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Colin Bennett

Poland's KGHM bids $3.5 billion for Quadra - 0 views

  • The Canadian base metals producer with offices in Toronto and Vancouver said it has agreed to have all its outstanding shares and warrants acquired by KGHM Polska Miedź  S.A. (KGHM) for $3.5 billion. Quadra FNX has operating mines in Ontario, Arizona, Nevada and Chile, where the company is also developing the Sierra Gorda copper-molybdenum mine.
Colin Bennett

KGHM, Vale sign deal to develop Victoria project - 0 views

  • KGHM International, a fully owned subsidiary of KGHM Polska Miedź, has signed an agreement with Vale Canada for the development of the Victoria project as well as the ore off-take to the mining company’s processing facilities in Sudbury, Canada.
Colin Bennett

KGHM to buy 5% of Tauron for $121m - 0 views

  • Europe's No.2 copper miner KGHM KGHM.WA will buy 5 percent of Polish utility Tauron for 400 million zlotys ($121 million) in its initial public offering and may seek more on the market, KGHM said on Wednesday.
Susanna Keung

Poland - KGHM posted Q2 net profit up 2% - 0 views

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    KGHM, Europe's second largest copper producer, reported financial results for the second quarter ended 30 June 2009. The company announced revenue for the second quarter was PLN2.7b (US$935m), 10% lower than the same period a year ago. Operating profit for the quarter was PLN969m (US$335m), versus PLN1.0b (US$346m) for the same period in 2008. Net profit for the second quarter was PLN845m (US$293m), 2% higher than the same period in the previous year. Poland-based KGHM's main products are copper cathode, copper wirerod and copper round billets.
Colin Bennett

KGHM confirms 2009 net profit of 2.5bn zlotys - 0 views

  • Europe's No.2 copper producer KGHM (KGHM.WA: Quote) closed 2009 with a net profit of 2.5 billion zlotys ($843 million), in line with its guidance, raised last week as a rebound in copper prices capped KGHM's profit decline.
Colin Bennett

KGHM buys stake in Canadian miner - 0 views

  • KGHM (KGHM.WA), Europe's No.2 copper producer, agreed to buy a stake in a Canadian-based mining company, moving forward with plans to lessen its reliance on domestic deposits, its chief executive said on Friday.
Colin Bennett

KGHM plans to spend $2bn on takeovers from now to 2014 - 0 views

  • Europe's second largest copper miner KGHM KGHM.WA has earmarked 6 billion zlotys ($2 billion) for takeovers until 2014, chief executive Herbert Wirth said on Wednesday. KGHM, which announced a joint-venture with Abacus Mining and Exploration (AME.V) worth $37 million on Tuesday, was eyeing more projects in Canada. "We are preparing more projects. We are deeply interested in Canada," Wirth told a news conference.
Colin Bennett

KGHM almost triples Q1 profits - 0 views

  • The group forecasts its 2011 net profit to rise to around 8.4 billion zlotys, nearly double its 2010 earnings, boosted by income from planned sales of KGHM telecom assets Dialog and Polkomtel.
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    "The group forecasts its 2011 net profit to rise to around 8.4 billion zlotys, nearly double its 2010 earnings, boosted by income from planned sales of KGHM telecom assets Dialog and Polkomtel."
Colin Bennett

KGHM 2010 copper production to exceed 502,000 tonnes - 0 views

  • Polish miner KGHM (KGHM.WA: Quote) Europe's No. 2 copper producer, expects to boost 2010 production above the 502,000 tonnes forecast for this year, its chief executive said on Tuesday.
Colin Bennett

KGHM plans to produce 1m tpy of copper by 2020 - 0 views

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    "Poland-based miner KGHM Polska Miedz is aiming to reach annual production of 1 million tonnes of copper from its own resources by 2020, which would make it the seventh-largest producer of the red metal in the world. "
Colin Bennett

KGHM completes seawater pipeline for its Sierra Gorda copper mine in Chile - 0 views

  • KGHM became the majority holder in Sierra Gorda shortly after buying Canada’s Quadra FNX Mining Ltd. in 2012. The $3 billion acquisition is expected to generate 220,000 tons of copper a year.
Colin Bennett

Stronger sales give big boost to KGHM - 0 views

  • Rising copper prices helped KGHM (KGHM.WA), Europe's No.2 copper producer, beat expectations by almost doubling second-quarter net profit, with the market now waiting for the Polish company to upgrade full-year goals
Colin Bennett

KGHM considering buying another copper deposit in Canada - 0 views

  • Europe's No. 2 copper producer KGHM.WA is considering buying another copper deposit in Canada as it continues to look to expand beyond its domestic production, its chief executive said on Thursday.
Panos Kotseras

Europe - Copper producers favoured by copper price increases - 0 views

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    Positive expectations for copper producers have been generated by the recent increases in copper prices that reached US$4,725/t on the LME on 17th April. In Germany, copper smelter Aurubis expects that backed by rising prices the company will achieve oparating profits in the current fiscal year. Due to writedowns, the group suffered net losses in Q1 2009. In Poland, copper miner KGHM said that higher than expected prices may support the company to surpass its forecast. As a result, the company is updating its budget assumptions.
Colin Bennett

KGHM Might Raise Annual Copper Output to 800,000 Tons - 0 views

  • Polish copper producer, may increase annual output more than planned, to 800,000 metric tons, if it buys one of the mining companies it’s monitoring for possible acquisition, Dziennik Gazeta Prawna said, citing an unidentified person familiar with the matter.
Colin Bennett

Polish copper group moves to slash costs - 0 views

  • Copper prices are heading higher but KGHM, Poland’s state-controlled copper miner, fears that the good times will not last and is slashing costs, which make it one of the world’s most expensive producers. Last year’s economic crisis “was an argument to change and fix the company”, Herbert Wirth, chief executive, told the Financial Times.
Colin Bennett

KGHM looks to buy copper miners - 0 views

  • “For a mining company, the only way to add value is to buy new assets,” he said.
James Wright

China - Slow down in Chinese copper demand affects short to mid term copper price outlook - 0 views

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    KGHM, a Polish copper producer, expects demand for copper will be largely affected by China. The company anticipates that long term copper prices will be strong; however, the short to medium term outlook is impacted by China's tighter monetary policy.
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