June 21, 2017 / 12:17 PM / 4 months ago

Poland's KGHM CEO says Q2 Sierra Gorda copper production stable

LUBIN, Poland, June 21 (Reuters) - Copper output at Poland KGHM’s Sierra Golda mine in Chile was stable in the second quarter, compared to the first three months of the year, KGHM’s Chief Executive Officer Radoslaw Domagalski-Labedzki said on Wednesday.

“Copper production (at the mine) is certainly stable,” Domagalski-Labedzki told journalists. “Something exceptional would have to happen for the production to decline,” he said, adding KGHM does not plan to exit the Sierra Gorda project.

Domagalski-Labedzki also said that the current rate of the Polish zloty currency to the dollar of around 3.80-3.90 zloty per dollar is still very beneficial for the company’s finances.

He also added that current copper price of $5,700 per tonne is really good for the firm, Europe’s second-largest copper miner. He said he does not expect any negative developments on the commodities market that would impact the price much.

Reporting by Wojciech Zurawski; Writing by Lidia Kelly; Editing by Marcin Goettig

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