The Management Board of KGHM Polska Miedź S.A. announces that on 14 January 2010 a significant contract was entered into between KGHM Polska Miedź S.A. and MKM Mansfelder Kupfer und Messing GmbH for the sale of copper cathodes in 2010.
The estimated value of this contract is USD 522 872 608, i.e. PLN 1 460 383 194.
This amount was estimated based on the forecast copper price (using a forward curve) from 14 January 2010 and the USD/PLN exchange rate per NBP and EUR/USD exchange rate (EUROREFERENCE from Frankfurt) from 14 January 2010.
The total estimated value of contracts entered into between KGHM Polska Miedź S.A. and MKM Mansfelder Kupfer und Messing GmbH over the last 12 months is from PLN 2 617 271 211 to PLN 2 623 542 759, depending on the amount of tonnage under option. The highest-value contract signed during this period is the above-mentioned contract.
The criteria used for describing the contract as significant is that the estimated value of the contract exceeds 10% of the equity of KGHM Polska Miedź S.A.
Legal basis: § 5 sec. 1 point 3 of the Decree of the Minister of Finance dated 19 February 2009 regarding current and periodic information published by issuers of securities and conditions for recognising as equivalent information required by the laws of a non-member state (Journal of Laws from 2009 No. 33, item 259 with subsequent amendments.)
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