Poland’s KGHM showcases how foreign investments yield profits and boost the nation’s economy, emphasizing long-term commitment and technological advancements
At the recent Economic Forum in Karpacz, Poland, KGHM Polska Miedź S.A., the eighth-largest copper producer globally and the second-largest silver producer, highlighted the significance of its foreign investments in Chile, the USA, and Canada. These investments have not only secured access to strategically important resources for Poland and Europe but also generated annual profits in the hundreds of millions of dollars.
Promoting Polish Economy Abroad
KGHM’s CEO, Tomasz Zdzikot, emphasized that their international presence serves as a valuable channel for showcasing Poland’s economy on the global stage. The company’s commitment to foreign investments aligns with Poland’s diplomatic efforts to establish strong economic ties, particularly in the Western Balkans, Ukraine, and Moldova.
Long-term Investments and Technological Advancements
Mateusz Wodejko, Vice President of KGHM Polska Miedź S.A., underlined the long-term nature of their mining investments, spanning 10-12 years. Despite associated risks, these ventures offer substantial returns and opportunities to acquire expertise and technologies from acquired firms.
One noteworthy example of this is KGHM’s acquisition of the Canadian company DMC Mining, which possesses unique technologies enabling successful operations on three continents. Polish managers have played a pivotal role in DMC Mining’s global success.
Banking and Economic Growth
Representatives from financial institutions like Jerzy Kwieciński, Deputy President of Bank Pekao S.A., emphasized the role of banking institutions in supporting Polish businesses’ international expansion. Polish companies are increasingly recognized globally, with prominent names like KGHM, Fakro, and Maspex.
Support from Development Banks
Radosław Kwiecień, a board member of BGK (Bank Gospodarstwa Krajowego), stressed the importance of support from development and promotional banks in facilitating business ventures in high-risk markets, such as Africa, Asia, and the Balkans.
KGHM’s foreign investments not only contribute to Poland’s economic growth but also enhance its global standing. The company’s commitment to long-term ventures, technological advancements, and cooperation with financial institutions underscores Poland’s emergence as a prominent player in the international business arena.