Polish copper giant KGHM shares best financial result in a decade

Poland’s KGHM copper and silver mining corporation recorded its best financial results in a decade in H1 2021 despite the on-going COVID-19 pandemic, according to a company report.

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“The net financial result at PLN 3.7 bn (EUR 822 mln) was five times higher than the one recorded in H1 2020,” the company reported on Tuesday.

“KGHM closed H1 2021 with EBITDA which was twofold higher, and revenue increases of over PLN 3.5 bn (EUR 777 mln),” KGHM Polska Miedź (Polish Copper) CEO Marcin Chludziński said.

The production of payable copper grew in H1 by 8.6 percent year on year to 381,000 tonnes in the KGHM Group, and by 4.4 percent to 293,000 tonnes in KGHM Polska Miedź.

KGHM (Kombinat Górniczo-Hutniczy Miedzi) is a Polish multinational corporation based in Lubin, south-western Poland, employing about 34,000 people worldwide. It is one of the world’s largest copper producers. It also produces other metals like silver, gold, molybdenum, rhenium, lead, sulphuric acid, copper sulphate, nickel sulphate and technical selenium.

KGHM operates nine open-pit and underground mines in Poland, Canada, Chile and the US.