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NKT signs €6 billion copper supply deal with KGHM
Denmark-based power cable manufacturer NKT has renewed its long-term copper supply agreement with Polish mining and smelting group KGHM Polska Miedź, securing European-produced copper for the period 2028–2036 in a deal valued at an estimated EUR 6 billion.
The new agreement extends the existing contract by nine years. The current supply agreement between the companies remains valid until the end of 2027.
NKT states that the renewed contract supports its growing demand for copper as it continues to expand production capacity to meet high global demand for power cable solutions. By securing long-term access to copper from a European supplier, the company aims to reduce exposure to market volatility and geopolitical risks, while strengthening the resilience of its value chain.
KGHM operates across the full copper value chain, including mining, smelting, refining, recycling and wire rod production. Under the agreement, NKT will source a significant share of its future copper requirements from KGHM’s European operations.
In a press release, NKT CEO Claes Westerlind said the extended partnership ensures long-term supply security and provides a stable foundation for the company’s continued growth. He added that the agreement reinforces the robustness of NKT’s supply chain.
According to the companies, the total volume of copper covered by the extension equals the production of an installation cable that can span the Earth 1,000 times.
KGHM’s fabrication facilities and smelters are Copper Mark certified, and the company has stated its ambition to further reduce the carbon intensity of its copper products during the contract period.
