Lumina Metals starts pre-feasibility study for Nowa Sól copper-silver project in Poland

• Lumina Metals reported H1 2026 progress at its Nowa Sól underground copper-silver project in Poland, following completion of a preliminary economic assessment.
• PEA outlined two mine-shaft complexes targeting annual output of 290,000 tonnes of copper and 28 million ounces of silver in years 1–10.
• At US$4.75/lb copper, US$37.50/oz silver: pre-tax NPV7% US$8.3 billion; post-tax NPV7% US$1.6 billion; post-tax IRR 10.8%.
• Pre-feasibility study with Fluor started; completion targeted in the second half of 2027.
• Signed a non-binding LOI with KGHM to discuss future copper concentrate supply to its Polish smelters.

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