KGHM Sees Lower Q3
The top copper miner, KGHM KGHM.WA, in Europe anticipates a lower third quarter than the same time last year and may even go so far as to reduce their 2008 forecasts due to a lessening of certain copper products.
We will close the third quarter with revenue lower than in the third quarter of 2007, as we achieve lower margins on the copper we sell,” Maciej Tybura told reporters on Wednesday.
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KGHM plans to keep its current forecast and revisit in November once they have revealed their quarterly figures. The company sees their unconsolidated net profit falling from 3.8 billion zlotys in 2007 to 2.9 billion ($1.14 billion) for 2008.
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Wed, Oct 8, 2008
Post by Mike Rodger, Copper Reporter