KGHM Polska Miedź S.A. is one of Poland's largest companies, employing about 28,000 staff and earning gross revenues over US$ 3 billion in 2010. KGHM operates three mines, Lubin, Rudna and Polkowice-Sierszowice, that produced 426 thousand metric tons of copper and 1200 metric tons of silver in 2010, making it one of the largest copper and silver producers in the world.
Financial Summary (2010):
- Revenue: PLN 7.199 billion*
- Operating Profit: PLN 2.797 billion
- Total Assets: PLN 16.976 billion
- Stock Symbol: KGH (Warsaw)
*All values in Polish zloty (PLN)
History:
Founded as a state-owned enterprise in 1961 as Kombinat Górniczo-Hutniczy Miedzi (Copper Smelting-Mining Combine), KGHM beginnings are directly related to the discovery of the large copper deposit in the Lubin and Polkowice region of Poland.
During the 1960s and 1970s, the company expanded and came to encompass all related mining, smelting and refining activities. Official production began at the Lubin mine in 1968, the Polkowice mine in 1968, the Rudna mine in 1974 and the Sieroszowice mine in 1986. In 1996 the Polkowice and Sieroszowice mines were joined.
In September of 1991, the company was transformed into a state-owned, joint stock company (KGHM Polska Miedź S.A.) and shares in the company have been traded on the Warsaw Stock Exchange since 1997.
Today, KGHM Polska Miedź is made up of roughly 30 entitites
Operations:
KGHM is composed of 10 main divisions:
- The Lubin Mine:
- The Rudna Mine:
- The Polkowice-Sieroszowice mine
- The Głogów smelter and refinery
- The Legnica smelter and refinery
- The Cedynia wire rod plant
- The Ore Enrichment Plants division
- The Tailings Management division
- The Emergency Mine-Smelter Rescue Services division
- The Data Processing Center
Products:
KGHM is the world's second largest producer of refined silver and among the world's top ten refined copper producers.
A London Metal Exchange registered copper producer, KGHM produces copper cathode, as well as wire rod and round billets. Total copper production has been stable for several years at around 500-550 thousand metric tons per annum. The company's primary copper markets are Germany, France, the Czech Republic and China.
Silver is refined and sold in the form of bullion and granulate. The main markets for KGHM's 1200 metric tons of annual silver production are the UK, Germany and Belgium. KGHM's silver bullion is registered under the KGHM HG brand by the London Bullion Market Association and the Dubai Multi Commodities Centre.
Other by-products resulting from its mining operations include:
Head Office:
KGHM Polska Miedź S.A.
ul. M. Skłodowskiej-Curie 48
59-301 Lubin
tel. +48 76 74 78 200
fax + 48 76 74 78 500
Website: www.kghm.pl
