Aurubis AG, a leading global provider of non-ferrous metals and one of the largest copper recyclers worldwide, has signed a €200 million ( US$235.9 million ) loan with the European Investment Bank ( EIB ).

The five-year loan will support investments 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.

Both projects reinforce sustainable metal production and support key European Union policy objectives such as economic growth, regional development, and sustainable business practices to create new jobs.

The financing commitment represents the first EIB financing for the sector since the adoption early this year of a strategy to secure Europe’s access to critical raw materials.

As part of its corporate strategy, Aurubis is investing €120 million to expand the tankhouse at its Bulgarian production site and boost cathode production to cover growing European demand for copper.

This is the largest single investment at the Bulgarian plant since its acquisition in 2008 and represents a 50% increase in production at the site to 340,000 tonnes of refined copper per year.

The loan will also support the €190 million Complex Recycling Hamburg ( CRH ) investment programme at the Northern Germany site. Aurubis expects operations to begin in the coming fiscal year.

The new Aurubis facility will process around 30,000 additional tonnes of recycled material along with a larger amount of complex internal smelting intermediates – closing both internal and external material loops and reinforcing the company’s contribution to the circular economy.

“With the EIB, we’re gaining a strong European partner to support our strategic investments in a sustainable future,” says Aurubis chief financial officer Steffen Hoffmann. “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.”