Data shows declining bauxite export trend in Greece as AOG readies for new ventures

Greece, the only Balkan country in the European Union, is the largest producer of bauxite and many other industrial minerals in the Union. Bauxite export constitutes one of the major revenue generating trades of the economy. Aluminium of Greece which is the main aluminium producing company in Greece owns Delphi-Distomon mining company. It operates two large bauxite deposits at Boeotia and Phocis on the north coast of the Gulf of Corinth. The plant has total bauxite processing capacity of 200,000 tonnes in a year.

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Actual and estimated export-import data shows, bauxite import by Greece has declined significantly since 2011. According to The Bauxite Index, aluminium ore export by Greece totalled 0.52 million tonnes in 2011 which shrunk by 13.5 per cent to total at 0.45 million tonnes in 2015. Due to global commodity market downturn and slag demand for tropical bauxite in the global market, the shipment volume of bauxite from Greece has come down further in 2016. Last year, the export volume of the ore totalled 0.35 million tonnes, down 22.2 per cent from the previous year.

In 2017, till November, Greece is estimated to export 0.32 million tonnes of bauxite, down 2.5 per cent from the corresponding period previous year.

Earning from bauxite export has also dropped over the last three years. In 2015, the total value of bauxite export from Greece was estimated at US$38.49 million. In 2016, the value decreased by 27.7 per cent to total US$27.8 million. In 2017, till November, Greece is estimated to export bauxite worth US$29.08 million, up 15.5 per cent from the corresponding period previous year.

The mining and metallurgical industry represents an important segment of economic activity in Greece. It has strong, outward-looking characteristics; the exports account for more than 70 per cent of sales. The government has introduced a new National Policy for the exploitation of mineral resources. This, along with a host of other conducive micro-economic factors makes bauxite mining in Greece a lucrative business proposition.

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GE and Aluminium of Greece (AOG), a Mytilineos Group subsidiary, today signed a 10-year agreement in Dubai, the United Arab Emirates, to implement global first-of-their-kind digital smelter solutions for AOG to enhance its aluminium smelting process and contribute to increased operational efficiency and productivity.

Commenting on the development Dimitris Stefanidis, CEO of Aluminium of Greece said, "As the largest vertically integrated bauxite, alumina and aluminium production and trading unit in the European Union, we are constantly looking at innovative technologies to enhance our performance standards. The application of digital industrial solutions is a remarkable opportunity to achieve process optimization across our operations and to push productivity levels."