Reuters reported that KGHM of Poland aims to become one of the world's top 5 producers by 2018 and is considering a dual share listing to help fund foreign expansion plans.
Hoping to continue to benefit from the surge in metal prices, the state controlled Polish miner wants to raise its annual copper output by around a third to well above 700,000 tonnes in 7 years via investments of around PLN 30 billion including 7.5 billion set aside for this year.
Mr Herbert Wirth CEO of KGHM said that a listing on the Toronto stock exchange was most likely which is already known for the large number of mining companies trading there. From the perspective of financing Greenfield projects, the Toronto bourse is the best address.
KGHM also plans to sell its Dialog telecoms arm by the end of June, which would beef up its 2011 bottom line as well as help secure financing for its plans.
Mr Wirth said that it would send out prospectuses to possible bidders for Dialog this month and hopes to sell it in the H1 faster than earlier expectations. It is also among the owners of Polkomtel, who put the Polish cellphone operator up for sale this year.
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