KGHM says cost of launching Sierra Gorda mine reached $4.16 bln

lunes 4 de agosto de 2014 09:22 GYT

WARSAW Aug 4 (Reuters) - Europe's No.2 copper producer KGHM Polska Miedz said on Monday that the final cost of launching production at its Chilean Sierra Gorda mine reached $4.16 billion.

"Today I can say that the cost of launching (production at Sierra Gorda) amounted to 4.156 billion dollars," KGHM Chief Executive Herbert Wirth told a news conference.

The cost of getting production underway at Sierra Gorda has been over a third more than KGHM initially expected, while falling global copper prices have hit the company's profits. (Reporting by Adrian Krajewski; Writing by Marcin Goclowski)