KGHM Polska Miedź S.A. is analysing the possibility to develop raw materials projects in Morocco

With the support of the Ministry of State Assets and the Ministry of Foreign Affairs, KGHM Polska Miedź S.A. has signed a memorandum of understanding with the Office National des Hydrocarbures et des Mines and the Managem Group regarding cooperation and the assessment of potential investments in Morocco’s raw materials sector. Seeking opportunities for KGHM’s further growth in foreign markets is a key element in strengthening its position on the international stage.

‘The growing demand for metals essential to the energy transition means that access to new deposits of copper and other strategic raw materials is becoming one of the key challenges facing the global economy. Therefore, potential investments in new regions present an opportunity to strengthen not only KGHM’s but also Poland’s position on the global raw materials map. As a Group, we have the expertise and experience that enable us to carry out ambitious and effective business projects. We see the potential value in this for both the company and our shareholders’, said Anna Sobieraj-Kozakiewicz, Deputy CEO for International Assets at KGHM Polska Miedź S.A.

KGHM is consistently expanding its presence in international markets, focusing on diversifying its sources of raw materials and building a strong, global portfolio of assets. The signed memorandum forms part of efforts aimed at further developing KGHM’s international operations and identifying new mining projects outside Europe. Morocco is regarded as one of the most promising investment destinations in North Africa, thanks to both its mineral resources and its stable economic environment.

The memorandum paves the way for analysing potential mining projects in a region that combines rich mineral resources with improving economic stability and a favourable investment climate. For KGHM, this is another step towards implementing its long-term plans, which involve actively seeking new deposits and strengthening the Group’s security of supply.

The aim of the memorandum is to establish a framework for cooperation between KGHM and its Moroccan partners in assessing and capitalising on opportunities in, amongst other things, the copper mining sector. The memorandum is not legally binding and merely sets out the intentions of the Parties.

It was signed during an economic mission to Rabat led by Marcin Bosacki, State Secretary at the Ministry of Foreign Affairs, during which discussions were held on green technologies, raw materials and new Polish investments with the institutions responsible for Morocco’s energy transition and sustainable development.