Photo: Guille B / Unsplash

Business2 min read

EU names two KGHM projects strategic. They are worth PLN 9.5bn

The European Commission has granted strategic project status to the Retków-Grodziszcze deposit and the Integrated Recycling Smelter Legnica.

The projects are a new copper deposit and a smelter that will recover metals through recycling. The Commission took the decision under the EU Critical Raw Materials Act (CRMA). KGHM announced it on Friday 9 October. Strategic status is meant to make it easier to prepare and carry out both investments.

A new deposit

The Retków-Grodziszcze deposit, with the “Retków” shaft, is due to operate until 2055. It holds more than 100 million tonnes of ore, almost 1.5 million tonnes of copper and more than 5,000 tonnes of silver.

Copper from recycling

The second project is the Integrated Recycling Smelter Legnica. It is to produce about 135,000 tonnes of electrolytic copper and 250 tonnes of nickel a year. The project fits the EU's plans: the bloc aims for recycling to cover at least 25% of its annual consumption of strategic raw materials.

Europe needs copper

According to KGHM, the EU will need about 22 million tonnes of copper between 2020 and 2050. CEO Remigiusz Paszkiewicz says “KGHM's projects are of fundamental importance for Europe's security”.

Together the two investments are worth PLN 9.5bn. The State Treasury holds 31.79% of KGHM's shares.

Source: KGHM, Money.pl, PAP (9 Oct 2026)

More: Business →

More from Business

Business

Diesel above PLN 8 as fuel price caps rise for the weekend

From Saturday to Monday a litre of diesel may cost at most PLN 8.06, Pb95 petrol PLN 6.97 and Pb98 PLN 7.85. All fuels are getting more expensive.

Read moreShow less

Key facts

  • PLN 8.06: the maximum price of a litre of diesel for 10–12 Oct, 24 groszy more than on Friday.
  • PLN 6.97: the cap for Pb95. On Friday it was PLN 6.90.
  • PLN 7.85: the cap for Pb98, up from PLN 7.77 on Friday.
  • PLN 1 million: the maximum fine for breaking the caps.

What's next

  • On Monday the energy minister will announce maximum prices for Tuesday.
  • Reflex expects autogas to cost about PLN 3.39 per litre next week.

Source: Energy minister's notice, RMF24, Forsal, Energetyka24, Bankier.pl (9 Oct 2026)

· 2 min read
Business

Poland's 2027 budget in parliament, with a deficit of up to PLN 281.2bn

The draft budget for 2027 has passed its first reading in the Sejm. The government plans revenue of PLN 696.4bn and spending of PLN 977.6bn.

Read moreShow less

Key facts

  • PLN 281.2bn: the maximum budget deficit in 2027.
  • PLN 198.1bn for defence, or 4.51% of GDP.
  • PLN 274.1bn for health care, PLN 26.3bn more than a year earlier.
  • 3%: assumed real GDP growth. Average inflation is expected at 2.8%.

What's next

  • 2 December: second reading in the Sejm. 4 December: third reading.
  • The Senate will take up the budget on 8 December. The president then has 7 days to sign it.

Source: Draft budget act, Money.pl, TOK FM (8–9 Oct 2026)

· 2 min read