KGHM to discuss new contracts

Copper conglomerate KGHM will discuss new contracts and exploration of copper deposits in China with its partner China Minmetals Corporation at the end of November. KGHM's President, Mirosław Krutin told Parkiet that the company's directors will visit China Minmetals Corporation to sign trading deals for another year. "We will also discuss future cooperation, including the possibilities of exploring [copper] deposits," he added.

The firm has been talking about purchasing foreign deposits for years, however due to high licensing costs it was discouraged. It also announced last month it wanted to explore for copper in Laos and was looking for partners to jointly buy a mine in Chile and Peru. "There is no single area that we are looking at in particular. We have to watch the market as possibilities of purchasing deposits for a reasonable price might show up," Krutin said.

Sources: Parkiet, Reuters