diff --git a/CHANGELOG.md b/CHANGELOG.md
index 88887d0722..1c83dfd0e0 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -51,6 +51,8 @@ Main (unreleased)
   for `discovery.*`  is reloaded in such a way that no new targets were
   discovered. (@ptodev, @thampiotr)
 
+- Fix a memory leak which would occur any time `loki.process` had its configuration reloaded. (@ptodev)
+
 v1.3.0
 -----------------
 
diff --git a/internal/component/loki/process/process.go b/internal/component/loki/process/process.go
index 35785fe020..d78405030a 100644
--- a/internal/component/loki/process/process.go
+++ b/internal/component/loki/process/process.go
@@ -101,7 +101,6 @@ func (c *Component) Run(ctx context.Context) error {
 		if c.entryHandler != nil {
 			c.entryHandler.Stop()
 		}
-		close(c.processIn)
 		c.mut.RUnlock()
 	}()
 	wg := &sync.WaitGroup{}
@@ -138,8 +137,9 @@ func (c *Component) Update(args component.Arguments) error {
 		if err != nil {
 			return err
 		}
-		c.entryHandler = loki.NewEntryHandler(c.processOut, func() { pipeline.Cleanup() })
-		c.processIn = pipeline.Wrap(c.entryHandler).Chan()
+		entryHandler := loki.NewEntryHandler(c.processOut, func() { pipeline.Cleanup() })
+		c.entryHandler = pipeline.Wrap(entryHandler)
+		c.processIn = c.entryHandler.Chan()
 		c.stages = newArgs.Stages
 	}
 
diff --git a/internal/component/loki/process/process_test.go b/internal/component/loki/process/process_test.go
index 92825ec2f8..c64bdfd40f 100644
--- a/internal/component/loki/process/process_test.go
+++ b/internal/component/loki/process/process_test.go
@@ -7,6 +7,7 @@ import (
 	"fmt"
 	"os"
 	"strings"
+	"sync"
 	"testing"
 	"time"
 
@@ -321,6 +322,8 @@ stage.labels {
 }
 
 func TestEntrySentToTwoProcessComponents(t *testing.T) {
+	defer goleak.VerifyNone(t, goleak.IgnoreTopFunction("go.opencensus.io/stats/view.(*worker).start"))
+
 	// Set up two different loki.process components.
 	stg1 := `
 forward_to = []
@@ -342,13 +345,16 @@ stage.static_labels {
 	args1.ForwardTo = []loki.LogsReceiver{ch1}
 	args2.ForwardTo = []loki.LogsReceiver{ch2}
 
+	ctx, ctxCancel := context.WithCancel(context.Background())
+	defer ctxCancel()
+
 	// Start the loki.process components.
 	tc1, err := componenttest.NewControllerFromID(util.TestLogger(t), "loki.process")
 	require.NoError(t, err)
 	tc2, err := componenttest.NewControllerFromID(util.TestLogger(t), "loki.process")
 	require.NoError(t, err)
-	go func() { require.NoError(t, tc1.Run(componenttest.TestContext(t), args1)) }()
-	go func() { require.NoError(t, tc2.Run(componenttest.TestContext(t), args2)) }()
+	go func() { require.NoError(t, tc1.Run(ctx, args1)) }()
+	go func() { require.NoError(t, tc2.Run(ctx, args2)) }()
 	require.NoError(t, tc1.WaitExports(time.Second))
 	require.NoError(t, tc2.WaitExports(time.Second))
 
@@ -362,7 +368,7 @@ stage.static_labels {
 	require.NoError(t, err)
 
 	go func() {
-		err := ctrl.Run(context.Background(), lsf.Arguments{
+		err := ctrl.Run(ctx, lsf.Arguments{
 			Targets: []discovery.Target{{"__path__": f.Name(), "somelbl": "somevalue"}},
 			ForwardTo: []loki.LogsReceiver{
 				tc1.Exports().(Exports).Receiver,
@@ -400,69 +406,103 @@ stage.static_labels {
 	}
 }
 
-func TestDeadlockWithFrequentUpdates(t *testing.T) {
-	stg := `stage.json { 
-			    expressions    = {"output" = "log", stream = "stream", timestamp = "time", "extra" = "" }
-				drop_malformed = true
-		    }
-			stage.json {
-			    expressions = { "user" = "" }
-				source      = "extra"
-			}
-			stage.labels {
-			    values = { 
-				  stream = "",
-				  user   = "",
-				  ts     = "timestamp",
-			    }
-			}`
+type testFrequentUpdate struct {
+	t *testing.T
+	c *Component
 
