Poland's KGHM books YOY rise in FY'20 copper production

Polish miner KGHM Polska Miedź Spółka Akcyjna reported payable copper production of 709,200 tonnes in full year 2020, increasing 1% from 701,600 tonnes in 2019.

Payable silver production declined to 1,350.5 tonnes from 1,414.8 tonnes, and total precious metals production fell to 194,300 troy ounces from 220,100 troy ounces. Molybdenum output slid to 9.4 million pounds from 12.0 million pounds, according to preliminary figures released Jan. 26.

Full-year 2020 copper sales grew 3% to 715,300 tonnes from 691,900 tonnes, silver sales slipped to 1,404.7 tonnes from 1,412.0 tonnes, total precious metals sales were down to 203,400 troy ounces from 211,200 troy ounces, and molybdenum sales fell to 10.0 million pounds from 12.6 million pounds.

In a separate Jan. 28 release, KGHM outlined its production guidance for full year 2021. Output at the KGHM Polska Miedz mine in Poland was estimated at 390,000 tonnes of copper in concentrate, 1,200 tonnes of silver in concentrate, 573,000 tonnes of electrolytic copper and 1,197 tonnes of metallic silver. The company expects sales to reach 566,000 tonnes of payable copper and 1,165 tonnes of payable silver.

The company forecast 2021 production of 74,000 tonnes of payable copper and 54,000 troy ounces of total precious metals at its KGHM International operation in Ontario.

Production at the Sierra Gorda mine in Chile, on a 55% basis, was projected at 99,000 tonnes of payable copper and 7 million pounds of molybdenum.