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KGHM is 'committed' to Chile, says CEO

KGHM Polska Miedz SA CEO Radoslaw Domagalski-Labedzki said the company remains committed to Chile despite an ongoing review of its international copper assets, Reuters reported April 5.

At an industry conference in Santiago, Chile, Domagalski-Labedzki said the company was committed to the country for the long term, even as it continued to evaluate the future of its Canadian assets in British Columbia and Ontario.

The company is still awaiting the environmental permit for a project in Ajax, British Columbia, which faced protests.

The Polish state-run copper miner sunk to losses in 2015 and 2016, mostly linked to Sierra Gorda, following a sharp decline in copper prices. The downturn led to KGHM placing all of its overseas assets under review.

KGHM began its international expansion in 2011, acquiring Chilean and Canadian copper assets through its purchase of Quadra FNX.

Meanwhile, Domagalski-Labedzki said the company has yet to decide on a dividend, which will be decided by the board in May.