— There is a lot to do in the KGHM group, in particular to improve its subsidiaries. In my opinion, this will be the focus of the new president, who – I hope – will be elected in the competition by the end of February, said Wojciech Balczun, Minister of State Assets.
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Supervisory board of KGHM canceled on January 30 this year. Andrzej Szydło from the position of president and Piotr Stryczek from the position of vice-president for corporate affairs, and delegated Remigiusz Paszkiewicz, member of the supervisory board, to the management board.
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The company announced competitions for the positions of president and vice-president for corporate affairs. Candidates' applications will be accepted until February 16, and interviews will take place on February 24.
As the minister informed, he expects the new management board to complete work on the strategy of the KGHM group.
— KGHM has a lot to do on the Polish market. The group is facing huge investments in new deposits for at least the next dozen or so years, which will require huge investment outlays. Exploitation of copper deposits and derivatives is difficult in our reality due to great depths, but we know that we need to focus on it. Copper has good prospects – even in the United States it has been included on the list of strategic raw materials – said Balczun.
— We are also looking at KGHM's foreign assets. It is clear that both in the Chilean Sierra Gorda and in the Canadian-American project, efficiency and results can be significantly improved. We are also looking in other directions because we believe that KGHM can continue to invest abroad, but in a rational, economically justified and well-thought-out way – added the minister.
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The KGHM Polska Miedź Group is among the ten largest producers of mining copper in the world and is the second largest producer of silver. It has mining assets (mines of copper ore and associated elements such as silver, molybdenum, nickel, gold and other metals) located in Poland, the USA, Chile and Canada, as well as copper smelters in Poland. The largest shareholder of KGHM Polska Miedź is the State Treasury, which owns 31.79 percent. company shares.
