Poland’s copper giant KGHM is expecting pull in PLN 3.8bn in profits this year, the company announced, having scored a net profit of PLN 11.08bn in 2011. Last year’s result, however, was magnified by the sale of its 25 percent stake in Polkomtel, a deal completed in 2011 that brought in PLN 2.31bn. KGHM’s recent profits forecast is even weaker than the market expectations, as analysts had predicted it would clear costs this year with PLN 4.3bn to spare. Profits will no doubt be affected as well by the purchase of Quadra FHX Mining Ltd, a deal finalized in the first quarter of 2012.
