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Poland to cut copper mining tax from 2026, finance minister says
Published by Global Banking & Finance Review®
Posted on May 23, 2025
1 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on May 23, 2025
1 min readLast updated: January 23, 2026
Poland will reduce its copper mining tax from 2026, introducing deductions for investment spending to support producers like KGHM.
WARSAW (Reuters) -Poland's copper mining tax will fall from next year under a new system that will provide deductions related to investment spending, Polish finance minister Andrzej Domanski said on Friday.
The tax on mineral extraction, including copper, was introduced in 2012. Poland's biggest copper miner KGHM paid 3.87 billion zlotys in tax in 2024, according to its annual report.
Domanski said the tax cut and the introduction of investment spending deductions would lower tax revenues by an estimated 10 billion zlotys ($2.66 billion) over ten years and reduce costs for copper producers by the same amount.
"The fact that KGHM is a supplier of about 85% of copper in Europe is absolutely crucial," Minister of State Assets Jakub Jaworowski said.
"By taking care of investments in Poland, by taking care of the development of KGHM, we also take care of the collective security of the West and the European Union."
($1 = 3.7545 zlotys)
(Reporting by Karol Badohal. Writing by Pawel Florkiewicz. Editing by Jane Merriman)
Poland's copper mining tax will be reduced starting in 2026, with a new system that includes deductions for investment spending.
KGHM, Poland's largest copper miner, paid 3.87 billion zlotys in tax in 2024 according to its annual report.
The tax cut and investment deductions are estimated to lower tax revenues by about 10 billion zlotys ($2.66 billion) over the next ten years.
KGHM supplies approximately 85% of copper in Europe, making its financial health crucial for the region's supply chain.
The government believes that supporting KGHM's investments will enhance collective security for the West and the European Union.
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