-	// Unmarshal the Alloy relabel rules into a custom struct, as we don't have
-	// an easy way to refer to a loki.LogsReceiver value for the forward_to
-	// argument.
-	type cfg struct {
-		Stages []stages.StageConfig `alloy:"stage,enum"`
+	receiver1 loki.LogsReceiver
+	receiver2 loki.LogsReceiver
+
+	keepSending   atomic.Bool
+	keepReceiving atomic.Bool
+	keepUpdating  atomic.Bool
+
+	wgLogSend sync.WaitGroup
+	wgRun     sync.WaitGroup
+	wgUpdate  sync.WaitGroup
+
+	lastSend atomic.Value
+
+	stop func()
+}
+
+func startTestFrequentUpdate(t *testing.T, cfg string) *testFrequentUpdate {
+	res := testFrequentUpdate{
+		t:         t,
+		receiver1: loki.NewLogsReceiver(),
+		receiver2: loki.NewLogsReceiver(),
 	}
-	var stagesCfg cfg
-	err := syntax.Unmarshal([]byte(stg), &stagesCfg)
+
+	ctx, cancel := context.WithCancel(context.Background())
+
+	res.keepSending.Store(true)
+	res.keepReceiving.Store(true)
+	res.keepUpdating.Store(true)
+
+	res.stop = func() {
+		res.keepUpdating.Store(false)
+		res.wgUpdate.Wait()
+
+		res.keepSending.Store(false)
+		res.wgLogSend.Wait()
+
+		cancel()
+		res.wgRun.Wait()
+
+		close(res.receiver1.Chan())
+		close(res.receiver2.Chan())
+	}
+
+	var args Arguments
+	err := syntax.Unmarshal([]byte(cfg), &args)
 	require.NoError(t, err)
 
-	ch1, ch2 := loki.NewLogsReceiver(), loki.NewLogsReceiver()
+	args.ForwardTo = []loki.LogsReceiver{res.receiver1, res.receiver2}
 
-	// Create and run the component, so that it can process and forwards logs.
 	opts := component.Options{
 		Logger:         util.TestAlloyLogger(t),
 		Registerer:     prometheus.NewRegistry(),
 		OnStateChange:  func(e component.Exports) {},
 		GetServiceData: getServiceData,
 	}
-	args := Arguments{
-		ForwardTo: []loki.LogsReceiver{ch1, ch2},
-		Stages:    stagesCfg.Stages,
-	}
 
-	c, err := New(opts, args)
+	res.c, err = New(opts, args)
 	require.NoError(t, err)
-	ctx, cancel := context.WithCancel(context.Background())
-	defer cancel()
-	go c.Run(ctx)
 
-	var lastSend atomic.Value
-	// Drain received logs
+	res.wgRun.Add(1)
 	go func() {
-		for {
+		res.c.Run(ctx)
+		res.wgRun.Done()
+	}()
+
+	return &res
+}
+
+// Continuously receive the logs from both channels
+func (r *testFrequentUpdate) drainLogs() {
+	drainLogs := func() {
+		r.lastSend.Store(time.Now())
+	}
+
+	r.wgLogSend.Add(1)
+	go func() {
+		for r.keepReceiving.Load() {
 			select {
-			case <-ch1.Chan():
-				lastSend.Store(time.Now())
-			case <-ch2.Chan():
-				lastSend.Store(time.Now())
+			case <-r.receiver1.Chan():
+				drainLogs()
+			case <-r.receiver2.Chan():
+				drainLogs()
 			}
 		}
+		r.wgLogSend.Done()
 	}()
+}
 
-	// Continuously send entries to both channels
+// Continuously send entries to both channels
+func (r *testFrequentUpdate) sendLogs() {
+	r.wgLogSend.Add(1)
 	go func() {
-		for {
+		for r.keepSending.Load() {
 			ts := time.Now()
 			logEntry := loki.Entry{
 				Labels: model.LabelSet{"filename": "/var/log/pods/agent/agent/1.log", "foo": "bar"},
@@ -471,29 +511,87 @@ func TestDeadlockWithFrequentUpdates(t *testing.T) {
 					Line:      logline,
 				},
 			}
-			c.receiver.Chan() <- logEntry
+			select {
+			case r.c.receiver.Chan() <- logEntry:
+			default:
+				// continue
+			}
 		}
+		r.keepReceiving.Store(false)
+		r.wgLogSend.Done()
 	}()
+}
 
