Aurubis and Viscaria agree on memorandum of understanding for long-term copper offtake to secure critical raw materials 

Aurubis AG, a leading global supplier of non-ferrous metals, and the Swedish mining company Viscaria agreed to enter into a memorandum of understanding for a long-term copper concentrate supply contract. 

The offtake agreement is expected to cover approximately 50% of Viscaria’s projected copper concentrate output over an initial eight-year period from 2028 onwards with an extension option. If annual production increases during the term, the parties will discuss, in good faith, an adjustment to the contracted quantity. With its unique network of smelters, Aurubis is a reliable, long-term partner that continuously invests in improving its production. 

The mine is expected to produce more than 25,000 tons of copper annually. The proximity of the asset in Kiruna in northern Sweden to Aurubis plants ensures logistics with a very low carbon footprint. Viscaria and Aurubis share the same values when it comes to responsible copper production. With its Tomorrow Metals sustainability promise, Aurubis is committed to staying best in class in all the sustainability challenges of today and the future and continuously creating more value while lowering its environmental footprint.  

The majority of Aurubis sites have been successfully audited according to the international Copper Mark framework, clear proof that the company’s responsible copper sourcing and production requirements are upheld throughout the Group. Viscaria’s high focus on ESG also lays the perfect foundation for implementing internationally recognized responsible production standards once the project is fully in operation.  

“Securing a long-term partnership with a global market leader such as Aurubis underscores the strength of our strategy, provides significant support to the debt financing process, and ensures flexibility in managing our production volumes. The agreement recognizes the high quality of the concentrate produced by Viscaria. This is a positive step forward towards becoming a significant new European copper producer,” said Jörgen Olsson, CEO of Viscaria. 

“We are very proud to partner with Viscaria. This partnership exemplifies the importance of European raw material projects and demonstrates how competitive and responsible our industrial value chains can be. I hope this encourages us to pursue such projects more decisively in the future — to strengthen our strategic metal supply and reinforce our industrial resilience,” Aurubis CEO Toralf Haag said. 

Milestone in securing strategic metals next door to European industry, thus forging resilience and supply chain independence 

Sector experts expect demand for strategic industrial metals, like copper, used in forward-looking applications such as data and AI centers, electrification, infrastructure measures and security to rise sharply by 22% in the coming years and even double by 2050.  

The European Commission strongly supports more local mine projects within the context of the European Critical Raw Materials Act to strengthen local supply chain resilience and reduce dependence on external sources. The planned agreement between Aurubis and Viscaria represents a key step towards securing the supply chain through critical raw materials.  

Mining project with strong ESG profile and high focus on sustainability standards 

Operating in Sweden, a Tier 1 mining jurisdiction, with an extensive long-term environmental permit, Viscaria aims to number among the top 5% of global copper mines with the lowest carbon emissions. The company recently secured 45 megawatts of carbon-neutral electricity, enabling fully electrified mining operations with minimal climate impact. Technical solutions include electrified vehicles or optimized transport modes.  

Additionally, Viscaria inaugurated one of Sweden’s most advanced water treatment plants at the mine site. The water treatment plant sets a completely new standard that exceeds both Swedish and international environmental requirements. The project emphasizes promoting biodiversity and responsible land restoration during and after mining operations.  

Viscaria is committed to local community development, creating jobs for the local community, and supporting regional growth in the Kiruna area. The company aims to be a responsible employer, making ethical business practices and transparency towards the local community core company principles. 

Moving forward, due diligence will be conducted as part of the further engagement between both business partners.  Viscaria and Aurubis are committed to continuous engagement, and due diligence is essential to both companies as part of a broader sustainability-focused dialogue.  

About the Gruvaktiebolaget Viscaria project 

The Viscaria project is working on reopening the Viscaria mine in Kiruna. The asset is intended to operate as an underground mine. The deposit’s high-grade copper, assessed mineral resources, and geographical location provide ideal conditions for becoming an important supplier of high-quality and responsibly produced copper. The Viscaria project is projected to contain a total of nearly 1,000,000 tons of copper.