The European Bank for Reconstruction and Development (EBRD) is extending a $50 million (€46 million) loan to Esan Eczacibasi Endustriyel Hammaddeler Sanayi ve Ticaret AS in Türkiye. This funding aims to support resource and energy efficiency improvements at the Balya polymetallic mine in Balikesir.
The investment will facilitate the decarbonization and electrification of the Balya mine’s operations, enhancing operational efficiency and supporting green energy projects. The Balya mine produces zinc, copper, and lead—metals essential for the energy transition.
Mining is pivotal for decarbonization, with copper and zinc being vital for various green applications such as battery-powered vehicles, electronics, and renewable energy generation, transmission, and storage.
Additionally, the EBRD will aid Esan in enhancing youth access to market-relevant skills and job opportunities through a new accredited dual-learning program in collaboration with local technical and vocational institutes. Given the traditionally male-dominated nature of the mining sector, Esan, with EBRD’s backing, will also work to promote gender equality in training and employment.
Esan has committed to adhering to the EBRD’s environmental and social standards throughout the project’s duration, thanks to the bank’s continuous environmental appraisal and involvement.
Natalia Lacorzana, Director of Natural Resources at EBRD, commented, “I am delighted to be signing today this very important transaction with Esan, a company that aspires to promote the decarbonisation of the mining sector and the production of metals relevant to the green energy transition. As part of our investment, Esan will also undertake a series of initiatives to promote an inclusive and gender-responsive working environment, thereby contributing to equal opportunities in mining operations. I am very proud of our partnership with Esan, and I am confident that it will be exemplary for the rest of the sector.”
Esan, a key producer of industrial minerals and metals in Türkiye, is a subsidiary of Eczacibasi Holding, one of the country’s leading industrial groups.
Atalay Gümrah, CEO of Eczacibasi Holding, stated, “As a pioneer of transformation in the mining industry, we are delighted to work with the EBRD on an investment that uses new technologies to promote efficiency and sustainability in our industry. Through this project, we not only aim to decarbonise and electrify our operations but also foster economic empowerment by implementing long-term community development programmes. We also aim to provide market-relevant skills and employment opportunities, particularly for young people and women, thus fostering a more inclusive mining sector.”
The EBRD has been a significant investor in Türkiye, with nearly €19.5 billion invested across 440 projects and trade finance limits since 2009, 93 percent of which has been directed towards the private sector.
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