KGHM to sell TD and lower production costs as part of five-year strategy

The management of copper concern KGHM, yesterday presented the company's next five year strategy to the supervisory board. "We envisage a decrease in capital engagement in Telefonia Dialog (TD) and consolidation of the operator with other corporations. After this, we will consider selling all our share in TD," said Stanislaw Speczik, KGHM president. He added that KGHM is not interested in losing its shares in the Polkomtel mobile operator. Currently KGHM owns 100% of TD and a 19.6% stake in Polkomtel. The copper giant, over the next five years wants to concentrate on lowering the costs of mining copper and silver. On the international stage, three scenarios are possible, one of which is the formation of a joint venture with another company in the sector, which specializes exploring new resources. KGHM is also considering a purchase of a documented copper deposit, or an existing mine. (Parkiet, p. 3) A.K.