METLEN Energy & Metals ( ) announced today (16.1.2025) that the Metallurgy Committee at a joint meeting with the Capital Alliance Committee on Capital Investment (Capital Alliance Committee) took the final investment decision today to implement a new large investment in the production of bauxite, alumina and Gallio. This iconic work that will be carried out in Agios Nikolaos Boeotias, within the limits of the historic factory “Aluminion of Greece”, by METLEN is a milestone in the history of the Metallurgy Sector, since it will significantly increase its production capacity, while now joining industrial production and Gallio, a critical material for the future of Europe. CORVERSE The investment budget of €295.5 million is intended to achieve total production capacity (on an annual basis), 2 million tonnes of bauxite, 1,265 000 tonnes of alumina (from 865,000 tonnes today) and 50 MT France (for the first time) All three materials are included in the list of Critical Raw materials of the European Union. The total Capex includes the following individual investments: Development of research and new bauxite mining deposits; New buildings and engineering equipment for the development of the French production line, new buildings and machinery for the expansion and modernisation of alumina production capacity; Energy supply projects of the industrial unit, expansion and upgrading of port (port), Other road infrastructure and flood prevention Evangelos Mytileneos, Chairman and CEO of METLEN, said: “METLEN’s decision to implement a new, flagship industrial investment in the production of bauxite, alumina and gallium, strengthens Europe’s self-sufficiency in critical raw materials, but also Greece’s strategic position on the world map. It simultaneously shields European industry from external dependence. We demonstrate in practice our commitment to innovation, sustainable development and the circular economy, while firmly confirming that METLEN can have a leading role in moving towards a more “green” and durable industrial production. “ Especially for gallium, it should be noted that it is a sub-product of certain grades of bauxite (and Greek) when treating their refining in alumina, with its production being done almost exclusively in China. However, China’s decision to impose restrictions on French exports (July 2023) highlighted the sensitivity of the West, as well as the need to diversify supply sources. CORVERSE With METLEN’s investment, European imports of gallium are completely undercut, thus significantly boosting Europe’s strategic autonomy, which requires a reduction in dependence on third countries to ensure the production of critical technologies extending to a wide range of production, from energy transition to defence. Indicatively: Integrated Systems used in computer and telecommunications, light-transmitting lamps (LEDs) and permanent magnets etc. It is noted that the production of all three of these critical materials (bauxite, alumina and gallium of present value of around 1 billion) is intended for export to countries of Europe and North America. This innovative investment will also introduce new and environmentally friendly technologies that will reduce the carbon footprint of the plant. At the same time, through critical synergies with METLEN’s Energy Sector, energy costs will become completely sustainable. For this investment, METLEN submitted an investment file to N. Strategic Investment, while the investment fulfils the requirements of the Programme ‘Temporary Crisis and Transition Framework for State aid measures to support the economy after Russia attacked Ukraine’ (Temporary Crisis and Transition Framework – TCTF). Finally, that the investment was recently received from the European Commission the STEP SEAL Excellence Seal (the Sovereignty Seal), as it was considered to contribute significantly to the Union’s autonomy in critical raw materials (CRM). METLEN commits to keeping the investment public informed of the next stages of the investment. The completion of the works and the start of production is placed for bauxite in 2026, and for alumina and Gallio, gradually from 2027, with full operation in 2028.
Metlen: New major mining, metallurgical and industrial investment €295.5 million
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in Enterprise