Aurubis, a major European copper producer, reported a 4% decrease in copper cathode output. This totaled 578,000 tons for the 2023-24 fiscal year. The Hamburg facility experienced a 30% production drop. This followed a maintenance shutdown. However, the Pirdop site in Bulgaria maintained strong performance.
Pirdop Expansion to Boost Copper Production
Aurubis is expanding its Pirdop plant. This tankhouse expansion will increase refined copper output. Output will rise by 50%, from 229,000 tons to 340,000 tons. The upgraded facility will be operational by the second half of 2026. This expansion aims to meet growing copper demand. SuperMetalPrice views this as a strategic move.
Recycling Growth Offsets Concentrate Decline
Aurubis’ recycling division saw a 2% output increase. This reached 514,000 tons. The Olen plant in Belgium led this growth. The Lunen facility in Germany saw a 5% increase. However, concentrate throughput fell by 2%. The Hamburg mine experienced a 19% decline. The Pirdop site saw a 12% increase.
Operating Profit Rises Due to Copper Premiums
Aurubis achieved a 19% increase in operating profit. This reached €413 million ($436 million). Higher copper premiums drove this growth. This offset the production decline. Aurubis focuses on capacity expansion and recycling. This maintains its strong position in the copper market.
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