The European Bank for Reconstruction and Development (EBRD) has announced a significant loan of up to €55 million to Assarel-Medet AD, a leading copper producer in Bulgaria, aimed at modernising and decarbonising its mining operations. The agreement was formalised in London by Jackie Powell, EBRD Managing Director for the Corporate Sector, and Dimitar Tsotsorkov, Chairman of the Company’s Supervisory Board, marking a pivotal step towards sustainable mining practices in the region.
This partnership follows an extensive evaluation of Assarel-Medet AD, which began in late 2025, encompassing legal, technical, environmental, and social due diligence with stringent compliance standards. The EBRD highlighted that Assarel-Medet has consistently invested in modernising its operations and has demonstrated a commitment to sustainable development through the integration of renewable energy and resource efficiency.
The funds from the EBRD will be allocated towards capital expenditures that align with the company’s long-term sustainable development programme. Key initiatives include the modernisation of production facilities, geological surveys at the Assarel mine, and investments in renewable energy production capabilities. These enhancements are anticipated to boost production efficiency while simultaneously reducing emissions associated with electricity consumption.
The EBRD’s announcement underscored the importance of supporting low-carbon copper production, which is vital for achieving both national and European sustainability goals. Copper is recognised as a critical raw material for electrification, renewable energy infrastructure, and electric mobility, with approximately 68% of the project qualifying as green financing.
Jackie Powell remarked that this initiative exemplifies how targeted financing can bolster the sustainable development of critical raw materials in Europe. By merging operational improvements with renewable energy integration, Assarel-Medet is enhancing its competitiveness while aligning with the objectives of the green transition.
Dimitar Tsotsorkov expressed satisfaction with the collaboration, emphasising the importance of adhering to high environmental, social, and governance (ESG) standards as a major supplier of copper to the European industry and energy transition. He acknowledged the constructive support from the Bulgarian government and the EBRD as they strive to modernise Assarel-Medet responsibly and sustainably.
The EBRD’s support for greener copper mining in Bulgaria marks a significant milestone in the pursuit of sustainable practices within the mining sector, reflecting a broader commitment to environmental stewardship and responsible resource management.
