The Polish mining company KGHM is actively evaluating investment opportunities in copper deposits located in Europe and Morocco. This strategic move aims to secure a more reliable mineral supply closer to its smelting facilities in Poland while simultaneously reducing logistical costs. Remigiusz Paszkiewicz, the CEO of KGHM, shared these insights during an interview in Santiago, highlighting the company's commitment to optimizing its operations.
Paszkiewicz elaborated that the company is keen on acquiring resources situated at a shorter distance from its metallurgical plants. This proximity would not only enhance transportation efficiency but also bolster the overall performance of its value chain. "Morocco is a promising option. There is also at least one opportunity in Europe. We are currently reviewing the deposit's chemistry," stated Paszkiewicz, who refrained from disclosing the specific asset under consideration.
This strategic assessment follows KGHM's recent signing of a memorandum of understanding with the National Office of Hydrocarbons and Mines of Morocco (ONHYM) and the mining firm Managem Group. The purpose of this collaboration is to foster advancements in raw materials sourcing. According to the CEO, KGHM has already dispatched a team of geologists to Morocco and anticipates receiving a preliminary report within the coming weeks. The potential project not only aims to supply KGHM but also aspires to contribute to the global concentrates market, a sector where the company seeks to remain active.
In 2025, KGHM reported a production of 710,000 tons of copper, with just over half originating from its own concentrates. Currently, the company operates in Poland and holds significant international assets, including the Robinson mine in the United States and a 55% stake in Sierra Gorda in Chile. Furthermore, KGHM is assessing additional opportunities in Chile and Argentina while maintaining its commitment to invest in its operations in Poland.
The executive also hinted that the new corporate strategy, expected to be unveiled by the end of the quarter, may include adjustments to its metallurgical structure. Among these considerations is the potential evolution of the Legnica smelter towards a role more focused on recycling, while the Glogow facility would remain the company’s main smelting operation.
Additionally, KGHM is exploring the possibility of expanding its production chain in the United States, although this does not necessarily imply the construction of a new smelter. The focus on acquiring assets closer to processing centers reflects a growing trend within the global mining industry, where logistical efficiency, supply security, and cost optimization are becoming increasingly important in light of more complex and expensive projects.
As reported by reporteminero.cl.
