it has others ways of cutting
spending but would not make those plans public however, the firm will not dispose of its subsidiaries. In the first half of 2000, KGHM recorded the lowest production costs ever - $1,341 per tonne and will now produce 478,000 tonnes of copper before the end of the year, 10,000 tonnes more
than last year. (Rzeczpospolita, page B2)
spending but would not make those plans public however, the firm will not dispose of its subsidiaries. In the first half of 2000, KGHM recorded the lowest production costs ever - $1,341 per tonne and will now produce 478,000 tonnes of copper before the end of the year, 10,000 tonnes more
than last year. (Rzeczpospolita, page B2)
