KGHM plans to sell its smaller mines outside Poland

WARSAW – Poland's KGHM, which is one of the world's biggest copper and silver producers, plans to sell its smaller mines outside Poland, including Carlota in the United States, company representatives said on Thursday. "We decided that the smaller mines do not fit in our portfolio. It seems that now is an ideal time to sell," Pawel Gruza, vice president in charge of foreign assets, told a news conference....

New capacity needed to meet rapid copper demand growth

Ample copper supplies next year and in 2023 will keep the market balanced, but miners need to start investing in new capacity now to meet a pick up in demand growth as economies switch to renewable energy. Copper prices at around $9,900 a tonne, close to the record $10,190 a tonne hit in February 2011, are significantly above levels needed for new projects and expansions to be profitable. Many projects were shelved after 2013 when prices fell below minimum profit thresholds. "For 2030/2031 we are looking at a supply gap...
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