KGHM Sells Franke Mine

A year after announcing its intent to sell the Franke mine in Chile and the Carlota mine in the western United States, KGHM has sold the Franke mine. 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 was reportedly $25 million. The Franke Mine is a copper-producing deposit located in the southern Antofagasta Region near Taltal. KGHM bought the asset from the Quadra FNX, a company it acquired in 2012.

As featured in Womp 2022 Vol 06 -