By Patryk Wasilewski 
 

WARSAW--Poland's copper miner KGHM Polska Miedz SA (KGH.WA) plans to spend 27 billion zlotys ($7.3 billion) on capital expenditures by 2020 in order to increase its production levels to 1 million metric tons annually, the company's Chief Financial Officer Jaroslaw Romanowski said Tuesday.

Mr. Romanowski added that KGHM's goal is to mainly increase its production levels abroad, where production costs are lower than in Poland, bringing costs down and increasing earnings before interest, taxes, depreciation and amortization to PLN9 billion a year.

"We plan Ebitda earnings to be 70% higher than last year's result," Mr. Romanowski said. The company has yet to release its full year financial results for 2014.

Thanks to its earlier acquisitions, mainly the takeover of Canadian miner Quadra FNX for 2.87 billion Canadian dollars ($2.30 billion), the Polish producer increased its production levels to around 700,000 metric tons. Now it plans to focus its future investments on expanding the existing facilities and exploration nearby.

Takeovers will be possible only in case of favorable market conditions and attractive market financing for such a project, the company added in a presentation.

Write to Patryk Wasilewski at patryk.wasilewski@wsj.com