Tusk promotes Poland as ‘oasis of stability’ for investors as Canadian miner Lumina Metals lists on Warsaw exchange
Prime Minister Donald Tusk pitched Poland as a safe haven for long‑term capital at the Warsaw Stock Exchange on Tuesday, as Canadian miner Lumina Metals marked its first day of trading with a 19% share price jump.
Tusk pitches Poland as safe haven
Speaking at the ‘Polska Inwestuje’ event in the Warsaw Stock Exchange building, Prime Minister Donald Tusk said the exchange is ‘one of the key images of Poland and its economy’. He argued that Poland’s investment attractiveness is growing month by month, recognised by foreign, domestic and individual investors alike. The core of that appeal, he stressed, is trust.
Being an oasis of stability and predictability is perhaps our greatest success.
Tusk contrasted this with the ‘dramatic things happening around Poland’ and the proximity to ‘the theatre of war – the most dangerous armed conflict since the Second World War on our continent’. He said the fact that investors are still willing to commit capital over decades shows that Poland’s attractiveness outweighs the objective threats.
Lumina Metals debuts with strong gain
Lumina Metals, a Canadian mining group that has been running an exploration programme in Poland since 2011, made its Warsaw debut on Tuesday. The stock opened 19.05% higher, reaching PLN 35.5 per share. The listing follows an initial public offering in Toronto in April 2026 and is structured as a dual listing.
After consultations with KGHM – the most important actor on this market from our point of view – and after very careful talks with our largest mining company, we concluded that this increases the chances not only of the Lubuskie region but of Poland as an absolutely key future producer and part of the supply chain for European and NATO countries.
- Lumina Metals begins exploration programme in Lubuskie and Wielkopolskie regions.
- Receives C1 resource category for the Nowa Sól copper deposit.
- Completes IPO and lists on the Toronto Stock Exchange.
- Dual‑lists on the Warsaw Stock Exchange; shares open 19% higher.
- Plans to apply for a mining concession by end of decade.
Copper: a strategic resource for Europe
The Prime Minister tied the Lumina Metals listing to a broader vision of Poland becoming a dominant player in the copper market. He said metals such as copper are at the centre of a ‘great global battle’ for the materials needed by the most advanced technologies. He argued that copper carries enormous weight for energy and military security.
Everyone who knows at least a little – and in fact everyone already knows – what is needed for the most modern technologies, what the great global battle is really about today, knows that it is among other things goods such as rare metals, but in our case it is copper.
Tusk told investors that those who understand the opportunity faster will ‘earn more with us’. He also revealed that the government was about to sign a package of legal, ethical and political‑will recommendations to support Polish firms in investment processes, insisting that this pro‑domestic tilt does not scare off foreign capital.
Funds earmarked for Nowa Sól mine
The IPO comprised a new share issue worth CAD 312.5 million and a sale of existing shares for CAD 93.7 million, with an over‑allotment option of CAD 15 million, bringing the total possible transaction to CAD 421.2 million (around PLN 1.12 billion). Lumina Metals intends to spend the bulk of the proceeds on drilling at its Nowa Sól site, one of three deposits it is exploring in western Poland.
CEO Jordan Pandoff told PAP Biznes that the company plans to invest about PLN 1 billion in Poland over the next five years. Lumina Metals received the C1 resource category for the Nowa Sól copper deposit in April 2025 and is now seeking a mining concession. It aims to submit a concession application before the end of this decade and to build what it describes as one of Europe’s largest copper mines.
