The approval of 47 investment projects by the EU Commission concerning critical raw materials within the framework of the CRM Act strategy by the member states, which include METLEN’s vertically integrated project for bauxite mining, the expansion of the alumina production unit and the production of 50 MT of gallium, are expected to affect the sectors of mining and metallurgy in Europe and Greece, especially when the company’s production potential is expanded to scandium and germanium.
However, challenges remain and measures are needed to consolidate and confirm in practice the climate of optimism that is being established, as sector representatives emphasized. Financing, licensing and energy costs are the determining factors for the course and success of these specific projects.
The Commission claims that the recognition of the 47 Strategic Investments under the CRM Act paves the way for faster licensing procedures, access to European funding and enhanced support from the EU. However, the financing plan for these projects remains unclear while there are many other open issues. Meanwhile, energy costs are affecting European industry and threatening mining and quarrying activity.
METLEN Strategy
On its part, METLEN remains steadfast in its strategy in the mining sector and is proceeding with the intensification of its metallurgical activity with a three-year horizon, with the aim of strengthening its participation in supplying Europe with critical raw materials.
In 2028, the company will be ready to cover Europe’s needs for gallium with its production, and in the meantime, it is preparing to include scandium and germanium, which are critical raw materials for Europe’s industry and defense, in its production potential, consolidating its presence as a strategic hub for metallurgy and critical raw materials in Southeastern Europe.
METLEN has already advanced the pilot project of extracting and refining scandium from bauxite residues and aims to develop and adopt technologies that will allow the best possible utilization of these residues.
According to sources, the first results demonstrate that the selective extraction of scandium from bauxite residues is feasible using the METLEN method and produces a satisfactory result that constitutes a significant increase in the concentration of scandium, which reduces the requirements for the subsequent stages of its refinement and production, making this specific activity feasible and sustainable from the point of view of the Greek company, which is becoming a completely competitive and calculable force in meeting the needs of Europe and in this critical raw material, essential in modern industry, technology, green energy and defense.
A similar effort is being made to produce germanium, which is a crucial raw material for military devices and defense needs.
According to sources, METLEN has submitted a proposal to include its investment in bauxite mining and boosting alumina and gallium production in the Innovation Fund.
