Breaking Ground: MYTILINEOS Sets New Heights in European Aluminium with IMERYS BAUXITES Takeover
In a groundbreaking move that reverberates across the European aluminium landscape, MYTILINEOS has emerged as the preeminent bauxite producer in the European Union. The green light from the Hellenic Competition Commission, approving MYTILINEOS’ acquisition of 100% of IMERYS BAUXITES GREECE SINGLE MEMBER SOCIETE ANONYME, now known as IMERYS BAUXITES, marks a monumental consolidation in the sector.
The amalgamation seamlessly integrates the operations of IMERYS BAUXITES with MYTILINEOS’ wholly-owned subsidiary, Delphi Distomon, birthing the largest bauxite production powerhouse in Europe. This transformative union propels MYTILINEOS’ annual bauxite output beyond 1.2 million metric tons (roughly 1.3 million US tons), not only establishing supremacy in Europe but also elevating its standing on the global stage.
A pivotal facet of this acquisition is the assurance of sustained bauxite supply to the historic Aluminium of Greece plant. Beyond this, the united operations promise substantial economies of scale, spanning production, logistics, and the shared utilization of the port of Itea, unlocking multifaceted benefits.
Strategically, the acquisition holds significance for the European market, particularly in gallium production, a byproduct of bauxite processing. MYTILINEOS aims to meet the entire European demand for gallium, targeting an annual production of 40-45 metric tons. This strategic initiative aligns with ongoing discussions between MYTILINEOS and the European Commission, underscoring the company’s active participation in a pilot project aimed at optimizing gallium extraction methods.
This transformative merger positions the resultant entity as a major regional employer, boasting 500 skilled workers in mining and administration. Beyond being the largest mining complex in Greece in terms of employment, it emerges as a substantial contributor to the economic vibrancy of the Fokida region.
Notably, this acquisition spans all bauxite mining activities in the Fokida area, further expanding MYTILINEOS’ Metallurgy Sector (M Metals) footprint.
Source: GlassBalkan
