KGHM representatives have returned from their trip to Chile encouraged by what they saw of their most recent acquisition: the Quadra mining company. Their first stop at its Sierra Gorda project was one of the key points, as it was feared that the entire Quadra takeover could prove a disaster depending on the true state of affairs there. “Our [copper] deposits in Chile are impressive,” said Herbert Wirth upon his return from Sierra Gorda. “We saw a huge construction site in the middle of the giant desert, where the works continue non-stop, seven days a week” Wirth reported. KGHM owns 50% of the Sierra Gorda project, together with the Japanese firm Sumimoto, which whom it’s splitting the costs (estimated at USD 3bn). The markets are still waiting to see the project’s first quarter results, which are scheduled to be announced May 15.
