Poland's KGHM says Chilean mine ready to operate in June-report

Mon Jun 23, 2014 1:54am EDT
 
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WARSAW, June 23 (Reuters) - Polish miner KGHM, Europe's No.2 copper producer, said its $4 billion Sierra Gorda mine in Chile will start operating in June as planned and the international arm of the company will become the main driving force of the group within five years.

Sierra Gorda is one of the world's largest copper projects.

"That's correct, the end of June is a planned date of commissioning the mine. Today I can say that it will be met," KGHM's Chief Executive Officer Herbert Wirth told Bloomberg Businessweek weekly.

Wirth added that KGHM International, the state-controlled miner's foreign asset arm, should be listed on a market, which understands the specifics of commodities.

"In summary, if this would be a small IPO project, then it should be Toronto. If a larger one, then London," Wirth said in the article. (Reporting by Marcin Goclowski; Editing by Matt Driskill)