EBRD lends €55M to green Bulgarian copper miner Asarel Medet
What's the deal? The European Bank for Reconstruction and Development (EBRD)Dealroom has a profile for this one. Try Dealroom → is lending up to €55 million to Asarel MedetDealroom has a profile for this one. Try Dealroom →, a leading Bulgarian copper producer, to modernise and decarbonise its mining operations.
Where the money goes: The loan funds sustaining and exploration capital expenditure at the company's open-pit copper mine in Panagyurishte, plus investment in captive renewable energy. The aim is to improve efficiency while cutting emissions from electricity use.
Why now? Bulgaria is accelerating its green transition, and copper is a critical raw material for electrification, renewable infrastructure, and e-mobility. Around 68% of the EBRD financing qualifies as green finance.
The deal also supports corporate governance improvements, strengthening the company's compliance policies and procedures.
What they're saying: "This project demonstrates how targeted financing can support the sustainable development of critical raw material supply in Europe," said Jacqui Powell, EBRD's managing director for the corporate sector.
Chairman Dimitar Tsotsorkov said maintaining strong ESG performance is "essential to our competitiveness" as a major copper supplier to European industry.
The signal: The EBRD has invested nearly €5.2 billion across 324 projects in Bulgaria, and this loan ties critical-mineral supply to decarbonisation — a priority as Europe races to secure the raw materials behind its energy transition.
Read more: byteseu.com
Image credit: docentjoyce
