KGHM to Look for Rare Earth Metals

Polish copper and silver mining group KGHM Polska Miedź plans to undertake activities to explore and extract rare earth elements. The company's chief executive Herbert Wirth announced that KGHM plans to purchase attractive exploration licenses in different countries.

Currently the bulk of KGHM's profits come from mining copper (the company is in the top 10 of copper producers in the world), and silver (in 2011 it was the world's biggest producer), but it wants to diversify its production.

“We want to be a multi-metal company, one that focuses not only on copper and silver but also on other metals,” said Mr Wirth to newseria.pl. Rare earth metals, such as scandium and yttrium, are used in wind-farm construction, as well as in electronic and electrical equipment. Mr Wirth said that KGHM feels it has a responsibility to supply these materials for the Polish and European industry.

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