KGHM stock falls 1.59 percent as Sierra Gorda expands in Chile

Published on 10/07/2026 at 13:15 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

KGHM stock was trading at PLN 338.15 on October 7, 2026, down 1.59 percent. A USD 725 million mine expansion targets higher output by 2030.

KGHM, PLKGHM000017, Illustration mit AI erstellt.

KGHM stock (ISIN PLKGHM000017) was trading at PLN 338.15 on GPW on October 7, 2026, down 1.59 percent from the previous close. The market is weighing the company's USD 725 million Sierra Gorda expansion, announced by KGHM on October 2, 2026.

USD 725 million mine expansion

The project adds a fourth grinding line at Sierra Gorda in Chile. According to KGHM, the investment is being carried out with South32, and construction is scheduled for completion at the end of 2029, with full production capacity expected in the second half of 2030.

KGHM owns 55 percent of the joint venture, while South32 owns 45 percent. The expansion will be financed through operating cash flow and available debt instruments, linking the growth plan directly to the group's capital allocation and balance-sheet capacity.

2025 earnings set the base

KGHM's fiscal-year 2025 revenue reached PLN 36.4 billion, an increase of 3 percent from the prior year, while adjusted EBITDA rose 22 percent to PLN 10.3 billion. Net result increased 28 percent to PLN 3.7 billion, according to KGHM.

The latest interim figures point to a stronger operating year. In H1 2026, revenue reached PLN 24,711 million and net profit was PLN 5,579 million, compared with PLN 11,872 million and PLN 3,529 million in Q1 2026, respectively, according to Stockd. The comparison shows that the second quarter contributed materially to the first-half result.

KGHM stock stays below yearly high

KGHM stock was trading at PLN 338.15 on October 7, 2026, within a 52-week range of PLN 178 to PLN 396.40. The current level is PLN 58.25 below the yearly high, while market capitalization stood at PLN 67.6 billion and volume reached 180,472 shares.

The next company checkpoint is the consolidated third-quarter 2026 report scheduled for November 18, 2026. For investors, the key question is whether the strong 2025 and H1 2026 earnings base can support the funding and execution of Sierra Gorda through 2030.

Sierra Gorda defines the next phase

KGHM stock was last quoted at PLN 338.15 on GPW on October 7, 2026. The expansion gives the company a measurable production-growth project, while the 2029 construction deadline and 2030 ramp-up make execution the central long-term variable.