KGHM Polska Miedź

KGHM Polska Miedź S.A.
Spółka Akcyjna
Traded as WSE: KGH
WIG30 Component
Industry Metals, Mining, Metallurgy
Founded 1961
Headquarters Lubin, Poland
Area served
 Worldwide
Key people
 Radosław Domagalski-Łabędzki
(President and CEO)
Dominik Hunek
(Chairman)
Michał Czarnik
(Vice Chairman)
Products Copper, Copper sulphate, Gold, Silver, Nickel, Nickel sulphate, Molybdenum, Rhenium, Lead, Sulphuric acid, Selenium, Platinum
Revenue Decrease €4.378 billion (2016)[1]
Decrease €-802 million (2016)[1]
Decrease €-1 billion (2016)[1]
Total assets Decrease €7.559 billion (2016)[1]
Total equity Decrease €3.596 billion (2016)[1]
Number of employees
 33,370 (2016)[2]
Subsidiaries KGHM International Ltd (100%)[3]
Sierra Gorda SCM (55%)[4]
Website KGHM Corporate Website

KGHM Polska Miedź S.A. (Kombinat Górniczo-Hutniczy Miedzi), commonly known as KGHM, is a Polish multinational corporation that employs near 34,000 people around the world and has been a leader in copper and silver production for more than 50 years. In 1991, the company was established as a state enterprise and since 1997, their shares have been traded on the Warsaw Stock Exchange.[5][6] Currently, KGHM operates 9 open-pit and underground mines located in Poland, Canada, the USA and Chile and is actively advancing 4 projects. KGHM produces key global resources including copper, copper sulphate, gold, silver, nickel, nickel sulphate, molybdenum, rhenium, lead, sulphuric acid, selenium and platinum group metals. The company is based in Lower Silesian Voivodeship in Lubin, Poland. The business strategy for the years 2015–2020 focuses on continuing growth and maximizing shareholder value with a goal to produce over one million tonnes of copper equivalent metal.[7]

In 2011, the company was awarded with the Fray International Sustainability Award in Mexico, for its achievements and investments towards sustainable development.[8]

Smelting and refining

KGHM owns three copper smelters: "Głogów", "Legnica", and "Cedynia".[9] KGHM's smelters also produce lead, refined lead, sulphuric acid, nickel sulphate, and platinum-palladium concentrate.

Projects under development

KGHM International

KGHM International Ltd. is a wholly owned subsidiary of KGHM Polska Miedź.

Robinson Mine

The Robinson Mine is located in Nevada. It is an open pit mine that produces copper with byproduct gold and molybdenum. It was KGHM International's most profitable mine, pulling in a net revenue of $532.9 million in 2012.

Carlota Mine

The Carlota Mine is located in Arizona. Like the Robinson mine, it is an open pit mine and produces copper. It is scheduled to close in 2013, despite operating through multiple court challenges.[14] Its net revenue for 2012 was $84.1 million.

Franke Mine

The Franke Mine is located in northern Chile. It is also an open pit mine and produces copper. Its net revenue for 2012 was $152.5 million. KGHM International is blending Franke pit with a partnered China mine, with less mining being focused on Franke.[15]

References

  1. 1 2 3 4 5 "POLISH FINANCIAL SUPERVISION AUTHORITY : Consolidated annual report RS 2016" (PDF). Kghm.com. Retrieved 2017-07-14.
  2. ↑ "Our employees | KGHM Corporate Website". Kghm.com. Retrieved 2017-07-14.
  3. ↑ "Capital Group | KGHM Corporate Website". Kghm.com. Retrieved 2017-07-14.
  4. ↑ "Sierra Gorda SCM - Owners". Sgscm.cl. Retrieved 2017-07-14.
  5. ↑ "Stock card - KGHM | KGH | PLKGHM000017". GPW.pl. Retrieved 2017-07-14.
  6. ↑ "Statut KGHM Polska Miedź Spółka Akcyjna z siedzibą w Lubinie". Gpw.pl. Retrieved 2017-07-14.
  7. ↑ "Strategy of KGHM Polska Miedź S.A. for the years 2017-2021 | KGHM Corporate Website". Kghm.com. Retrieved 2017-07-14.
  8. ↑ "Herbert Wirth accepts Fray International Sustainability Award in Mexico on behalf of KGHM". www.flogen.org. FLOGEN Star OUTREACH.
  9. ↑ "Smelting and refining | KGHM Corporate Website". Kghm.com. Retrieved 2017-07-14.
  10. ↑ "Deep Głogów | KGHM Corporate Website". Kghm.com. Retrieved 2017-07-14.
  11. ↑ "Victoria | KGHM Corporate Website". Kghm.com. Retrieved 2017-07-14.
  12. ↑ "Ajax Project - KGHM International - Project Information". Ajaxmine.ca. 2014-06-20. Retrieved 2017-07-14.
  13. ↑ "Sierra Gorda mine officially inaugurated in Chile | KGHM Corporate Website". Kghm.com. 2014-10-20. Retrieved 2017-07-14.
  14. ↑ Rodriguez, Salvador (2012-05-02). "A Carlota Mine timeline – Green Valley News: State News". Gvnews.com. Retrieved 2014-02-25.
  15. ↑ "Podolsky Mine closing". Sudbury Star. 2013-01-10. Retrieved 2014-02-25.
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