State Treasury questions KGHM's investment in Chile

Poland's State Treasury wants copper and silver miner KGHM to diversify its business and is has doubts about its venture in Chile, Sierra Gorda, the Polish Press Agency  (PAP) reported. Dawid Jackiewicz, the minister of the State Treasury told PAP that KGHM's new supervisory board, which is to be appointed on January 18, will analyze the company's operations, including looking into its project in Chile. "I expect the supervisory board to review the foreign investments carried out by KGHM, particularly the one in Chile, assessing its validity, because we have some doubts," he pointed out. Sierra Gorda is a joint venture of KGHM (55 percent stake) and Japanese Sumimoto (45 percent stake), that is why the Polish miner will "make all of the decisions alongside Sumimoto," Herbert Wirth, the CEO at KGHM said. The mine was launched over a year ago, its copper and molybdenum disposals are one of the richest in the world.