January 11, 2013 / 6:25 AM / 5 years ago

Poland's KGHM to publish new long-term strategy in Q2 - paper

WARSAW, Jan 11 (Reuters) - Europe’s No.2 copper producer KGHM wants to publish its new long-term strategy in the second quarter, with the plan including the miner’s new energy policy and acquisitions, KGHM’s deputy chief was quoted on Friday.

Dorota Wloch told daily Parkiet that the focus would be put on putting a cap on the state-controlled group’s energy consumption costs and seeking copper projects in an early development stage.

“We are thinking about what company do we want to become in the longer term,” Dorota Wloch told daily Parkiet. “I think that in the strategy we’ll show plans until 2020... a realistic date (for publication) is the second quarter.”

The current strategy at the state-controlled miner runs out in 2018, with the pinacle being its last-year C$3 billion ($3.0 billion) purchase of the Canadian Quadra FNX, now renamed KGHM International.

Wloch added that now the group would soon provide investment details for its key Sierra Gorda copper project in Chile, as well as publish its guidance for this year in February. She refused to go into much detail over the figures.

“The copper and mining market as well as the copper prices do not indicate that this should be an exceptionally tough year,” she said.

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