EIB Funds Circular Economy Copper Production in Spain

The European Investment Bank (EIB) has signed a 30 million euro loan agreement with Andalusian company Cunext to finance the construction of a copper cathode production plant in Córdoba. The facility will use recycled materials, specifically copper anodes, to produce high-purity copper through advanced electrolysis technology, aiming to reduce reliance on primary copper sourced from mining and support the shift to a circular economy.

The EIB's financing, supported by the InvestEU program, is part of broader efforts to promote sustainable production processes and enhance 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.

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

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