KGHM launches USD 725 million expansion while KGHM stock trades at EUR 69.53

Published on 10/22/2026 at 09:23 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Sierra Gorda targets 20 percent more copper by 2030. KGHM stock saw first-half 2026 revenue of PLN 24.70 billion, up 40.80 percent.

Expansion and reporting timeline

KGHM and South32 began a USD 725 million Sierra Gorda expansion on October 2, 2026.
First-half 2026 revenue reached PLN 24.70 billion, up 40.80 percent from a year earlier.
KGHM stock was trading at EUR 69.53 at 9:15 a.m. CEST at Lang & Schwarz on October 22, 2026.

KGHM, PLKGHM000017, Illustration mit AI erstellt.

KGHM stock (PLKGHM000017) was trading at EUR 69.53 at Lang & Schwarz on October 22, 2026 at 9:15 a.m. CEST. The copper producer is advancing a USD 725 million expansion at its Sierra Gorda mine in Chile, a project that targets a 20 percent increase in copper production.

According to KGHM on October 2, 2026, the fourth grinding line is designed to lift ore-processing capacity from 48 million to 60 million tonnes annually. Completion is scheduled for the end of 2029, with full production capacity expected in the second half of 2030.

Why Sierra Gorda matters

The investment gives KGHM a growth project without requiring a new mine. The expansion is being financed through operating cash flow and available debt instruments, while the project is expected to reduce the C1 unit cost of copper production.

The scale is material for investors because KGHM holds a 55 percent stake in Sierra Gorda. The project also has a workforce dimension, with more than 900 construction jobs expected during implementation, according to Europe Says.

What comes next

KGHM's latest investor calendar schedules publication of the consolidated report for the third quarter of 2026 on November 18, 2026, according to the company's investor-relations page. That report will show whether the strong first-half trend continued into the second half.

For the first half of 2026, revenue reached PLN 24.70 billion, up 40.80 percent year over year, while adjusted EBITDA rose 89.10 percent to PLN 9.20 billion, according to Europe Says. The same period produced net income of PLN 5.58 billion, compared with PLN 579.00 million a year earlier.

Price stays the market anchor

The operating case combines higher future production with substantial capital spending and debt financing. On the GPW, KGHM was last at PLN 304.60 on October 22, 2026 at 9:06 a.m. CEST, with the market open. Its 52-week range was PLN 183.80 to PLN 396.40, while market capitalization stood at PLN 60.9 billion as of the same quote.

The further course of trading is shown by the continuously updated real-time quote of KGHM stock.