KGHM Silver Production Falls Due to Maintenance, Copper Output Rises in August

KGHM, the Polish mining group, reported a 43% decline in payable silver production in August, with output reaching 75.1 tonnes due to a maintenance shutdown at its precious metals plant. Silver sales also fell, amounting to 85.1 tonnes, down 34% year-on-year.

Despite the drop in silver production, KGHM’s copper operations performed strongly. Payable copper production increased by 8% year-on-year to 63,400 tonnes, while copper sales rose by 8% to 59,400 tonnes during the same period.

Production of total precious metals (TPM) also decreased, falling 28% year-on-year to 9,800 troy ounces. However, TPM sales saw a 35% increase, reaching 18,900 troy ounces.

KGHM reported a 33% year-on-year rise in molybdenum production, totaling 400,000 pounds. However, molybdenum sales dropped by 33%, reaching 200,000 pounds compared to August 2023.