Lumina Metals plans to build a copper mine in Poland in the Nowa Sól region in the Lubusz Voivodeship. The project may be one of the largest mining investments in the country in years.
Lumina Metals has been operating in Poland since 2011 and already has other projects underway, including the development of concessions in the Mozów and Sulmierzyce regions. For over a decade, the company has conducted extensive geological research and exploration in search of both silver and copper.
According to industry data cited by Do Rzeczy, the deposit in Nowa Sól could contain 10-11 million tons of copper and significant amounts of silver, with estimates stating that the site holds approximately 20 percent of the known reserves of these minerals in Poland.
The deposit has been identified as a high geological category (C1), meaning its parameters are well-documented. Geological documentation has already been submitted to the Ministry of Climate and Environment, and the company is preparing for the next stage: obtaining a mining license.
The project is currently in the mine design phase, with environmental and technical analyses being conducted. According to Lumina, the process of obtaining all necessary permits could take several more years, with key administrative decisions made around 2030.
To date, Lumina Metals has invested approximately PLN 500 million (€118 million) in exploration and documentation work in Poland. The total cost of building the mine, including infrastructure, could reach tens of billions of zlotys. For this reason, the company is considering securing financing through capital markets, including a potential stock exchange debut.
A key element of the project is collaboration with KGHM Polska Miedź to deliver copper concentrate from the new mine to smelters in Głogów.
At the same time, investment in Poland faces barriers. Company representatives point primarily to high fiscal burdens – the total taxation of mining activities (including the copper and silver tax, in effect since 2012) could reach approximately 70 percent.
