WARSAW/LONDON - Poland’s state-run mining company, KGHM, plans to sell its Robinson and Carlota copper mines in the United States and reinvest the proceeds in its domestic operations, two banking sources told Reuters.
KGHM, one of Europe’s biggest copper and silver producers, became the owner of the U.S. mines in 2012, when it bought rival Canadian Quadra FNX. The two U.S. copper mines, in Nevada and Arizona, are valued at around $500 million and with strong copper prices they are expected to attract interest from North American private equity firms or smaller mining companies, one of the sources said.
KGHM said the $500 million valuation given by the source “appears to be at odds with the company estimation,” declining to comment further.KGHM’s international expansion was questioned by the conservative Law and Justice party, which took power in 2015.
Is that..MARS..?
Good luck Mr KGHM (how do you pronounce that, by the way?). Always good to see working class men getting their bag.
Not to be an isolationist or anything,but it seems like we sell mineral and resource rights to foreign companies much more than other countries. Is China allowing US owned companies to mine for rare earth elements too?
95% only bad news(
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