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Polska Miedz Board approved the strategy for the years 2015-2020

23 February 2015

Guide «Polska Miedz» Polish mining and metallurgical group examined and approved the development plan for the period 2015−2020 gg. with a view to 2040. The main objective of the new strategy is the conclusion of production to the volume of copper in excess of 1 million. Tons of its own raw materials. Also, the plan called for increased efficiency of existing mining assets. Developed by the group strategy will be implemented through 3 m main areas — production, resource base and investment projects.

The first area involves increasing the annual volume produced in Poland, copper raw materials. Also it provides output to full capacity of mining and processing plant Sierra Gorda. Presumably it will be 120 000 tons of copper concentrate by mid-2015. And consider the possibility of processing in the production of oxide ore. Thus it will be possible to ensure a higher quality of production in the long term. In addition, this line includes the development and commissioning of modern technologies. They will enable the involvement of the intellectual creation of the first mine, whose work is based on neural networks.

The second direction is to ensure the gradual replacement of new deposits have long been used in mines. Such substitution will be possible thanks to the enhanced geological exploration in respect of mines adjacent to the working area. There will also be carried out search of cheap assets in politically stable regions around the world.

The third area, designed Polska Miedz, envisages the involvement of significant financial resources on the development of the central business units in the country. It is also expected to start financing of resource projects outside of Poland, which will reduce production costs.

According to analysts Goldman Sachs, this year the price of copper in the world can go down to 9%, taking into account the reduction in price of oil and the strengthening of the USD. In January, the price of copper on the London Metal Exchange closer to year low of 2009. The main reason were the rumors of destabilization of the euro zone at the expense of the new Greek policy, aimed at tightening the country's budget savings. In addition, the reduction in the cost of copper had an impact on reducing the fear of non-ferrous metals demand from China.

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