Mytilineos becoming the largest bauxite producer in the European Union

More specifically, the new activity will boost annual production to 1.2 million tonnes - the largest production in Europe and among the largest globally. This will ensure the long-term supply of bauxite to the historic Aluminium of Greece plant. In addition, the consolidation of the two mines entails substantial economies of scale at all levels: a) in production b) in logistics c) in the joint use of the port of Itea and many more.

Following the acquisition and investment planned by Mytilineos, the production of sufficient quantities of gallium is further secured to meet European needs, as the quantities that can be produced correspond to the current demand of the EU. Moreover, discussions are already underway between the Company and the European Commission, as Mytilineos undertakes a pilot project to assess the most efficient method of gallium extraction, with the goal of producing 40-45 metric tons, per annum.

The new entity resulting from the merger will directly employ 500 highly skillful and long experienced personnel in the mining and administration sector, making it the largest mining complex in terms of direct and indirect employment value in the country, further boosting economic activity in the Fokida region.

It is reminded that the acquisition concerns all bauxite mining activities in the Fokida area, which will now be incorporated into Mytilineos’ M Metals.