A year after starting the process of selling KGHM’s mining assets of the Franke mine in Chile and the Carlota mine in the western United States, the Franke mine sale has recently been completed. This was reported by Polish mining company KGHM in its latest consolidated report for the first quarter of 2022.
The subsidiaries of KGHM International Ltd., Franke Holdings Ltd. and Centenario Holdings Ltd., signed an agreement on April 26 to sell 100% of the shares of Sociedad Contractual Minera Franke — owner of the Franke mine in Chile — to Minera Las Cenizas SA.
The initial negotiated purchase price is $25 million. So far, the mining company has divested one of its mines in Chile to optimize its assets because, according to sources, the sale was aimed precisely at its small, low-production assets.
The Franke Mine is a copper-producing deposit located in the south of the Antofagasta Region in the municipality of Taltal. The Polish mining company bought this asset from the Canadian Quadra FNX in Chile, a company that the company acquired in 2012.
