KGHM signs PLN 900 mln loan deal with EIB

WSE-listed silver and copper giant KGHM approved a PLN 900 million loan from the European Investment Bank. “The funds acquired through this loan will be used to finance the investment projects being advanced by the Company, which are aimed at modernizing the production line as well as at adapting current processes to variable mining conditions, increasing effectiveness, maintaining production continuity and implementing solutions concerning environmental issues,” the company said in a market filing. The agreement will be valid for 12 years, and the loan will be available for a period of 22 months from the date of signing. The loan will be utilized to a maximum of 4 installments, each of which in the minimum amount of PLN 225 million.