EIB Invests In Copper Production Facility In Spain
Date
12/3/2024 3:10:09 PM
(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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