KGHM with PLN 4 bln contract

KGHM Polska Miedź  has singed a deal with cable producer Tele-Fonika Kable to sell copper in the period 2016-2018, with the possibility to prolong the contract for the next two years. The total value of the deal is estimated at PLN 3.91-4.25 billion in the first three year. The agreement will come into force, providing Tele-Fonika Cables will obtain the necessary funds, but not earlier than on January 1, 2016. In case it fails to do so the agreement will expire on June 30, 2016.