The metals company now projects it will spend an additional 340 million euros ($375 million) on its Augusta, Ga. smelter. | Courtesy of Aurubis[/caption]
As construction progresses "at full steam" on its secondary smelter in Georgia, Aurubis has decided to spend an additional $276 million to double the plant's metals recovery capacity.
The Germany-headquartered metals company disclosed that it now plans to invest a total of 640 million euros ($707 million) to build the smelter in Augusta, Ga. After deciding to add a second recycling module, the plant will now have a throughput capacity of 180,000 tons per year.
The project, which broke ground in mid-2022, was previously planned to cost 300 million euros ($331 million) and have a throughput of 90,000 tons per year.
The Aurubis board in December decided to boost capital investment in the plant, which will recycle printed circuit boards, cables and other scrap materials. On March 27, the company announced it has signed a contract with German equipment manufacturer SMS Group for the second recycling module.
According to an Aurubis quarterly report released in February, the increased spending is a result of the additional recycling system, as well as inflation and adjustments for infrastructure costs. Specifically, the company is spending an additional 250 million euros ($276 million) on the second processing system and 90 million euros ($99 million) to account for infrastructure cost increases and inflation.
The quarterly report notes production at the Augusta plant is now scheduled to begin in 2026. The company forecasts the facility will produce about 170 million euros ($188 million) in earnings before interest, taxes, depreciation and amortization (EBITDA) starting in the 2026-27 fiscal year, the report stated.
[caption id="attachment_21788" align="aligncenter" width="900"] The metals company now projects it will spend an additional 340 million euros ($375 million) on its Augusta, Ga. smelter. | Courtesy of Aurubis[/caption]
As construction progresses "at full steam" on its secondary smelter in Georgia, Aurubis has decided to spend an additional $276 million to double the plant's metals recovery capacity.
The Germany-headquartered metals company disclosed that it now plans to invest a total of 640 million euros ($707 million) to build the smelter in Augusta, Ga. After deciding to add a second recycling module, the plant will now have a throughput capacity of 180,000 tons per year.
The project, which broke ground in mid-2022, was previously planned to cost 300 million euros ($331 million) and have a throughput of 90,000 tons per year.
The Aurubis board in December decided to boost capital investment in the plant, which will recycle printed circuit boards, cables and other scrap materials. On March 27, the company announced it has signed a contract with German equipment manufacturer SMS Group for the second recycling module.
According to an Aurubis quarterly report released in February, the increased spending is a result of the additional recycling system, as well as inflation and adjustments for infrastructure costs. Specifically, the company is spending an additional 250 million euros ($276 million) on the second processing system and 90 million euros ($99 million) to account for infrastructure cost increases and inflation.
The quarterly report notes production at the Augusta plant is now scheduled to begin in 2026. The company forecasts the facility will produce about 170 million euros ($188 million) in earnings before interest, taxes, depreciation and amortization (EBITDA) starting in the 2026-27 fiscal year, the report stated.
The metals company now projects it will spend an additional 340 million euros ($375 million) on its Augusta, Ga. smelter. | Courtesy of Aurubis[/caption]
As construction progresses "at full steam" on its secondary smelter in Georgia, Aurubis has decided to spend an additional $276 million to double the plant's metals recovery capacity.
The Germany-headquartered metals company disclosed that it now plans to invest a total of 640 million euros ($707 million) to build the smelter in Augusta, Ga. After deciding to add a second recycling module, the plant will now have a throughput capacity of 180,000 tons per year.
The project, which broke ground in mid-2022, was previously planned to cost 300 million euros ($331 million) and have a throughput of 90,000 tons per year.
The Aurubis board in December decided to boost capital investment in the plant, which will recycle printed circuit boards, cables and other scrap materials. On March 27, the company announced it has signed a contract with German equipment manufacturer SMS Group for the second recycling module.
According to an Aurubis quarterly report released in February, the increased spending is a result of the additional recycling system, as well as inflation and adjustments for infrastructure costs. Specifically, the company is spending an additional 250 million euros ($276 million) on the second processing system and 90 million euros ($99 million) to account for infrastructure cost increases and inflation.
The quarterly report notes production at the Augusta plant is now scheduled to begin in 2026. The company forecasts the facility will produce about 170 million euros ($188 million) in earnings before interest, taxes, depreciation and amortization (EBITDA) starting in the 2026-27 fiscal year, the report stated.
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