MINEX Forum

Tag: Sierra Gorda Chile

  • KGHM Eyes Morocco, Argentina, Canada and US Acquisitions as Overseas Assets Already Generating Half of Core Profit

    KGHM Eyes Morocco, Argentina, Canada and US Acquisitions as Overseas Assets Already Generating Half of Core Profit

    Polish state-controlled copper and silver producer KGHM is actively exploring acquisition opportunities across Morocco, Argentina, Canada and the United States as part of its new Strategy 2055+ plan, CEO Remigiusz Paszkiewicz confirmed, with the company’s existing overseas operations already accounting for approximately 48% of core profit in 2025.

    “Over the next five to ten years we are focusing on raw material diversification, seeking access to critical metals, developing and building new revenue sources that strengthen our resilience to copper and silver market fluctuations,” Paszkiewicz said.

    The international profit contribution is driven by KGHM’s 55%-owned Sierra Gorda copper mine in Chile and the Robinson mine in Nevada. The company’s development pipeline includes the Victoria and Ajax projects in Canada and the Sierra Gorda Oxides project in Chile, providing a foundation for further Americas expansion.

    KGHM also plans to expand the global reach of its contracting subsidiary DMC Mining Services to secure new mining contracts internationally, adding a services revenue stream alongside its producing and development asset base.

    The international push complements KGHM’s domestic ambitions, which include building a new “KGHM 2.0” mine in Poland and committing more than 32 billion zlotys in investment through 2030 targeting 730,000 tonnes of annual copper output.

  • KGHM Sets 32 Billion Zloty Investment Strategy Through 2030 Targeting 730,000 Tonnes Copper and New “KGHM 2.0” Polish Mine

    KGHM Sets 32 Billion Zloty Investment Strategy Through 2030 Targeting 730,000 Tonnes Copper and New “KGHM 2.0” Polish Mine

    Polish state-controlled copper and silver producer KGHM has unveiled its Strategy 2055+ plan committing more than 32 billion zlotys ($8.55 billion) in investment through the end of the decade, with targets for copper output of 730,000 tonnes, silver production of 1,290 tonnes and average annual adjusted EBITDA of 12 billion zlotys between 2026 and 2030.

    The strategy centres on securing ore supplies closer to KGHM’s Polish smelters to reduce logistics costs, with approximately 80% of planned copper output expected to come from domestic assets. Chief Executive Remigiusz Paszkiewicz said the company plans to build a new mine in Poland dubbed “KGHM 2.0,” with an ambition to transform the group into “a modern, multi-raw material industrial group” after 2035.

    Nearly 80% of planned investment will go to the core Polish business, with the remainder allocated to overseas assets in Chile, the US and Canada. Despite the domestic focus, KGHM’s foreign operations — led by the Sierra Gorda mine in Chile, in which the company holds a 55% stake, and the Robinson mine in Nevada — generated approximately 48% of group EBITDA in 2025. Deputy Chief Executive for foreign assets Anna Sobieraj-Kozakiewicz said the company intends to grow the contribution of overseas assets over time. “We want the position of our foreign assets to grow, because this builds the company’s global credibility and resilience to structural changes,” she said.

    KGHM’s strategy coincides with its recent letter of intent with Canada’s Lumina Metals for copper concentrate supply from the Nowa Sól project in Poland, which the company views as a processing opportunity for its Glogow smelter rather than a competitive threat.