NKT strikes €6Bn agreement to secure copper for power cables

The 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 says its need for copper continues to grow in line with the company’s expansion of production facilities in order to meet demand for power cable solutions. Ensuring access to reliable copper supply sources is essential to maintaining NKT’s competitiveness and strengthening the resilience of its value chain.

Guided by a long‑term perspective on copper market developments, the company has strengthened its security of supply for the coming decade through the renewed agreement with KGHM. NKT said 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.  

NKT president and chief executive Claes Westerlind said, “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 longstanding, trusted partner to NKT, consistently demonstrating strong operational performance and high‑quality output. By strengthening this relationship, we are reinforcing the robustness of our supply chain, reducing our exposure to market volatility and ensuring a stable foundation for NKT’s continued growth.”

KGHM operates across the copper value chain, from mining, smelting, refining and recycling to rod manufacturing. The new deal means NKT can leverage KGHM’s vertically integrated production capabilities and strong European footprint.