KGHM to invest PLN 27 billion
16:01
WSE-listed KGHM, one of the largest copper producers in the world, is planning to spend PLN 27 billion by 2020 under the company's new strategy.
“This is the biggest investment program in our 60-year-long history,” said Herbert Wirth, CEO of the company.
The board claims that the financing is already secured. As much as 65 percent of the sum is earmarked for development, while the remaining part for asset maintenance. “Innovation plays a key role in the strategy. We have a vision of mining sites without human workers in danger zones,” Wirth added.
The KGHM board also informed that it expects its EBITDA to amount to nearly PLN 9 billion by 2020. The company wants to increase copper extraction to 1 million tons, compared with 700,000 tons currently.
