KGHM to take PLN 311.9 mln hit on asset impairments

WSE-listed copper and silver giant KGHM will take a PLN 311.9 million hit to its consolidated results for 2017, following impairments to valuations of selected foreign assets, the company said in a market filing. On its Canadian Sudbury project, KGHM will book a PLN 411.8 million impairment loss, while the Ajax assets will take a PLN 222.8 million hit. Furthermore, the US project Robinson will reverse its previous impairment of PLN 322.7 million. “There was no basis to change the carrying amounts of the rest of the international mining assets,” KGHM added.