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    Poland’s copper boom and Lumina’s Nowa Sól mine: project and tax lens for engineers

    June 17, 2026|

    Reviewed by Joe Ashwell

    Poland’s copper boom and Lumina’s Nowa Sól mine: project and tax lens for engineers

    First reported on MINING.com

    30 Second Briefing

    Poland is backing a C$6.4 billion mine buildout by Lumina Metals near KGHM Polska Miedź’s existing operations, with the Nowa Sól project (120 sq. km, 604 Mt at 1.24% Cu and 38 g/t Ag, 51,000 m drilled) projected to deliver 390,000 t/y copper-equivalent in its first decade, roughly matching KGHM’s current Polish output. Lumina’s April IPO raised C$406.2 million and its Warsaw listing jumped up to 46%, while a letter of intent with KGHM covers future concentrate supply. CEO Jordan Pandoff warns Poland’s copper tax regime still needs further reform to make new greenfield projects competitive.

    Technical Brief

    • Nowa Sól sits in Poland’s Northern Copper Belt, directly adjacent to KGHM’s existing mines and smelters.
    • Discovery drilling on Nowa Sól began in 2014, with >51,000 m completed to date.
    • Resource is classified as measured and indicated, supporting early-stage mine planning and project finance work.
    • Government strategy is to develop a “Copper Valley” integrating mining, refining and downstream manufacturing around Lumina–KGHM hubs.
    • Letter of intent with KGHM targets future concentrate offtake, leveraging existing Polish smelting capacity.
    • Prime Minister Donald Tusk publicly endorsed Lumina–KGHM cooperation as central to Poland’s copper supply ambitions.
    • CEO Jordan Pandoff flags the current copper tax as production-disincentivising, despite recent partial relief measures.
    • Further fiscal reform is framed as a precondition for greenfield copper-silver projects beyond brownfield-adjacent expansions.

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    Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.

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