BHP and KGHM Sign Mining Cooperation Memorandum

en.Wedoany.com Reported - Polish copper group KGHM and BHP World Exploration, a subsidiary of BHP, have signed a memorandum of cooperation establishing a framework for exchanges and potential cooperation in the mining sector, covering the exchange of mining operational experience, comparison of operational practices, sharing of technical knowledge, and assessment of potential cooperation directions.

Based on their respective international mining operational experience and technical capabilities, the two parties will identify areas where knowledge can be shared and operational methods compared, and assess directions for subsequent cooperation. KGHM's announcement did not disclose specific minerals, mining assets, investment amounts, equity arrangements, or equipment procurement plans, nor did it set a timeline for signing subsequent formal contracts.

KGHM is currently implementing its 2055+ strategy, with planned capital expenditure of more than PLN 32 billion for 2026–2030, of which nearly 80% will be allocated to its core domestic production system in Poland and related enterprises, covering mining infrastructure construction, modernization of smelting facilities, and energy and technology innovation projects; the remaining funds will be mainly invested in KGHM International and the Sierra Gorda asset, in which it holds a 55% stake. During the same period, the group aims to maintain average annual payable copper production at approximately 730,000 tonnes.

KGHM's 2055+ strategy also lists new technologies, knowledge sharing, and the development of overseas resource assets as development directions. The document signed with BHP currently only establishes a cooperation discussion mechanism; whether it subsequently leads to specific exploration, mine operations, smelting technology, or asset cooperation will depend on the specific projects further determined by both parties.