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KGHM Group financial growth and expansion strategy

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2026-10-02 06:22 UTC → 2026-10-05 06:09 UTC · added ~~removed~~

KGHM Group reported strong financial performance for the first half of 2026, with revenues increasing 41% to 24.7 billion PLN and net profit reaching 5.58 billion PLN. To support its expansion strategy, the company is accelerating exploration in Poland and at the Catabela Northeast project in Chile. In September 2026, KGHM signed a letter of intent with BHP World Exploration Inc. to establish a framework for global copper market cooperation. This partnership focuses on technological exchange, engineering knowledge sharing, and the optimization of production processes. As of ~~late September~~ early October 2026, KGHM and partner South32 have officially ~~commenced~~ launched a $725 million expansion of the Sierra Gorda mine in ~~Chile. The~~ Chile’s Atacama Desert. Described as the largest foreign investment in the company’s history, the project involves constructing a fourth grinding line to increase ~~production~~ ore processing capacity from approximately 48 million to 60 million tons annually. This is expected to boost copper production by roughly 20 percent. The expansion is scheduled for completion by the end of 2029 and is projected to create approximately 900 new jobs. CEO Remigiusz Paszkiewicz noted that the mine has become a critical asset, with foreign assets contributing 50 percent of the group’s EBITDA in the first half of the year. The Sierra Gorda operation is a joint venture where KGHM holds a 55 percent stake. KGHM continues to pursue mergers and acquisitions, currently engaged in a confidential process to acquire an asset under exclusivity. The company is also reportedly exploring expansion in Argentina, specifically the Los Azules copper project, while monitoring markets for lithium and titanium across South America, North America, North Africa, and Ukraine. Regarding market performance, KGHM’s stock has entered a period of consolidation between 290 and 385 PLN following record highs in January. ~~Analysts are currently monitoring the 300 PLN level as the stock tests long-term support levels.~~

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