EIB Financing Supports Expansion of Sustainable Multimetal Production in Europe

Strategic Insights -

The European Investment Bank (EIB) and Aurubis AG, a leading global provider of non-ferrous metals, have signed a €200 million investment loan to support the expansion of sustainable multimetal production in Europe. The loan will support investment in two strategic projects at Aurubis, expanding copper refining at its Bulgarian site and scaling up metal recycling and environmental protection at its Hamburg plant.

Key Takeaways:

  • The €200 million loan has a five-year maturity and will support investment in two strategic projects at Aurubis, including expanding copper refining at its Bulgarian site and scaling up metal recycling and environmental protection at its Hamburg plant.
  • Aurubis anticipates a 50% increase in copper production in Bulgaria as part of its corporate strategy, with the expansion of the tankhouse at its Bulgarian production site and boost cathode production to cover growing European demand for copper.
  • The project will support Bulgarian economic development, boost the country's exports, and create additional jobs, with experts predicting that global demand for copper will double by 2050.
  • The EIB's loan will also back the €190 million Complex Recycling Hamburg (CRH) investment program at the North German site, which will process around 30,000 additional tons of recycled material along with a larger amount of complex internal smelting intermediates.
  • The EIB is committed to supporting projects that bolster climate action, economic growth, and technological leadership, with a focus on critical raw materials like copper and the circular economy.
  • Aurubis is a leading global provider of non-ferrous metals and one of the largest copper recyclers worldwide, with a strong commitment to sustainability and responsible business practices.

Statistics:

  • €200 million: The value of the EIB loan to support the expansion of sustainable multimetal production in Europe.
  • 5 years: The maturity of the EIB loan.
  • 50%: The expected increase in copper production in Bulgaria as part of Aurubis's corporate strategy.
  • 340,000 tons: The expected annual production of refined copper per year at the Bulgarian plant after expansion.
  • €190 million: The value of the Complex Recycling Hamburg (CRH) investment program at the North German site.
  • 30,000 tons: The expected additional tons of recycled material to be processed at the North German site.
  • 2050: The projected year in which global demand for copper will double.

Sources:

  • Aurubis AG (http://www.aurubis.com/)
  • European Investment Bank (EIB)
  • The EIB Group Strategic Initiative for Strengthening EU's Critical Raw Materials (CRM) Supply Chain
  • EU Critical Raw Materials Act