Miroslaw Krutin reveals his strategy for KGHM copper producer.
“As long as we have copper, we may not worry but within 20-30 years, this will change. We must be ready. We have vast fields of copper, as large as the company has explored in its whole several-dozens-year-long history. But how to get copper lying 1,500 meters and lower? We don’t have technologies. If we get them, the mines will work 30 more years. This is our goal, the main dish of the strategy. All the other things are hors d’oeuvre”, Miroslaw Krutin said.
In addition, KGHM will be the main player in the big energy project evaluated at several billions zloty.
“We are one of very few companies which can afford so big investments. We must quickly invest money in energy. I want to do this”, KGHM head admitted.
He also convinces employees to agree for his plan of founding an investment fund which would facilitate the group’s structure.
The plans of the former management to list KGHM Ecoren subsidiary, the rhenium producer, won’t be implemented. Dialog telecom, on the other hand, has chances for an IPO.
“We want to withdraw from the company and get back what we invested. At the end of the third quarter, the telecom’s managers will present the new strategy. Before the IPO, however, the effectiveness of the business must grow. The debut is possible in a year at the earliest”, Mr. Krutin believed.
Today, the company wants to quickly launch two big projects worth jointly PLN 1.85bn (EUR 553.1m).
(PLN 1 = EUR 0.299)