Aurubis secures €200m EIB loan to expand copper and metal recycling

The five-year loan – the EIB’s first financing in the sector since adopting its new strategy one critical raw materials earlier this year – will fund an expansion of copper refining in Bulgaria and a recycling and environmental investment programme at the company’s headquarters.

Steffen Hoffmann, Chief Financial Officer at Aurubis, said: “With the EIB, we’re gaining a strong European partner to support our strategic investments in a sustainable future.

“This financing commitment acknowledges the social relevance and outstanding quality of our investment projects. The loan’s attractive terms compared to market conditions enable us to further diversify our financing base.”

Capacity to double at Bulgaria facility

Aurubis is investing €120 million to expand the tankhouse at its Bulgarian production site in Pirdop, the largest single investment at the site since the company acquired the facility in 2008.

Once commissioned in the 2025/26 financial year, the new capacity is expected to increase refined copper cathode output by around 50% to 340,000 tonnes per year.

Nicola Beer, Vice President of the EIB, commented: “Copper is the hidden backbone of our modern lives – it keeps the lights on in our homes and powers the smartphone in our pockets, while also driving innovation in electric cars and renewable energy.”

Expanded metals recycling in Hamburg

EIB financing will also contribute to the €190 million Complex Recycling Hamburg (CRH) programme.

Due to start operations in the next financial year, Aurubis’ Hamburg facility aims to process an additional 30,000 tonnes of recycled materials annually.

The site will process copper and alloy scrap, PCBs and electronics, and precious metal materials.

Alongside this, the project will include a larger amount of complex smelting intermediates, expecting to close both internal and external material loops.

Beer added: “Securing critical raw materials like copper and expanding recycling activities in Europe are essential to Europe’s resilience, sustainable development, and industrial competitiveness.”

“The EIB’s first loan following the adoption of our new broad-ranging critical raw materials strategy will boost copper recycling, fortify European value chains, and advance implementation of the EU Critical Raw Materials Act.”