Finance
Aurubis seeks curbs to keep metal recycling materials in EU
Published by Global Banking & Finance Review®
Posted on December 4, 2025
2 min readLast updated: January 20, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on December 4, 2025
2 min readLast updated: January 20, 2026
Aurubis advocates for EU export restrictions to retain metal recycling materials, aligning with the Critical Raw Materials Act to boost sector growth.
By Bernadette Hogg and Orest Dovhan
Dec 4 (Reuters) - The CEO of Europe's largest copper producer Aurubis said on Thursday the European Union's Critical Raw Materials Act should have positive long-term effects for the sector, despite tough talks to ensure that recycling materials stay in the bloc.
The Critical Raw Materials Act came into force last year, with the 27-country bloc setting itself a target to mine 10%, recycle 25% and process 40% of its needs by 2030.
Aurubis CEO Toralf Haag said during a media call the company advocated for export restrictions and customs duties on an EU level to ensure that recycling materials remained in Europe, where he said they were urgently needed to fulfil very strong demand.
"We are in contact (with the EU) on this," Haag said, adding that he "would cautiously say that the discussions are very tough", but Aurubis was not letting up.
In an interview with Reuters, Haag said Aurubis had not seen much impact from the Critical Raw Materials Act so far, but in the longer term, it expected recycling markets in Europe to be better protected and mining exploration for copper and rare metals to increase.
Earlier on Thursday, Aurubis reported annual earnings below market expectations, weighed down by lower concentrate throughput at reduced treatment and refining charges.
Its operating pre-tax earnings fell 14% to 355 million euros ($414 million) in the year that ended on September 30, slightly below analysts' average forecast of 359 million euros in a company-provided poll.
Aurubis said the result was supported by high contributions from precious metals and sulphuric acid and high demand for copper products.
However, that was partially offset by a slight decline in recycling revenues and higher ramp-up costs and depreciation from strategic projects such as the expansion at its plant in Bulgaria, it added.
($1 = 0.8576 euros)
(Reporting by Bernadette Hogg and Orest Dovhan in Gdansk, editing by Milla Nissi-Prussak)
The Critical Raw Materials Act is a European Union regulation aimed at ensuring the EU's access to essential raw materials, promoting mining, recycling, and processing within the bloc to reduce dependency on external sources.
Metal recycling is the process of recovering scrap metal from products, buildings, and waste, then processing it to create new metal products, which helps conserve resources and reduce environmental impact.
Operating pre-tax earnings refer to a company's earnings before tax, reflecting its profitability from core business operations, excluding any non-operational income or expenses.
Demand for copper products refers to the need for copper in various industries, such as construction and electronics, driven by its properties like conductivity and malleability.
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