Aurubis, a titan in non-ferrous metal production and copper recycling, has signed a €200 million ($231 million) loan agreement with the European Investment Bank to bolster metal recycling and environmental protection.
According to The European Sting, the loan has a five-year maturity, with two major focuses: the expansion of Aurubis' Bulgarian copper refining site, and the implementation of a recycling investment program at the company's Hamburg site in Germany.
Concerning copper production in Bulgaria, the funds intend to add a 50% increase in refined copper output, making the annual production amount 340,000 tons.
As copper, a supremely efficient energy conduit, is crucial to a clean energy transition, investments in this material's refinement are paramount to a sustainable world.
"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," said Nicola Beer, vice president of the EIB, per The European Sting.
Meanwhile, the program at the Hamburg site, called Complex Recycling Hamburg, supports the building of this new facility, which plans to process approximately 30,000 additional tons of recycled material.
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"Securing critical raw materials like copper and expanding recycling activities in Europe are essential to Europe's resilience, sustainable development, and industrial competitiveness," Beer added.
By reducing metal waste and promoting copper production, Aurubis and the EIB stand with those across the world seeking sustainable energy and a cleaner planet.
Others leading the charge include a group of scientists in London, who are researching alternative approaches to mining copper without disrupting the environment.
Meanwhile, a German-British duo has sought new, sustainable methods of extracting lithium, another key material for clean energy, most notably used in EV batteries.
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Giving me money back 💰 The loan to Aurubis does more than make the planet a bit more livable; it can also boost exports and create new jobs in both the Hamburg and Bulgaria locations.
With the EIB's commitment to supporting environmental policy and progress, sustainable change seems to be just around the corner.
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