23 May | Other

Poland's finance minister announces copper mining tax cuts from 2026

Poland's finance minister announces copper mining tax cuts from 2026

On Friday, Polish Finance Minister Andrzej Domanski announced a cut in the country's copper mining tax from 2026. He said the initiative will support national producers by lowering their costs. The reform also provides for deductions related to investment spending by companies supplying European markets with the red metal. According to Reuters, the tax on mineral extraction, including copper, was introduced in Poland 13 years ago, in 2012.

The country's largest copper miner is KGHM. The company is of great importance not only for Poland itself, but also for other European countries. It provides approximately 85% of the region's total copper supply, says Minister of State Assets Jakub Jaworowski.

According to its annual report, KGHM paid a tax of 3.9 billion zlotys (more than $1 billion) for 2024. If the payment system is modernized from 2026, the company’s tax revenue will drop by about 10 billion zlotys ($2.7 billion) in 10 years. National copper producers' spending will correspondingly decline by the same amount, Reuters reports.

Anton Volkov MarketCheese
Period: 31.07.2025 Expectation: 4000 pips
Buying bitcoin with a target of $122,000 amid oversold conditions
Today at 10:09 AM 35
Period: 01.08.2025 Expectation: 3000 pips
Quarterly report risks triggering Tesla stock correction
Today at 07:36 AM 27
Period: 01.08.2025 Expectation: 2300 pips
Selling SPX down to 6070
Today at 05:46 AM 17
Period: 25.07.2025 Expectation: 80 pips
Buying Brent until it reaches $70.1 per barrel
Yesterday at 10:28 AM 60
Period: 28.07.2025 Expectation: 1113 pips
Selling SPX ahead of Alphabet and Tesla earnings reports
Yesterday at 10:10 AM 24
Gold buy
Period: 28.07.2025 Expectation: 3000 pips
Gold will attempt to return to its upward trend and 3400 level
Yesterday at 09:53 AM 78
Go to forecasts