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Net result for KGHM in the fourth quarter of Poland is 1.56 billion zlotys

Net result for KGHM in the fourth quarter of Poland is 1.56 billion zlotys

KGHM Polska Miedz, Poland's largest copper miner, posted a net income of 1,56 billion zlotys (US$402,11 million) in the fourth quarter of last year compared with a loss of 4,53 billion zlotys a previous year.

The adjusted EBITDA for the full year 2024 rose from 5.36 billion to 8.46 billion.

The group revenue for the fourth-quarter rose by more than 17%, to 9,18 billion zlotys. This was primarily due to higher prices of silver, gold, and copper.

In a press release, CEO Andrzej szydlo stated that while production was similar year-on-year the cost of materials, fuels, and energy carriers had been reduced. He added that the company will continue to work in this field.

The group will allocate 3,80 billion zlotys for capital expenditures on plants, equipment and property this year. This is slightly less than the 3,94 billion zlotys that were spent in 2024.

KGHM anticipates producing 392,300 metric tonnes of concentrate and selling 572,900 metric tones of payable copper this year.

(source: Reuters)