Cunext Copper Expands Green Loan to €35 Million for New Córdoba Factory
Cunext Copper has extended its green and sustainable syndicated loan to nearly €35 million, funding the expansion of its facilities in Córdoba. The financing will support the installation of a new furnace for the production of anodes from secondary (scrap) copper, increasing output by an additional 40,000 tonnes per year. The loan, provided by the Official Credit Institute (ICO), Caja Rural de Navarra, and EBN Banco, is insured by Cesce as part of Spain's strategic investment initiatives.
This expansion is part of Cunext's broader strategic investment plan, which includes the installation of a plant for producing grade A copper cathodes with 99.99% purity using an electrolysis process. The plan focuses on modernizing production and supports the energy transition towards renewable sources, electrification of vehicles, and improvements in the electricity grid.
Cunext's investment strategy will see a total of over €230 million invested in the coming years, aimed at supporting decarbonization, the electrification of transport, and digitalization of smart grids. The company expects to close 2024 with revenue of around €1.8 billion, with 80% of production destined for international markets, and over 50% of sales directly exported to more than 50 countries.
