NKT has renewed its long term copper supply agreement with leading European mining and smelting company, KGHM. The renewed contract secures a stable supply of European produced copper for NKT’s power cable manufacturing over the next decade, ensuring long term availability through to 2036.
NKT’s copper demand continues to grow in line with the company’s expansion of production facilities to meet the high global demand for power cable solutions. Ensuring access to reliable copper supply sources is therefore essential to maintaining NKT’s competitiveness and strengthening the resilience of its value chain.
Guided by a long term perspective on copper market developments, NKT has strengthened its security of supply for the coming decade through the renewed agreement with KGHM. The contract serves as an enabler of NKT’s strategic ambitions of delivering reliably, sustainably and at scale, while reducing the company’s exposure to market fluctuations and geopolitical uncertainty.
“Our extended partnership with KGHM is an important step in securing the long term supply of copper that underpins our ability to deliver reliable power cable solutions to our customers. KGHM is a long standing, trusted partner to NKT, consistently demonstrating strong operational performance and high quality output. By strengthening this relationship, we reinforce the robustness of our supply chain, reduce our exposure to market volatility and ensure a stable foundation for NKT’s continued growth,” said Claes Westerlind, President & CEO of NKT.
KGHM operates across the entire copper value chain, from mining, smelting, refining, and recycling to rod manufacturing. By leveraging KGHM’s vertically integrated production capabilities and strong European footprint, NKT secures stable and reliable access to European sourced copper for a significant share of its future requirements, which is especially important given the EU’s strategy to boost resilience by supporting domestic production of critical raw materials, as well as the increasing attention paid to the local content.in supply chains.
“Our long term cooperation with NKT highlights KGHM’s position as a dependable supplier of high quality copper products in a demanding market environment. It reflects the trust we have built together and our shared commitment to supporting the energy transition. We value this partnership, and we are proud that our wire rod will continue to contribute to the advanced and sustainable solutions developed by NKT,” added Remigiusz Paszkiewicz, Acting President of the Management Board of KGHM Polska Miedz S.A.
KGHM fabrication facilities and smelters are Copper Mark certified and aligned with NKT’s commitment to responsible sourcing, robust due diligence and ethical standards for people, communities and the environment. KGHM aims to further reduce the carbon intensity of its copper products, thereby strengthening the sustainability profile of the products supplied to NKT.
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