Poland's KGHM is exploring acquisition possibilities outside Europe, CEO says (updated)
UPDATE 1-Poland's KGHM is exploring acquisition possibilities outside Europe, CEO says Adds CEO quote in paragraph 2, additional information in paragraph 3, background in paragraphs 4-5
July 6 (Reuters) - Poland's state-controlled copper and silver miner KGHM KGH.WA is exploring potential acquisition opportunities outside Europe under its new strategy, including projects in Morocco, Argentina, Canada and the United States, Chief Executive Remigiusz Paszkiewicz said on Monday.
Overseas assets generated about 48% of KGHM's core profit in 2025, driven by production at its 55%-owned Sierra Gorda mine in Chile and the Robinson mine in Nevada.
"Over the next five to 10 years we are focusing on raw material diversification, seeking access to critical metals, developing and building new revenue sources that strengthen our resilience to copper and silver market fluctuations," Paszkiewicz said.
KGHM also plans to expand the global reach of its contracting firm, DMC Mining Services, to secure new mining contracts, it said in a presentation.
The company's development pipeline includes the Victoria and Ajax projects in Canada and Sierra Gorda Oxides in Chile.
(Reporting by Rafal Nowak and Alicja Surdy in Gdansk; Editing by Matt Scuffham)
((RafalWojciech.Nowak@thomsonreuters.com; +48 58 769 66 63;))
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