KGHM Set to Launch Production of Investment-Grade Gold and Silver Bars by Late 2024
KGHM, a major copper producer, is preparing to launch the production of cast gold and silver bars at its "Glogow" Copper Smelter, with sales expected to begin between the third and fourth quarters of 2024. Piotr Krzyzewski, KGHM's deputy CFO, announced during an investor chat that the company is currently focused on establishing the necessary infrastructure, including appropriate machinery and distribution channels, to meet the requirements of the investment market for individual clients.
The new technology will enable KGHM to produce smaller bars with consistent weight and packaging, catering to the needs of individual investors. The company is also working on finalizing its sales strategy for these products, signaling a significant step into the precious metals investment market.
In addition to the gold and silver bar production, Krzyzewski expressed optimism about the long-term demand for copper, despite acknowledging short-term fluctuations in the supply and demand balance due to varying production levels and economic conditions. He highlighted the anticipated global shortage of copper production as demand continues to grow, reinforcing KGHM's positive outlook for the future.
