World’s Largest Silver Producing Company States Big Decline in Production
Silver production at KGHM Polska Miedz declined a whopping 17% from 653 tonnes in 1H 2012, to only 544 tonnes 1H 2013. According to KGHM Polska Meidz’s 1H 2013 presentation, the decline in silver production was due to lower silver content in processed concentrate, lack of delivery of purchased concentrate with higher silver content and to a change in the schedule for the maintenance shutdown of the Precious Metal Plant.
The decline in silver production was not confined to just the second quarter, it also fell 17% during the first quarter of 2013. The brown line above the silver bar shows that this was a planned decline. I have emailed the investors relations department to see if the drop in silver production is attributed more to falling ore grades or a temporary situation of maintenance and etc.