KGHM Plans International Expansion Amid Rising Copper Demand
EU’s Top Copper Miner KGHM Eyes Takeovers as Global Energy Shift Spurs Demand for Red Metal

Image: Financial Post
KGHM Polska Miedz SA, the EU's largest copper producer, is looking to expand its operations in Europe and Africa while exploring acquisition opportunities in the Americas. The company's CEO, Remigiusz Paszkiewicz, emphasizes that the global shift towards cleaner technologies is driving increased demand for copper, particularly in China.
- 01KGHM's stock has surged 180% since the beginning of last year, benefiting from high copper prices and the energy boom.
- 02The company aims to increase its annual production by 100,000 tons through new investments, particularly in Morocco.
- 03KGHM's international assets generated nearly 50% of the company's earnings before interest, taxes, depreciation, and amortization last year.
- 04The firm is evaluating potential acquisition targets in Chile, Argentina, the US, and Canada.
- 05KGHM's C1 cash costs at its Sierra Gorda mine in Chile were 47% lower than in Poland during the first quarter.
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KGHM Polska Miedz SA, the largest copper producer in the European Union, is strategically planning to expand its operations internationally in response to the rising demand for copper driven by the global shift toward cleaner technologies. Chief Executive Officer Remigiusz Paszkiewicz highlighted the company's intent to enhance its presence in Europe and Africa while also considering acquisitions in the Americas, particularly in Chile, Argentina, the United States, and Canada. The firm aims to increase its annual production by 100,000 tons through these efforts, particularly focusing on investments in Morocco. KGHM's stock has seen a remarkable 180% increase since last year, fueled by high copper prices and the overall energy boom. The company's international assets have proven profitable, contributing nearly 50% of its earnings before interest, taxes, depreciation, and amortization, despite only accounting for 20% of its total volumes. With the extraction tax in Poland being a concern, the company is keen on securing long-term, stable supplies to minimize costs and enhance operational efficiency.
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KGHM's expansion plans could lead to increased job opportunities and economic benefits in the regions where it invests, particularly in Morocco and potential sites in the Americas.
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