Aurubis Commits to Significant Investments in Hamburg Amidst Green Transition
Aurubis, Europe's foremost copper group, has disclosed robust investment plans for its Hamburg base and other key European locations, targeting a comprehensive shift to climate-neutral production by mid-century.
Strategic Investment without Subsidy Dependence
Roland Harings, the Group CEO, clarified that Aurubis isn't seeking to engage in subsidy-driven competition between the EU and the USA. Investments, he stressed, should be inherently profitable, not subsidy-reliant. Harings expressed contentment with industrial electricity prices between 50 to 60 euros, contrasting the current higher rates in Germany.
Preparing for Electric Car Battery Recycling
Aurubis is scouting locations within Europe for a dedicated facility to recycle electric car batteries, anticipating a surge in availability by 2027. Sites across several countries, including its Hamburg plant, are being considered, emphasizing the need for a European base.
Heavy Investments in Hamburg's Operations
Focusing on its Hamburg operations, where a substantial segment of its workforce is employed, Aurubis plans significant capital infusion. This includes a scheduled shutdown for extensive upgrades, a €100 million project to channel process heat into Hamburg's grid, and a €45 million investment towards modernizing furnaces for hydrogen-utilized copper production, marking the firm's strides towards environmental responsibility and operational modernization.
