EIB backs METLEN’s bauxite modernisation and gallium productiion with EUR 90 million

The European Investment Bank (EIB) has backed METLEN Energy & Metals with EUR 90 million (USD 104.45 million) investments to support them to execute the modernisation of bauxite mining operations and gallium project. This investment is aimed at reducing the EU’s reliance on imported materials used in clean energy, semiconductors and digital infrastructure, marking the first project for gallium in Europe.

While bauxite is a critical input for aluminium production, gallium is indispensable for power electronics, solar panels and advanced chips. This dual project by METLEN is expected to position Greece as a strategic node in Europe’s critical materials ecosystem rather than a passive raw-material exporter.

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The investment is fully aligned with the European Critical Raw Materials Act (CRMA) and is delivered under the REPowerEU framework, which targets industrial resilience alongside the energy transition. In practical terms, the project supports supply security, regional cohesion and lower environmental footprints through more efficient mining and processing practices.

EIB Vice-President Yannis Tsakiris said, “This investment is a landmark for Europe’s industrial and strategic autonomy. By supporting METLEN, the EIB is backing Europe’s first EIB-financed gallium production project, strengthening the security of supply of critical raw materials that are indispensable for the green and digital transitions.”

He added that it shows how European financing can advance industrial innovation, regional development and climate action simultaneously.

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METLEN Executive Chairman Evangelos Mytilineos highlighted the wider implications,  “We are implementing a landmark project that decisively strengthens Europe’s self-sufficiency in critical raw materials by bringing gallium into industrial production within the European Union for the first time, while reinforcing regional cohesion and Greece’s industrial base.”

This marks the third EIB financing for METLEN, underscoring a deepening partnership as Europe races to secure materials essential for its aluminium, energy and technology sectors.