Poland’s copper giant KGHM announced its net profit could shrink to PLN 3.2bn this year, down from the PLN 4.74bn it expects to post for 2012. The company estimates its income is likely to decrease to PLN 18.9bn this year from PLN 20.63bn it expects to post for 2012. KGHM predicted its operating income will hit PLN 5.337bn in 2013, and that its expenditures on fixed assets will reach PLN 2.47bn.
In an official statement, KGHM said its 2013 operations will be affected by the złoty-euro exchange rate and the low production volume expected this year for its primary products.
