KGHM Reports Mixed Results in September Production and Sales

Polish mining giant KGHM reported mixed results for its production and sales in September 2024, according to a market filing on its preliminary figures. The company's copper sales reached 65,600 tonnes, representing an 8% year-on-year increase, while payable copper production rose by 3% to 61,400 tonnes.

Silver production experienced a decline, with payable silver output totaling 113.0 tonnes, down by 11% compared to the same period last year. In contrast, silver sales increased by 11% year-on-year, reaching 115.5 tonnes.

Total precious metals (TPM) production for the group stood at 16,200 troy ounces, reflecting a 7% increase from the prior year period. However, TPM sales dropped by 25%, totaling 13,300 troy ounces compared to the same period last year.

Molybdenum production remained stable, with 400,000 pounds produced, unchanged from the previous year. On the other hand, molybdenum sales fell by 25%, reaching 300,000 pounds compared to September 2023.