Key Developments: KGHM Polska Miedz SA (KGHPF.PK)
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7 Mar 2013
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Latest Key Developments (Source: Significant Developments)
Mostostal Zabrze Holding SA Signs Framework Agreement with KGHM Polska Miedz SA
Mostostal Zabrze Holding SA announced that on May 20, 2013 it signed a framework agreement with KGHM Polska Miedz SA for the installation of a furnace in the Glogow I Copper Foundry. The minimum value of works is estimated at PLN 50 million net. The realization period is between 2013 and 2015. Full Article
KGHM Polska Miedz SA Recommends FY 2012 Dividend
KGHM Polska Miedz SA announced that its Management Board will recommend the Company's Ordinary General Assembly to pay a fiscal year 2012 dividend of PLN 1,600,000 or PLN 8 per share. This is lower than the last dividend payment for fiscal year 2011 of PLN 28.34 per share. The dividend record date would be July 12, 2013 and the recommended dividend would be paid in two parts of PLN 4 per share on August 14, 2013 and PLN 4 per share on November 14, 2013. Full Article
KGHM Polska Miedz SA Plans to Distribute 30% of Its Profit for FY 2012 Dividend-Reuters
Reuters reported that KGHM Polska Miedz SA plans to recommend distribution of 30% of its profit for the 2012 fiscal year dividend payment, which is PLN 1.46 billion in total. The Company's share capital is comprised of 200 million shares. Full Article
PGE Polska Grupa Energetyczna SA, Polskie Gornictwo Naftowe i Gazownictwo SA, KGHM Polska Miedz SA, TAURON Polska Energia SA, and ENEA SA Extend Negotiations Term of Shale Gas Agreement
PGE Polska Grupa Energetyczna SA announced that it and Polskie Gornictwo Naftowe i Gazownictwo SA, KGHM Polska Miedz SA, TAURON Polska Energia SA, and ENEA SA have signed an annex no 2 to the frame agreement on exploration and extraction of shale gas dated as of July 4, 2012. According to the annex the negotiations term has been extended until May 4, 2013. Full Article
KGHM Polska Miedz SA Issues FY 2013 Revenue, Net Profit and EBITDA Guidance Below Analysts’ Estimates
KGHM Polska Miedz SA announced that for the fiscal year 2013 it expects to report revenue of PLN 18.930 billion, net profit of PLN 3.204 billion and EBITDA of PLN 5.337 billion. The guidance takes under consideration the tax on the extraction of certain minerals, costs of copper and copper in concentrate production and worsening macroeconomic conditions. According to I/B/E/ Estimates, analysts on average are expecting the Company to report the 2013 fiscal year revenue of PLN 23,625.49 million, net profit of PLN 4,151.35 million and EBITDA of PLN 7,170.68 million. Full Article
KGHM Polska Miedz SA Signs Contract with Prysmian Metals Limited
KGHM Polska Miedz SA (KGHM) announced that on January 31, 2013 the Company signed a contract with Prysmian Metals Limited for the sale of copper rod in 2013 and 2014. The value of the contract has been estimated at between PLN 2,382,290,324.00 and PLN 2,864,555,769.00. Full Article
KGHM Polska Miedz SA Signs Contract with MKM Mansfelder Kupfer und Messing GmbH
KGHM Polska Miedz SA (KGHM) announced that on January 28, 2013 the Company signed a contract with MKM Mansfelder Kupfer und Messing GmbH for the sale of copper cathodes in 2013. The value of the contract has been estimated at PLN 1,523,904,174.29. As a result of entering into a contract, the total estimated value of contracts signed between KGHM and MKM Mansfelder Kupfer und Messing GmbH over the last 12 months amounts to PLN 3,497,408,303.16. The contract of the highest value was signed on January 30, 2012 (PLN 1,823,724,144.03). Full Article
KGHM Polska Miedz SA Signs Contract with HSBC Bank USA N.A., London Branch
KGHM Polska Miedz SA (KGHM) announced that on January 21, 2013 a contract was entered into between KGHM and HSBC Bank USA N.A., London Branch for silver sales in 2013. The estimated value of the contract is PLN 1,672,260,469.66. As a result of entering into this contract, the total estimated value of contracts entered into between KGHM and HSBC Bank USA N.A., London Branch over the last 12 months exceeded 10% of the equity of the Company and amounts to PLN 3,654,120,061.59. The highest-value contract signed during this period is the above-mentioned contract. Full Article
KGHM Polska Miedz SA and Other Parties Update on Letter of Intent Regarding Construction and Operation of Nuclear Power Plant
KGHM Polska Miedz SA announced that the Company and other parties, which signed a letter of intent regarding the acquisition of shares of the special purpose entity responsible for construction and operation of nuclear power plant, have extended the term of the letter of intent until March 31, 2013. The letter of intent was signed on September 5, 2012. Full Article
KGHM Polska Miedz SA Bids for Kazakh Exploration Licence-Reuters
Reuters reported that KGHM Polska Miedz SA (KGHM) has applied for an exploration licence in Kazakhstan to help it reach its long-flagged target of 700,000 tons of annual copper output by 2018. KGHM has placed a bid for a copper and other metals exploration concession in Kazakhstan, chief executive Mr. Herbert Wirth told reporters. The site contains also gold and silver deposits, he added. Mr. Wirth's deputy Ms. Dorota Wloch said the tender should be decided in a matter of a few months. Full Article
CESCO-Poland's KGHM seeks acquisitions every two-three years
SANTIAGO, April 10 - Poland-based KGHM, Europe's No. 2 copper producer, is looking to make acquisitions every two to three years as it pushes ahead with a plan to transform itself into a top producer of the metal, Chief Executive Herbert Wirth said on Wednesday.
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