The company owns 55% stake in the project, while the Japanese firm Sumitomo holds the remaining share.
KGHM intends to produce 110,000t of copper this year and 217,000 tons of copper by 2018. Sierra Gorda is also estimated produce 11,000 tons of molybdenum each year.
KGHM CEO Herbert Wirth was quoted by Reuters as saying: "Construction is finished. I think that this month we’ll see the first production of copper ore, and maybe we’ll also see the first sales."
The company gained control of the project, as part of its acquisition of Canada’s Quadra FNX in 2012.
KGHM plans to boost its copper production by more than 40% to one million tons each year.
Sierra Gorda project, which is located in Antofagasta region in Northern Chile, is currently estimated to produce 483 million pounds of copper, 25 million pounds of molybdenum and 64,000oz of gold per year.
Image: Sierra Gorda mine in Chile. Photo: courtesy of KGHM International.
