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KGHM Polska Miedź SAKGHM copper focuses on optimising foreign assets; too early to talk about ownership changes
Listed copper and silver producer KGHM is focusing on optimising its foreign assets; believes it is too early for discussions about ownership changes in these assets, according to statements made by management representatives at a press conference following the release of group's financial report for the first half of 2025.
When asked whether ownership changes in foreign assets were being considered, KGHM CEO Andrzej Szydlo replied: "Whenever there are two shareholders in a project, as in the case of the Sierra Gorda mine, cooperation is the best possible model".
"We have such contacts, including with Graham Kerry, CEO of South32, and it would be strange if we did not share our views with him and consider whether the level of shares is optimal. However, we agree with the CEO on one thing - first of all, such a discussion is always risky, and secondly, it is always premature, because as long as the asset is not optimal, as long as there are still some problems, the valuation of this asset is so difficult that it makes no sense to talk about it," CEO Szydlo added.
He continued that the management follows a certain pattern - at first, it optimises the results (which, according to the CEO, has been successful so far and looks promising).
"Talks about possible changes are a distant prospect, if at all," KGHM's CEO stressed.
The group's deputy CEO for foreign assets Anna Sobieraj-Kozakiewicz pointed out that the output results of foreign assets are good and stable.
"As far as Sierra Gorda is concerned, temporary problems with molybdenum production have been resolved in some way, and we are seeing a trend towards catching up on production. Since June this year, production has been in line with the budget, and we are optimistic about the future implementation of the budget," she reported.
"As for the Robinson mine, we are currently exploiting the Liberty deposit, and here too, production is at a good, stable level," the deputy CEO added.
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