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Poland's largest producer of copper in need of financial support

Poland's largest copper producer — the company KGHM Polska Miedź SA (Mr. Lubin) needs financial support. «We need money for development» — commented the executive director of the company, Herbert Wirth. «First of all, the funds required for the implementation of our investment program, as well as to close the issue on payment of dividends to shareholders of the company," — said the head of the Polish steel plant.

Recently in the press data on the KGHM Polska Miedź SA was published last year. According to these reports, the last months of 2012 for the company have been extremely unsuccessful: Polish profit organization in the 4th quarter of last year fell to the level of 750 million PLN, which is as much as 80% less data for 2011. In the same year, the situation is seen as the company's management is even less rosy. «Firstly, we are waiting for the full year tax on the extraction of silver and copper (whereas in the past year, the first 3 months we have worked even without this fee). Secondly, we have planned 12-week shutdown of the plant facilities in Głogów for maintenance. Therefore, our expectations regarding the profitability of the company in 2013 are very pessimistic «- representatives complain KGHM.

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