Poland's copper miner KGHM expects losses in 2008 and 2009 - minister

WARSAW (Thomson Financial) - Poland's state-controlled copper miner KGHM has presented a financial plan which assumes the company will have losses this and next year, newspaper Gazeta Wyborcza quoted Deputy Treasury Minister Jan Bury as saying in an interview.

'KGHM's plans have been prepared in such a way as to show that in the first two years, the company will generate losses,' Bury told the paper.

'I do not understand this.'

According to media reports, KGHM's supervisory board last week rejected the 2008 financial plan presented by management.

KGHM's spokesman was not available for commment.

KGHM will release its full-year 2007 earnings on Feb 14.

Source:By Piotr Skolimowski, forbes.com