KGHM Polska Miedź SA was established in 1961 as a state enterprise under the name Kombinat Górniczo-Hutniczy Miedzi (Copper Smelting-Mining Combine). In 1991 it was transformed into a joint stock company and shares of company have been trading on the Warsaw Stock Exchange since 1997.
KGHM employs more than 18,000 people at its three mines in Poland; Lubin, Rudna and Polkowice-Sierszowice, as well as three smelters, and a wire rod plant.
KGHM produced 425,000 tonnes of copper in concentrate in 2010, representing about 2.7 per cent of global production, and about 547,000 tonnes of refined copper, or about 2.9 per cent of global production, according to its annual report. It produced 38 million ounces of silver in concentrate, representing 5.2 per cent of global production.
There are about 30 entities under the larger KGHM Polska Miedź S.A. Group. KGHM is also involved in the production of salt and casting of light metals and waste management. The KGHM Group also owns equity shares in companies involved in other areas such as health services, tourism and telecom.
Last year it founded KGHM (Shanghai) Copper Trading Co., along with some Chinese partners, to help increase sales of its copper to China and increase the percentage of Chinese producers in supplying materials and equipment to the production divisions and companies of the KGHM Group.Report Typo/Error