Polish company KGHM More small projects can be sold, after two mines are put up for sale in United StateThe vice president in charge of foreign assets, Paul Groza, said it intends to focus on larger assets.
The company, which is one of the world’s largest copper and silver producers, plans to sell the Carlota mine in the United States and Chilean Franke.
“The process will probably be completed soon. The second one may take longer. I think that will be possible next year,” he told Reuters.
“This process (sales of assets) will continue and may be prolonged. The decision to sell more assets has not yet been taken, but there are mines whose size does not match KGHM’s ambitions. “The focus should be on medium and large projects,” he added.
Gruza has stated that the company has no plans to sell the Robinson mine in the US or the Sierra Gorda in the Chile.
“There is always the option to sell this project, but we continue to see the improvement potential of the Sierra Gorda. In other words, we see opportunities to continue to increase the value of this investment in KGHM Books.”
In October, Japanese companies Sumitomo Metal Mining Co Ltd and Sumitomo Corp agreed to sell their stakes in Sierra Gorda to Australian mining company South32 Ltd.
“I think the development plans for Sierra Gorda will not change significantly just by the entry of a new investor,” Groza added.