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KGHM to Update 2010 Earnings Forecast by October, Parkiet Says

Aug. 2 (Bloomberg) -- KGHM Polska Miedz SA, Poland’s only copper producer, will publish an updated forecast of 2010 earnings in September or October, Chief Executive Officer Herbert Wirth told Parkiet.

He said on June 17 that the company may upgrade 2010 forecasts because of the zloty’s weakness.

He also said KGHM seeks to complete the purchase of another, “slightly bigger,” copper deposit in Canada as early as this year after buying in May the Afton Ajax deposit, which yields 50,000 tons a year. Wirth said talks on the price haven’t yet started.

Separately, Wirth said Polkomtel SA shareholders, including KGHM with a 24.4 percent stake, are still working on due-diligence scrutiny before offering Poland’s biggest wireless company to potential investors, Parkiet reported.

To contact the reporter on this story: Monika Rozlal in Warsaw at mrozlal@bloomberg.net

To contact the editor responsible for this story: Willy Morris at wmorris@bloomberg.net

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