KGHM officially launches Chilean mine
PR dla Zagranicy
Poland's biggest copper producer is inaugurating a flagship foreign project on Wednesday.
KGHM, one of the biggest companies in Poland and a major world silver and copper producer, is holding an official launch ceremony of its Sierra Gorda mine. The unit will be named after Ignacy Domeyko, a Polish geologist, mineralogist and traveller, who spent most of his life in Chile.
The facility is co-owned by the Polish group along with Japanese Sumitomo, which has a 45 percent stake in the joint venture.
Sierra Gorda has already been operating as part of a ramp-up period since July 30. This initial stage of production is due to be completed in early 2015.
When the mine reaches its full production capacity, it will be able to provide some 120,000 tonnes of copper, 50 million pounds of molybdenum and 60,000 ounces of gold annually.
The joint venture partners plan to expand the facility in the future. When the second phase is completed, annual production capacity should reach 220,000 tonnes of copper, 25 million pounds of molybdenum and 64,000 ounces of gold.
The mine is expected to be in operation for 23 years.
KGHM has said that the investment into Sierra Gorda so far amounts to more than 4 billion US dollars. (kw)