Mytilineos becomes EU’s largest bauxite producer

2023-12-21

Dec. 20, 2023 - Mytilineos is being transformed, aiming at its further expansion and its London listing. Its new structure foresees two branches, of energy and metallurgy. The infrastructure activity is coming under the control of two new subsidiaries: METKA will specialize in construction, and M Concessions will be the concession investment arm.

Imerys Bauxites’ operations will merge with Mytilineos’ wholly-owned subsidiary, Delphi Distomon, as part of the Metallurgy Sector’s ongoing vertical integration. This move establishes the largest bauxite producer in Europe, significantly increasing the production capacity to 1.2 million tons annually – a European record and one of the largest globally. This strategic merger ensures a stable, long-term bauxite supply for the historic Aluminium of Greece plant.

The consolidation of the two mines brings substantial economies of scale, impacting production, logistics, and the shared use of the port of Itea in the southeastern Fokida region, among other areas.

With Mytilineos’ planned acquisition and investment, the production of gallium is assured to meet European demand. Discussions with the European Commission are already underway, as Mytilineos initiates a pilot project to evaluate the most efficient gallium extraction method, targeting an annual production of 40-45 metric tons.

The newly formed entity resulting from the merger will directly employ 500 highly skilled and experienced personnel in the mining and administration sector, establishing it as the largest mining complex in the country in terms of direct and indirect employment value. This development will further stimulate economic activity in Fokida.

It is noteworthy that the acquisition encompasses all bauxite mining activities in the Fokida area, now integrated into Mytilineos’ M Metals.