April 18, 2013 / 9:36 AM / 5 years ago

KGHM CEO stands by 2013 targets despite copper slump

KRAKOW, Poland, April 18 (Reuters) - Europe’s No.2 copper producer KGHM has no plans to revise its full-year targets despite falling metal prices, Chief Executive Herbert Wirth told Reuters on Thursday.

“We do not plan to change our budgetary estimates or revise our forecast for 2013, as the first quarter as we expect was in-line with our expectations,” Wirth told Reuters.

“What’s happening on the copper market is an adjustment after previous growth. We are calmly watching the situation,” he added. “One has to remember about hegding and that still margins on silver are interesting for us.”

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