(Kitco News) - Polish mining group KGHM, one of the world’s senior copper producers, today reported that its 9M 2022 payable copper production was slightly lower compared to the corresponding prior-year period and amounted to 557 thousand tonnes.
KGHM said it maintained stable copper production from its Polish assets (mined production 334.4 kt; metallurgical production 442.5 kt), adding that the company is continuing its key projects, such as the Deposit Access Program (sinking of the GG-1 shaft was completed).
The company noted that silver production by KGHM Polska Miedz S.A. rose by 1% to 1,022 tonnes compared to the first 9 months of 2021.
KGHM also reported that the company increased profit for the period by PLN 505 million (+11%) versus the first 9 months of 2021, mainly due to a higher result on exchange differences, alongside a lower result on the involvement in joint ventures and higher CIT.
“The continuing good conditions on the metals market led in turn to higher revenues earned by the KGHM Group (+18%) compared to the corresponding prior-year period, to PLN 25,696 million,” it added.
Importantly, KGHM pointed out it continues its involvement in developing nuclear, solar and wind power.
“KGHM is consistently advancing projects aimed at reducing CO2 emissions,” the company said.
Starting from 2023, 100% of the electricity purchased and consumed by the Sierra Gorda mine will come from renewable energy sources – a solar farm located in the Atacama Desert, it noted.
KGHM's mines and processing facilities located on three continents – Europe, the North and South America. With its control of over 38 million tonnes of copper ore resources worldwide, KGHM is recognized as one of a global mining industry leaders. The company's portfolio also includes new metals like molybdenum, palladium and nickel, which helped KGHM to join the international community of multi-resource companies.
