KGHM Reports Increase in Copper Sales and Production in November
Polish copper giant KGHM has reported a significant increase in its copper sales and production for November, according to a recent market filing.
Growth in Copper and Silver Sales
KGHM's copper sales in November reached 64.8k tonnes, marking a notable 6% increase compared to the same period last year. This surge aligns with the company's increased payable copper production, which rose from 59.1k tonnes last year to 60.5k tonnes this November.
Silver and TPM Production Surge
The company also saw a substantial rise in its silver production, reaching 107 tonnes - a 59% increase year-on-year. Silver sales similarly grew by 3%, totaling 99.4 tonnes. Total Precious Metals (TPM) production experienced a 21% boost, amounting to 16,500 troz, while sales of TPM surged by 64%, reaching 19,500 troz.
Molybdenum Production and Sales
KGHM's molybdenum production rose significantly to 0.4 million pounds, up from 0.1 million pounds in November 2022. However, molybdenum sales declined by 25% year-on-year, totaling 0.3 million pounds.
