The Management Board of KGHM Polska Miedź S.A. (hereafter „the Company”) announces that on 3 July 2026 the Supervisory Board of KGHM Polska Miedź S.A. approved the “Strategy of the KGHM Polska Miedź S.A. Group 2055+" ("Strategy of the KGHM Group 2055+") submitted by the Management Board of the Company.
Taking into consideration the rapid geopolitical and macroeconomic changes affecting the market and strategic trends for the mining sector, including copper, the Management Board – following an analysis of current opportunities and challenges identified in the Company’s environment, as well as regards the core business and other business areas – has set the strategic development priorities of the KGHM Group as a multi-resource group. The Strategy of the KGHM Group 2055+ is based on a long-term approach aimed at ensuring a stable, cost-competitive and resilient organisation, capable of functioning in a volatile market environment. As part of its long-term strategy, the Company intends to concentrate primarily on strengthening the Core Production Business in Poland and developing its know-how as regards the mining and processing of natural resources, including critical raw materials as well as minerals of key importance to the economy. The selective development of the portfolio of international assets remains an important element of the strategy, which is based on both the active ownership supervision system and the potential acquisitions of raw material projects, taking into account their economic efficiency, risk profile and consistency with the Group's long-term targets. The strategy also assumes a higher importance of research and development projects as a factor supporting the Group's competitive advantages, among others, by using the potential of artificial intelligence in business processes and developing technologies that support KGHM's ESG goals.
The overarching strategic goal of the KGHM Group is the profitable mining of minerals with an outlook beyond 2055. The Strategy of the KGHM Group 2055+ defines the mission as “Innovation in every gram of copper” and vision as “Responsible mining for future generations”.
The Strategy of the KGHM Group 2055+ was systematised into three complementary areas, under which strategic directions were designated.
Area 1 – The strengthening and development of know-how and of the business potential of the KGHM Group – the utilisation of competitive advantage resulting from unique mining and metallurgical know-how throughout the value chain and in the entities of the KGHM Group.
Strategic directions:
Ensure financial stability,
Optimise work and develop the potential of the Group’s Companies in Poland,
Develop international assets,
Ensure succession and maintain human potential in the organisation.
Area 2 – The sustainable mining and metallurgical production of copper and associated products – the maximum utilisation of resources and their optimum management, while maintaining the highest environmental and market standards.
Strategic directions:
Develop and manage the Polish resource base,
Ensure long-term, efficient and flexible production,
Manage production waste,
Ensure compliance with legislative requirements and market standards,
Cooperate with local communities and other stakeholders,
Develop metallurgical production,
The Energy transition.
Area 3 – Expansion and development of technology and innovation – development of the value of the KGHM Group’s products and expansion of the products portfolio in accordance with megatrends and the current development directions of the mining and metallurgical sector.
Strategic directions:
Extension of the value chain with new products and services,
Multi-resource portfolio, including critical metals,
Innovation, development of new technology, knowledge sharing.
In terms of the defined strategic directions, strategic targets were set to be achieved along with KPIs, with particular emphasis on the short-term and medium-term perspective.
Key financial and production indicators:
Maintain, on an annual average basis in the years 2026-2030, an adjusted EBITDA of the KGHM Group at the level of PLN 12 billion and an EBITDA margin of the KGHM Group at the level of 25.6% in real terms, assuming an average annual copper price of 11 454 USD/t during this period, a silver price of 58.18 USD/oz and a USD/PLN exchange rate of 3.56, adopted on the basis of the median of market forecasts as of June 2026.
Maintain, on an annual average basis in the years 2026-2030, payable copper production in the KGHM Group at the level of 730 thousand tonnes, of which approx. 80% from the Polish assets (including 180 thousand tonnes from scrap) and 20% from the international assets.
Maintain, on an annual average basis in the years 2026-2030, silver production in the KGHM Group at the level of 1 290 tonnes and molybdenum production at the level of 4.0 million pounds.
An increase in revenues from sales of products more highly-processed than copper cathodes to approx. 60% as compared to total sales of electrolytic copper in the reporting year at the end of 2035.
An increase by at least 50% (up to at least 220 MW) in installed capacity from own power generation sources by 2030, compared to the capacity ordered by KGHM in 2024 (440 MW).
Reduce Scope 2 CO2 emissions by 30% by the end of 2030 in KGHM Polska Miedź S.A., achievement of climate neutrality in the long-term in 2050.
Strive for 0 accidents as measured by LTIFR for the assets in Poland and TRIR for the international assets.
As part of the Strategy of the KGHM Group 2055+, an investment plan was developed which aims to ensure higher margins and improved profitability in the near-term perspective, and to strengthen the Company’s position amongst global copper producers in the long term. In the years 2026-2030, the KGHM Group’s capital expenditures are estimated at over PLN 32 billion, of which nearly 80% will be allocated to capital expenditures within the Core Production Business in Poland and in the Polish companies of the KGHM Group. The remaining 20% is made up of investments in the companies KGHM INTERNATIONAL LTD. and Sierra Gorda S.C.M. (55% share of KGHM Polska Miedź S.A.). The forecasted average annual capital expenditures in this period will amount to approx. PLN 6.5 billion, of which the Company intends to allocate nearly 40% to development projects. Additionally, approximately 2% of capital expenditures in Poland will be allocated to research and development work including: solving technological challenges in the area of mine and metallurgical production, issues related to sustainable development as well as projects and innovations opening new directions of business development.
The strategic intentions also include goals for the Polish companies of the KGHM Group, where the overarching issues are the guaranteed safe realisation and stability of the mining and metallurgical processes of KGHM as well as priorities as regards sustainable development influencing the enhancement of environment protection, social responsibility and the achievement of stable economic results.
The realisation of the Strategy of the KGHM Group 2055+ is planned in 3 time horizons:
Short-term, up to 5 years (to 2030) – Strengthening of the core business,
Medium-term, 5+ years (to 2035) – Extension of the value chain and decarbonisation,
Long-term, 10+ years (after 2035) – Development of a multi-resource portfolio.
Legal basis: Art. 17 (1) of MAR (Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC