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2010-2011 Billionth tonne of ore by a global player

Billionth tonne of ore by a global player
Billionth tonne of ore by a global player

The recent history of KGHM is marked by two important dates. On 17 September 2010 the Company’s possibilities and potential were demonstrated by the processing on this date of the billionth tonne of copper ore by the Ore Enrichment Plants Division of KGHM. The extraction and processing of a billion tonnes of ore is thanks to the successful close cooperation of the Company’s miners and metallurgists.

The ore processed by the OED was used to produce approx. 68 million tonnes of concentrate containing approx. 15 million tonnes of copper and over 36 thousand tonnes of silver. To give an dea of the scale of this, imagine 20 million railway cars carrying 50 tonnes apiece, with a total length of 214 thousand kilometers, long enough to circle the earth over 5 times or be dumped into 142 piles, each the size of the Great Pyramid of Cheops on the Giza Plateau in Egypt.

The fundamental vision of the Company’s development, adopted in 2009 in the Strategy for the years 2009–2018, is to become one of the world’s leading copper producers with annual production of around 700 thousand tonnes of copper.

6 December 2011 – this is a date in the history of KGHM which will undoubtedly bring the Company closer to achieving its development goals set forth in the Strategy. It was on this day that KGHM Polska Miedź S.A. signed an agreement with Quadra FNX Mining Ltd. with its registered head office in Vancouver, Canada, marking the beginning of the friendly takeover of this company. The conclusion of the transaction occured on 5 March 2012. The name and logo of the acquired company were changed to KGHM INTERNATIONAL LTD.

The core business of this Canada-based company is the mining of metal ores (including copper, nickel, gold and platinum/palladium) from assets in the USA, Chile and Canada. KGHM INTERNATIONAL LTD. also has several greenfield projects: Sierra Gorda in Chile (the major development project being pursued at one of the world’s largest deposits of copper and molybdenum), Victoria in Canada and Malmbjerg in Greenland, among others.

Thanks to the acquisition of this Canada-based company, KGHM’s production in 2012 will increase by nearly 25%, i.e. 100 thousand tonnes of mined copper, with a target for 2018 of over 180 thousand tonnes annually. Also thanks to this transaction, the Company’s total resource base increased to over 8 million tonnes of copper, putting KGHM in fourth place globally. The international expansion of KGHM has become a fact, and has initiated a new era of growth for the Company. KGHM as a result has become a global player on the non-ferrous metals market.

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