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Copper production payable from KGHM decreased 4% YoY to 62K. Tons in April –

Copper production payable by the capital group KGHM Polska Miedź amounted to 629 thousand tons. tons in April 2022 compared to 64.7 expected to be. The company said, citing preliminary data.

“Payable copper production was 62 thousand. tons – a decrease from April 2021 of 2.7 thousand. tons (-4%) mainly due to lower copper content in the ore processed at the Sierra Gorda mine. Copper production by KGHM Polska Miedź SA was at A level similar to that achieved in April last year, while KGHM International Ltd. increased by 9% compared to April 2021.” – We read in the announcement.

Silver production payable was 86 tons, 35.7 tons (-29%) lower year-on-year due to planned technology renewal in the precious metals division of the Głogów Copper Smelter.

The production of TPM reached 15.8 thousand. The Trojan was higher by 1.1 thousand. troz (+7%) YoY due to processing of ore with higher gold content and higher yield of this metal at Robinson Mine, also indicated.

Molybdenum production was 0.1 million pounds, 0.8 million pounds (-89%) less than in April 2021. The significant decrease in production was determined by the planned exploitation of mining areas (Sierra Gorda) with a lower content of this element compared to the situation in 2021.

In January-April, the outstanding copper production amounted to 255.2 thousand tons. tons compared to 250,2 thousand. tons a year ago.

We further read “In January-April 2022, production of all major minerals in the capital group was above the budgeted level.”

KGHM Polska Miedź has a wide range of exploration, development and production projects in Poland, Germany, Canada, Chile and the USA. The company has been listed in WSE since 1997. In 2021, it had 29.8 billion PLN of consolidated revenue.

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Source: ISBnews