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Copper giant KGHM signs credit deal

PR dla Zagranicy
Nick Hodge 14.07.2014 13:32
Poland's state-controlled copper giant KGHM has signed a 5-year credit deal worth 2.5 billion dollars with a group of international and Polish lenders.
Photo: KGHMPhoto: KGHM

photo: KGHM (press materials)

The lending syndicate takes in European, Canadian, US and Japanese banks, including Credit Agricole Corporate and Investment Bank, the Royal Bank of Scotland and the Bank of Tokyo-Mitsubishi.

KGHM, which is the second biggest copper producer in Europe, aims to use the money to invest in both upgrades of its facilities as well as new projects.

According to KGHM, 60 percent of the sum received will be funnelled into projects within Poland itself.

Meanwhile, the company is continuing to spread its wings abroad, with production due to be launched at a facility in Chile this summer.

KGHM is also active in the USA, Canada and Germany.(nh)

Source: PAP/Reuters

tags: copper, KGHM
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