Start of the second stage of exploration works in the Niecka Grodziecka licence area

At the beginning of October 2012, KGHM Polska Miedź S. A. obtained a relevant decision of the Minister of Environment, thus opening a path towards the second stage of geological works in the territory of Niecka Grodziecka. Soon the drilling of subsequent six bore holes will commence and it is scheduled to be completed within six months. Works aiming to define the hydrogeological situation within the deposit – having a significant effect on the future development and exploitation of the deposit – will be conducted in parallel. 

- The scope of the planned geological works, design and technical analyses will enable us to prepare a preliminary project feasibility study. This study will constitute the basis on which the management will make the investment decision concerning the construction of the mine and apply for the mining licence. The company aims to record approx. 1.5 million tons of copper equivalent in the explored deposit – says Herbert Wirth, the CEO of KGHM Polska Miedź S.A. 

It is worth noting that an independent report developed by Micon International Ltd. and published on 11 February 2013 fully confirmed the size and quality of the resources of copper and silver found in Poland and owned by KGHM Polska Miedź S.A. The report indicates that the available resources of the existing mines and the resources in the territory of the Głogów Głęboki-Przemysłowy mine make it possible to maintain the present level of output (i.e. 29-30 million t/year) even over the next 40 years. Meanwhile, the company works on the projects directly adjoining the area of the mines that are currently in operation and plans to start new ones increasing the resources of KGHM by approx. 987 million tons of copper ore containing approx. 17 million tons of copper. The company has been conducting exploration works within the Niecka Grodziecka licence area since 2011. The exploration area is situated in the direct vicinity of the so-called Old Basin (in Polish: Stare Zagłębie), where the mines Lena, Nowy Kościół and Konrad used to operate. The last of them remained in operation until the beginning of the 1990s.