KGHM Reports Mixed Production and Sales Results for June

KGHM Group has announced its preliminary production and sales results for June, showing a significant increase in silver production and sales, but a decline in copper and other metals. Production of payable silver reached 125.4 tonnes, marking a 56% increase of 44.9 tonnes compared to the same period last year. Silver sales also saw a substantial rise, totaling 147.6 tonnes, up 40% or 42.5 tonnes year-on-year.

KGHM's copper sales amounted to 59,000 tonnes in June, a 9% decrease from the previous year. Payable copper production was slightly down by 1%, totaling 58,300 tonnes. TPM production reached 13,500 troy ounces, a 4% decrease from the prior year period. TPM sales were significantly lower at 17,200 troy ounces, down 26% or 6,000 troy ounces year-on-year.

Molybdenum production fell sharply by 33%, with output at 200,000 pounds, down 100,000 pounds from the previous year. Molybdenum sales experienced a 50% decline, also totaling 200,000 pounds, down by 200,000 pounds compared to June 2023.

KGHM's latest market filing reflects a robust performance in silver production and sales, countered by declines in copper, TPM, and molybdenum outputs and sales. The mixed results highlight the varying dynamics within the mining sector, influenced by market demand and operational challenges.