What goes on in Poland on the 4th of November.
KGHM CEO for BiznesAlert.pl: We have an idea for a business in Sierra Gorda with a new partner
KGHM Polska Miedź is conducting trilateral talks on defining the detailed rules of cooperation with a new partner in the Chilean Sierra Gorda Mine. The CEO of KGHM Marcin Chludziński told BiznesAlert.pl that the company was hammering out “all the details of cooperation with our new Australian partner. We are also conducting trialogues with Sumitomo. At the moment, it seems to me that we have a similar idea for this mining business with South32.”
When asked when the talks would end, Chludziński said “I do not want to determine the date, but it is a large undertaking that requires precise arrangements. I can assure you that there are no tensions in our relations. We are writing down further arrangements. Due to the fact that KGHM Polska Miedź and South32 are listed companies, we will publish all the details of the agreement at the same time”.
Sumitomo sold a 45 percent stake in Sierra Gorda to an Australian mining and metallurgical company for USD 2.2 billion a few weeks ago. The Sierra Gorda open-pit copper and molybdenum mine is located in the Antofagasta area in the Atacama Desert, and was launched in mid-2014.
Castoro 10 completes the laying of the Baltic Pipe in Denmark
The Castoro Dieci barge (10) has reached the Construction Point (CP 20) of the Baltic Pipe in Danish waters. Near this place, the construction of its section was completed earlier by the Castoro Sei unit.
Castoro 10 began laying the Baltic Pipe in Danish shelf waters on October 12. Its task was to work on a section where the depth does not exceed 15 meters. Now the unit has to perform a golden weld between the section built by Castoro Sei and the one built by Castoro Dieci.
After that, the main line will be an integral whole. The Baltic Pipe in the Baltic Sea is 275 kilometers long. The first gas is to flow through it in October 2022.