Sierra Gorda will change the owner? President of KGHM: discussions about premature changes

The KGHM group focuses on optimizing foreign assets. Discussions about ownership changes in these assets are premature – the representatives of the board informed at a press conference.

President of KGHM Andrzej Szydło, asked if ownership changes in foreign assets are being considered, he replied: “Whenever there are two shareholders of a project, as in the case of the Sierra Gorda mine, the best possible model is cooperation. Such contacts we have, also with the president (South32 – note PAP Biznes) Graham Kerry and it would be strange if we did not share the views with him, and if The shares are optimal.

“We optimize first, we make the best act, If we ever start the purchase discussion somedaywhether sales or changes in the proportion of shares. (…) The order is this: we optimize the results, which is successful so far and I am convinced that it will succeed, and conversations about possible changes are a long perspective, if at all ” – he added.

Anna Sobieraj-Kozakiewicz, vice president of foreign assets, indicated that the production results of foreign assets are good and stable.

“As for Sierra Gorda, temporary problems with the production of molybdenum have been somehow straightwe see a tendency to catch up on production. Since June this year, production is in line with the budget and we are optimistic, looking to the future at the implementation of the budget, “said the vice president.

“As for the Robinson mine, we are at the time of exploitation of the Liberty deposit and here the production is at a good, stable level” – added Sobieraj -Kozakiewicz.

What about investments? KGHM has no fear

KGHM is not afraid of implementing the investment plan for 2025- representatives of the board informed at a press conference.

“The implementation for the first half of the year is PLN 1.512 billion, 4 percent less than the implementation for the same period of last year, but the plan last year was PLN 4.1 billion, and now PLN 3.8 billion, or 8 percent lower. said vice president Zbigniew Bryja.

In the first half of 2025, KGHM Polska Miedź investment outlays amounted to PLN 1.5 billion and were 4 percent. lower compared to the same period a year earlier.

As stated, expenses in the area of mining reached the level of PLN 1.2 billion and covered, among others Program sharing of the deposit (PLN 418 million), replacement of the machine park (PLN 243 million), armament of mining regions (PLN 222 million), dehydration of mines (PLN 121 million), as well as the expansion of the Żelazny Most (PLN 63 million). In half of the year, the company made over 21 km of mining excavations.

Investments in the metallurgy area reached PLN 190 million.

KGHM plans to allocate PLN 3.8 billion for investments in 2025 (PAP Biznes)

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