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The Financial Times reports that Poland’s KGHM, Europe’s second largest copper producer by output, aims to buy three other copper producers this year – two in Canada and one in South America – as it seeks to drive down production costs.
The Financial Times reports that Poland’s KGHM, Europe’s second largest copper producer by output, aims to buy three other copper producers this year – two in Canada and one in South America – as it seeks to drive down production costs.
The news item is quoted as saying:
KGHM plans to invest 9bn zlotys ($3.1bn) this year with about 7.5bn zlotys being used to buy copper producers, Herbert Wirth, chief executive, told the Financial Times.
“For a mining company, the only way to add value is to buy new assets,” he said.
Talks with all three potential targets were advanced.