Profil:
KGHM Polska Miedź SAKGHM copper begins work on cost optimisation plan
The management board of listed copper producer KGHM is starting work on the preparation and implementation of a cost optimisation plan aimed at increasing the company's investment capacity in the coming years, the company said in a press release. Management's priority is to further improve the efficiency of core business processes and optimise them from a cost perspective.
"As a board, we are obliged to continuously seek opportunities for both efficiency and cost optimisation. The current macroeconomic conditions, copper price levels and ongoing discussions on a possible change in the copper tax formula, create favourable conditions for the intensification of investment activities," said KGHM's CEO Andrzej Szydlo, quoted in the press release.
"Our goal is to increase the long-term resource base of domestic assets, which are the future of KGHM," he added.
The group wants to focus on increasing its labour efficiency.
"In terms of employment, we will focus primarily on increasing labour efficiency, rather than on cost issues, which are currently being addressed," Szydlo said.
The company will focus on improving efficiency through business process optimisation and development investments. The first phase of the review will cover areas including purchasing, technology, waste recovery, water management and others to be identified in the near term.
ao/ nl/