Aurubis Secures €200M EIB Loan to Boost Copper Refining and Recycling

Aurubis AG, one of the world’s largest copper recyclers and a leading provider of non-ferrous metals, has signed a landmark financing agreement with the European Investment Bank (EIB) for a €200 million loan. The five-year facility will fund two strategic investment projects aimed at expanding copper production in Bulgaria and scaling up recycling and environmental protection at the company’s Hamburg site in Germany.

A Strategic Partnership for Europe’s Raw Materials Future

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

The EIB emphasized the broader significance of the investment for European competitiveness and sustainability. Nicola Beer, Vice President of the EIB, described copper as “the hidden backbone of our modern lives,” powering smartphones, electric vehicles, renewable energy technologies, and even critical infrastructure.

“This loan is our first since adopting the EIB’s new critical raw materials strategy and supports the rollout of the EU Critical Raw Materials Act,” Beer said. “It will strengthen European copper recycling, secure value chains, and help Europe remain competitive in the energy transition.”

Expanding Copper Production in Bulgaria

A major portion of the investment will fund a €120 million expansion at Aurubis’ Bulgarian site, specifically the tankhouse facility. This represents the plant’s largest single investment since its acquisition in 2008.

The project aims to boost cathode production capacity by 50%, reaching 340,000 tons of refined copper per year once commissioned in the 2025/26 fiscal year. This expansion is expected to:

• Meet rising European demand for copper, driven by renewable energy, electric mobility, AI, and data center growth.

• Contribute to Bulgaria’s economic development through higher exports and job creation.

• Position Aurubis as a stronger regional supplier amid forecasts that global copper demand will double by 2050.

Scaling Recycling Capacity in Hamburg

The loan also supports the €190 million Complex Recycling Hamburg (CRH) program, which will enhance Aurubis’ recycling expertise and optimize material flows at its German site.

The CRH facility, expected to begin operations in the next fiscal year, will:

• Process 30,000 additional tons of recycled material annually, alongside complex smelting intermediates.

• Close material loops by handling both internal and external inputs, strengthening Aurubis’ role in the circular economy.

• Reinforce environmental protection measures by reducing waste and maximizing resource efficiency.

Supporting EU Climate and Economic Goals

Both projects align with key European Union policy objectives, including:

• Sustainable growth through greener industrial production.

• Regional development by creating jobs and fostering economic activity in Bulgaria and Germany.

• Circular economy practices that enhance recycling and reduce dependency on raw material imports.

Aurubis’ dual investments also reflect the company’s commitment to its corporate strategy, which prioritizes diversification, environmental stewardship, and meeting the material demands of Europe’s low-carbon future.

Strengthening Europe’s Resilience

The financing marks the first EIB loan for the sector since the adoption of its new strategy to secure Europe’s access to critical raw materials in early 2025. By investing in copper refining and recycling, the loan directly supports Europe’s industrial resilience, energy transition, and strategic autonomy.

As copper continues to play an indispensable role in electrification, infrastructure, and digital innovation, Aurubis’ projects are expected to enhance Europe’s ability to secure essential resources while maintaining its global competitiveness.