Poland's KGHM Eyes Global Expansion After Record Results, Seeking New Deposits Abroad

Polish mining group KGHM has posted record financial results and is charting an ambitious course for international expansion, according to company president Remigiusz Paszkiewicz. He revealed that the company is actively searching for new mineral deposits abroad, with Morocco emerging as a key target.

Paszkiewicz emphasized the long-term nature of the mining industry, stating that decisions made today dictate a company's future production capacity. With Polish deposits becoming deeper, more challenging, and costly to exploit, KGHM views foreign exploration as crucial for securing future raw material supplies. "In mining, decisions made today determine whether in 10, 15, or 20 years the company will have anything to produce from," Paszkiewicz told WNP.

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W górnictwie decyzje podejmowane dzisiaj przesądzają o tym, czy za 10, 15 czy 20 lat firma będzie miała z czego produkować. Kopalni nie zbuduje się w 5 lat, a polskie złoże jest coraz głębsze, trudniejsze i droższe w eksploatacji.

Morocco has undergone preliminary geological assessments, showing promising signs, though further data is required before applying for an exploration concession. Beyond Morocco, KGHM is also evaluating potential acquisitions in the United States, identifying at least two targets. Additionally, the company is in discussions with global mining giant BHP in Chile regarding potential cooperation in ore processing and the Spence mine, which neighbors KGHM's Sierra Gorda operation.

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Nasi specjaliści byli już na miejscu, mamy wstępne rozpoznanie geologiczne i wiele elementów wygląda obiecująco. Potrzebujemy jednak jeszcze dodatkowych danych. Dopiero na tej podstawie będziemy mogli wystąpić o koncesję eksploracyjną i dokładniej zbadać ten projekt