Metals News
KGHM Sees 2010 Net Profit Rising to 2.9 Bln Zlotys
industry news
09:16AM
Feb 2,2010
Source:SMM

WARSAW, Feb 1 (Reuters) - KGHM, Europe's No. 2 copper producer, said on Monday it saw 2010 profit rising to 2.9 billion zlotys ($1.01 billion) from above 2.25 billion expected for 2009, on the back of booming copper prices.

KGHM said the forecast was based on the assumption that the average copper price this year would stand at $6,700 per tonne.

Among its plans for 2010, KGHM mentioned buying a foreign mining company, a move that has been mulled already before, and said it would spend 1.64 billion zlotys on capital expenditure. 
 

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