EIB Invests In Copper Production Facility In Spain

(MENAFN- Trend News Agency) BAKU, Azerbaijan, December 3. The European Investment Bank (EIB) and Andalusian company Cunext have signed a 30 million euro loan to finance the construction of a copper cathode production plant in Córdoba, Trend reports.

According to the EIB, this facility will use recycled materials, specifically copper anodes, to produce high-purity copper through state-of-the-art electrolysis technology. The move aims to reduce reliance on primary copper sourced from mining and support the transition to a circular economy.

The EIB's financing, supported by the InvestEU program, is part of its efforts to promote sustainable production processes and strengthen the EU's strategic autonomy in raw materials. The project aligns with the EU's circular economy goals and Spain's Circular Spain 2030 strategy, contributing to the green transition and industrial development in the region.

EIB's Head of Corporate Financing for Spain, Antonio Lorenzo, highlighted that the loan would help integrate more recycled materials into the copper production chain, enhancing the EU's resource efficiency. The plant is expected to generate local jobs and support the region's industrial growth.

Cunext Chairman Dámaso Quintana expressed gratitude for the EIB's support, noting that the financing would simplify the project's implementation and enhance the sustainability of the company's copper production operations.

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