KGHM Reports Mixed July Production and Sales Figures

KGHM Group released its preliminary production and sales results for July, revealing varied performance across different metals.

The company reported a 12% year-on-year decline in the production of payable silver, totaling 114.5 tonnes, a decrease of 15.4 tonnes compared to the same period last year. Silver sales also saw a drop, down 3% year-on-year to 127.1 tonnes, a reduction of 4.5 tonnes.

On the other hand, copper sales showed strong growth, with KGHM selling 59,600 tonnes in July, marking a 16% increase from the previous year. Payable copper production also rose by 7% year-on-year, reaching 61,400 tonnes.

In terms of total precious metals (TPM), production increased significantly by 36%, amounting to 16,600 troy ounces, a rise of 4,400 troy ounces compared to last year. However, TPM sales fell by 12% year-on-year, totaling 10,200 troy ounces, down by 1,400 troy ounces.

Molybdenum production faced a sharp decline, dropping 33% year-on-year to 200,000 pounds, a decrease of 100,000 pounds. Molybdenum sales were even more impacted, plummeting 67% to 100,000 pounds, down by 200,000 pounds from July 2023.