Poland will reduce copper ore mining tax starting from 2026

Published: May 23, 2025 19:19

Save

On May 23 (Friday), Polish Finance Minister Andrzej Domanski stated that under the new system, Poland's copper ore mining tax would be reduced starting next year.

The mineral extraction tax, which includes copper, was introduced in 2012. According to the annual report of KGHM, Poland's largest copper ore producer, the company paid 3.87 billion zlotys in taxes in 2024.

Domanski said that the tax reduction and the introduction of investment expenditure deductions would reduce tax revenue by approximately 10 billion zlotys ($2.66 billion) over a decade and lower costs for copper ore producers by the same amount.

Jakub Jaworowski, Minister of State Assets, stated that, in fact, KGHM is the supplier of approximately 85% of Europe's copper, which is absolutely crucial.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

7 mins ago

Rising Copper Prices Suppress Wire and Cable Orders, with Significant Divergence in Industry Operating Rates [SMM Wire and Cable Market Weekly Review]

7 mins ago

19 mins ago

Copper Prices Rebound, Weakening Substitution Effect with Scrap Copper

[SMM Copper News Flash] As copper prices rebounded above 100,000 yuan/mt, the intraday substitution effect between refined copper and copper scrap weakened compared to before. From the perspective of Shanghai spot copper transactions, the transaction price of EQ copper declined.

19 mins ago

23 mins ago

High Copper Prices Combined with Raw Material Shortages Put Brass Billet Operating Rates under Pressure

[SMM Brass Billet News Flash] This week (4.10-4.16), the operating rate of the brass billet industry was recorded at 53.68%, down 1.03 percentage points WoW. Copper prices fluctuated at highs, market trading was subdued, and new orders weakened; recycled brass raw materials remained tight, raw material inventories fell to 4.31 days, and finished product inventories rose to 5.42 days. The operating rate is expected to continue declining by 0.32 percentage points WoW to 53.36% next week (4.17-4.23).

23 mins ago