KGHM, a leading global copper producer, has released its preliminary production and sales results for March, indicating a downturn in several key commodities. The group reported that copper sales fell by 5% year-over-year to 62.9 thousand tonnes, while payable copper production also declined by 2%, reaching 61.7 thousand tonnes.
The company experienced a similar trend in its silver operations, with production of payable silver down by 2% to 127.8 tonnes. More notably, silver sales saw a significant drop of 21% compared to the same period last year, totaling 114.7 tonnes.
Total Precious Metals (TPM) production remained stable at 15.9 thousand troy ounces, matching the production levels of March 2023. However, sales of TPM were 13% lower year-over-year, at 14.7 thousand troy ounces.
Molybdenum production saw a substantial decrease, falling 71% to 190 thousand pounds from March 2023 figures. Sales of molybdenum also plummeted, down 67% to 100 thousand pounds.
