KGHM Polska Miedź with record domestic production in the first half of the year

Highest mining copper production in five years and record result for silver in concentrate. Nearly 5% increase in volume result for metallic silver and stable level for electrolytic copper at KGHM Polska Miedź S.A.

- Record-breaking, best result since 2004 in half-year production of silver in concentrate - 677.4 tonnes. Highest half-year copper production in five years - this is how we work to become a giant, this is how our employees build KGHM's success. The best half-yearly production result since 2018 is thanks to our staff and effective management. We have a vision and ambitious development plans, which we are consistently implementing. Once again, we are proving our strong position among global industry leaders and building the success of the Polish economy - said Tomasz Zdzikot, CEO of KGHM Polska Miedź S.A.

RECORD FIRST HALF

Following the publication of preliminary production results for June 2023, the copper giant's production is at record levels. Mine production of copper in concentrate amounted to 202.3 thousand tonnes, nearly 2% higher than the result for the first half of 2022 (198.9 thousand tonnes). Electrolytic copper production is at a similar level to the same period in 2022: 295.8 thousand tonnes (H1 2023) versus 296.3 thousand tonnes (H1 2022). Production of silver in concentrate is 677.4 tonnes, the copper giant's best half-year result for a comparable period since 2004.

Silver metal production in the first half of 2023 was 699.2 tonnes (+31t relative to the first half of 2022), the highest for the comparable period since 2018.

- The highest mining production of copper since 2018 and the highest mining production of silver in nearly two decades are the result of the hard work of the KGHM staff and effective management. We are mining more ore while ensuring its highest quality. This is how we build the strength of Polish Copper - said Marek Świder, Vice President of the Management Board for Production at KGHM Polska Miedź S.A.

SECTOR LEADER

For years, Polish Copper has been among the world's leading producers of copper and silver. In the World Silver Survey 2023 ranking, KGHM retained its first place in the list of "largest silver mines in the world" and second place in the category of "largest silver producers". The company is ranked eighth on the list of the world's largest copper producers, developing its business in line with sustainable development and international trends. In line with budget assumptions this year, the company is planning its highest ever level of investments and capital expenditure, while maintaining a stable capital, financial and operational position. It is consistently implementing its plan for growth, including the Deposit Opening Project, which recently launched Poland's deepest mine workings: the 1348m deep GG-1 shaft.