Nordic Investment Bank (NIB), headquartered in Finland, announced that it is lending EUR 60 million ($80 million) to Boliden, a Sweden-based copper and zinc supplier. The loan will be used to finance Boliden’s increased electronic scrap recycling capacity at its Rönnskär, Sweden smelter.
The majority of the investment will go toward installing a new furnace at the plant’s copper smelter. The expansion, which began this year, is expected to come on-line at the beginning of 2012. Once the expansion is completed, the facility will nearly triple its capacity and process 120,000 metric tons of electronic scrap per year.
Boliden is the third largest copper supplier and third largest zinc metals supplier in Europe.
“By financing this project, NIB helps to ensure that more electronic scrap is recycled, rather than sent to landfills. With this expansion, Boliden can handle more of the ever growing mountain of electronic scrap,” says Johnny Åkerholm, president and CEO of NIB.
NIB provides long-term financing to the energy, environmental, transport, logistics and communications, and innovation sectors for projects that strengthen competitiveness and enhance the environment.
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