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KGHM seeks $1.5bn external funding

February 09, 2012 - 10:39 GMT Location: London

KEYWORDS: copper , external financing , Quadra , aquisition , tax , KGHM

Polish copper producer KGHM Polska Miedz has approached a number of domestic and foreign banks to get access to external funding, a KGHM spokesman told Metal Bulletin on February 6.

KGHM, which doubled its net profit year-on-year to September 2011, will incur costs this year as a result of its acquisition plans in Canada, and a tax on copper and silver. KGHM’s spokesman did not wish to comment on which of these costs will be financed from the loan, or how much funding the miner will require. But an independent analyst said that, according to his information, KGHM was...

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