About us

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The KGHM Polska Miedź S.A. Group is a global, innovative organisation involved in technologically advanced exploration, mining and metallurgical operations. For several decades, the Company has been mining and processing valuable underground resources, supplying the world with products that enable its sustainable development.

The Company’s history began in 1957 with the discovery of one of the world’s largest deposits
of polymetallic ores, predominantly copper and silver, located in south-western Poland. The deposit has been effectively and rationally mined to this day. As the years went by, the KGHM Polska Miedź S.A. Group grew its business significantly both in terms of products and the market. KGHM Polska Miedź S.A. is present on four continents: in Europe, South America, North America and Asia. The KGHM Polska Miedź S.A. Group is comprised of KGHM Polska Miedź S.A. as the Parent Entity and several dozen subsidiaries. In 2021, KGHM Polska Miedź S.A. celebrated the 60th anniversary of establishing the Copper Mining and Smelting Combine; the main theme of the celebration was “The Future is made of Copper”, which emphasized the key role of copper in energy transition of the global economy.

The cohesion of such a complex organisation is built on a set of common values:

ZERO HARM

TEAMWORK

RESULTS DRIVEN

ACCOUNTABILITY

COURAGE

Zero harm, teamwork, results driven, accountability and courage – these values connect all of KGHM’s employees, whether they work in mines, processing plants or metallurgical facilities, in Poland or in other parts of the world. KGHM builds its global position in the world as a reliable producer, trusted business partner and a company respecting sustainable development principles. The Company has been listed on the Warsaw Stock Exchange for nearly 25 years and is included in the WIG20, WIG30 and WIG-ESG indices. KGHM Polska Miedź S.A. is also among companies included in the FTSE4Good Index Series.

years

KGHM is a company with 60 years of history, operating on the basis of deeply rooted values and principles which its employees follow in their daily work.

Specifically, the business of the KGHM Polska Miedź S.A. Group includes primarily:

mining of copper ores and non ferrous metal ores
production of metals, among others copper, silver, molybdenum, nickel, gold, platinum, palladium,
manufacturing of goods from copper and precious metals,
recycling of non-ferrous metals,

underground construction services,
manufacturing of mining machinery and equipment,
transportation services,

research, analysis and design services,
production of road construction aggregate,
recovery of metals accompanying copper ore.

The activity of the KGHM Polska Miedź S.A. Group with respect to the exploration for and extraction of copper and nickel ore and precious metals deposits is based on the concessions held by KGHM Polska Miedź S.A. for extraction of deposits in Poland and the legal titles held by companies belonging to the KGHM INTERNATIONAL LTD. Group for the exploration for and extraction of raw materials in the USA, Canada and Chile.

Organizational structure of KGHM Polska Miedź S.A. and the KGHM Polska Miedź S.A. Group

As at 31 December 2021, the Group was composed of KGHM Polska Miedź S.A. as the Parent Entity and 69 subsidiaries (including one FIZAN closed-end, non-public investment fund) located on four continents: Europe, North America, South America and Asia. Some of these subsidiaries form their own groups. The largest of these, in terms both of the number of entities as well as the value of equity, is the KGHM INTERNATIONAL LTD. Group, whose main assets are located in Canada, the USA and Chile. It is comprised of KGHM INTERNATIONAL LTD. and 26 of its subsidiaries. As at the end date of the reporting period, the KGHM Polska Miedź S.A. Group held stakes in two joint ventures – Sierra Gorda S.C.M. and NANO CARBON Sp. z o.o. in liquidation.

The Group’s main entities, which are engaged in the mining sector, comprise three primary reporting segments which are independently evaluated by management bodies. KGHM Polska Miedź S.A., KGHM INTERNATIONAL LTD. and Sierra Gorda S.C.M. Other companies, with the exception of Future 1 Sp. z o.o., Future 3 Sp. z o.o., Future 4 Sp. z o.o., Future 5 Sp. z o.o., Future 7 Sp. z o.o. in liquidation, are classified into the “other segments” category.

The diagram below presents major production assets and projects executed as part of the following reporting segments: KGHM Polska Miedź S.A., KGHM INTERNATIONAL LTD., Sierra Gorda S.C.M. and other segments.

Reporting segments of the KGHM Polska Miedź S.A. Group

^* A joint venture of KGHM INTERNATIONAL LTD. and Sumitomo Metal Mining and Sumitomo Corporation, since February 2022 a joint venture of KGHM INTERNATIONAL LTD. and South32

The following companies were not included in any of the
aforementioned segments:

Future 1 Sp. z o.o., which acts as a holding company with respect to the KGHM INTERNATIONAL LTD. Group,
Future 3 Sp. z o.o., Future 4 Sp. z o.o., Future 5 Sp. z o.o. (which operate in the structure related to the establishment of a Tax Group) and Future 7 Sp. z o.o. in liquidation.

These companies do not carry out any operating activities affecting the performance of the individual segments, therefore adding them could affect the data presented in the consolidated financial statements, because of the significant values of internal settlements with other Group entities. The segments KGHM Polska Miedź S.A., KGHM INTERNATIONAL LTD. and Sierra Gorda S.C.M. have separate Management Boards, which report their operational results to the Management Board of the Parent Entity.

The segment KGHM Polska Miedź S.A. only consists of the Parent Entity, while the segment Sierra Gorda S.C.M. consists only of the Sierra Gorda joint venture. The chart presents the remaining companies in the KGHM Polska Miedź S.A. Group, broken down by segments: KGHM INTERNATIONAL LTD. and Other segments.