KGHM's mine in Chile has not meet production targets

Sierra Gorda, a joint venture of Poland's copper miner KGHM and Japanese Sumitomo did not manage to meet its production targets that were set for 2015, according to KGHM CEO Herbert Wirth. "When it comes to copper, it was really close, but molybdenum is a greater challenge. Geological and technological factors influenced the situation," Wirth told the Polish Press Agency (PAP). According to the company's representatives, Sierra Gorda recorded an output of 60,000 tons of copper and eight million pounds of molybdenum. The mine was launched over a year ago, its copper and molybdenum disposals are one of the richest in the world. Recently, the Ministry of the State Treasury expressed doubts about the validity of the investment in Chile.