-	// Call Updates
-	args1 := Arguments{
-		ForwardTo: []loki.LogsReceiver{ch1},
-		Stages:    stagesCfg.Stages,
-	}
-	args2 := Arguments{
-		ForwardTo: []loki.LogsReceiver{ch2},
-		Stages:    stagesCfg.Stages,
-	}
+func (r *testFrequentUpdate) updateContinuously(cfg1, cfg2 string) {
+	var args1 Arguments
+	err := syntax.Unmarshal([]byte(cfg1), &args1)
+	require.NoError(r.t, err)
+	args1.ForwardTo = []loki.LogsReceiver{r.receiver1}
+
+	var args2 Arguments
+	err = syntax.Unmarshal([]byte(cfg2), &args2)
+	require.NoError(r.t, err)
+	args2.ForwardTo = []loki.LogsReceiver{r.receiver2}
+
+	r.wgUpdate.Add(1)
 	go func() {
-		for {
-			c.Update(args1)
-			c.Update(args2)
+		for r.keepUpdating.Load() {
+			r.c.Update(args1)
+			r.c.Update(args2)
 		}
+		r.wgUpdate.Done()
 	}()
+}
+
+func TestDeadlockWithFrequentUpdates(t *testing.T) {
+	defer goleak.VerifyNone(t, goleak.IgnoreTopFunction("go.opencensus.io/stats/view.(*worker).start"))
+
+	cfg1 := `stage.json {
+			    expressions    = {"output" = "log", stream = "stream", timestamp = "time", "extra" = "" }
+				drop_malformed = true
+		    }
+			stage.json {
+			    expressions = { "user" = "" }
+				source      = "extra"
+			}
+			stage.labels {
+			    values = {
+				  stream = "",
+				  user   = "",
+				  ts     = "timestamp",
+			    }
+			}
+			forward_to = []`
+
+	cfg2 := `stage.json {
+			    expressions    = {"output" = "log", stream = "stream", timestamp = "time", "extra" = "" }
+				drop_malformed = true
+		    }
+			stage.labels {
+			    values = {
+				  stream = "",
+				  ts     = "timestamp",
+			    }
+			}
+			forward_to = []`
+
+	r := startTestFrequentUpdate(t, `forward_to = []`)
+
+	// Continuously send entries to both channels
+	r.sendLogs()
+
+	// Continuously receive entries on both channels
+	r.drainLogs()
+
+	// Call Updates
+	r.updateContinuously(cfg1, cfg2)
 
 	// Run everything for a while
 	time.Sleep(1 * time.Second)
-	require.WithinDuration(t, time.Now(), lastSend.Load().(time.Time), 300*time.Millisecond)
+	require.WithinDuration(t, time.Now(), r.lastSend.Load().(time.Time), 300*time.Millisecond)
+
+	// Clean up
+	r.stop()
 }
 
 func getServiceData(name string) (interface{}, error) {
@@ -505,6 +603,62 @@ func getServiceData(name string) (interface{}, error) {
 	}
 }
 
+// Make sure there are no goroutine leaks when the config is updated.
+// Goroutine leaks often cause memory leaks.
+func TestLeakyUpdate(t *testing.T) {
+	defer goleak.VerifyNone(t, goleak.IgnoreTopFunction("go.opencensus.io/stats/view.(*worker).start"))
+
+	tester := newTester(t)
+	defer tester.stop()
+
+	forwardArgs := `
+	// This will be filled later
+	forward_to = []`
+
+	numLogsToSend := 1
+
+	cfg1 := `
+	stage.metrics { 
+        metric.counter {
+          name = "paulin_test1"
+          action = "inc"
+          match_all = true
+        }
+	}` + forwardArgs
+
+	cfg2 := `
+	stage.metrics { 
+        metric.counter {
+          name = "paulin_test2"
+          action = "inc"
+          match_all = true
+        }
+	}` + forwardArgs
+
+	metricsTemplate1 := `
+	# HELP loki_process_custom_paulin_test1
+	# TYPE loki_process_custom_paulin_test1 counter
+	loki_process_custom_paulin_test1{filename="/var/log/pods/agent/agent/1.log",foo="bar"} %d
+	`
+
+	metricsTemplate2 := `
+	# HELP loki_process_custom_paulin_test2
+	# TYPE loki_process_custom_paulin_test2 counter
+	loki_process_custom_paulin_test2{filename="/var/log/pods/agent/agent/1.log",foo="bar"} %d
+	`
+
+	metrics1 := fmt.Sprintf(metricsTemplate1, numLogsToSend)
+	metrics2 := fmt.Sprintf(metricsTemplate2, numLogsToSend)
+
+	tester.updateAndTest(numLogsToSend, cfg1, "", metrics1)
+	tester.updateAndTest(numLogsToSend, cfg2, "", metrics2)
+
+	for i := 0; i < 100; i++ {
+		tester.updateAndTest(numLogsToSend, cfg1, "", metrics1)
+		tester.updateAndTest(numLogsToSend, cfg2, "", metrics2)
+	}
+}
+
 func TestMetricsStageRefresh(t *testing.T) {
 	tester := newTester(t)
 	defer tester.stop()
diff --git a/internal/component/mimir/rules/kubernetes/events_test.go b/internal/component/mimir/rules/kubernetes/events_test.go
index eb2c268650..8bd09bd6b8 100644
--- a/internal/component/mimir/rules/kubernetes/events_test.go
+++ b/internal/component/mimir/rules/kubernetes/events_test.go
@@ -275,7 +275,7 @@ func TestAdditionalLabels(t *testing.T) {
 		require.NoError(t, err)
 		require.Equal(t, 1, len(rules))
 		return len(rules) == 1
-	}, time.Second, 10*time.Millisecond)
+	}, 3*time.Second, 10*time.Millisecond)
 
 	// The map of rules has only one element.
 	for ruleName, rule := range rules {