MYTILINEOS Energy & Metals (MYTILINEOS) is set to embark on a significant expansion of its international mining and alumina production activities, securing a Prospecting License from the Ghana Integrated Aluminium Development Corporation (GIADEC) in Northwest Africa. The license grants MYTILINEOS the exploration and extraction rights for bauxite deposits in the Ninayhin – Mpasaaso region, estimated to hold geological reserves of 300 million tons of bauxite. This move aligns with MYTILINEOS’s strategic plan, focusing on supply chain security, diversification of bauxite sources, and strengthening its presence across the entire aluminium industry value chain.

In a landmark signing ceremony held in Accra on January 26th, attended by the President of Ghana, HE Nana Akufo-Addo, MYTILINEOS formalized its entry into the Ghanaian mining sector. The company aims to replicate the successful Energy & Metals model that it has implemented in various energy projects, leveraging its deep understanding of Ghana’s energy sector.

The initial 18-month phase of the project will involve comprehensive studies to confirm reserves, develop mining operations, and conduct a feasibility study for alumina production. The designated area, Ninayhin Block C, is projected to yield approximately 10 million tons of bauxite annually, translating to an estimated annual turnover of $500 million at current market prices. The collaboration with GIADEC also involves evaluating the construction of an alumina production unit with an anticipated annual capacity of up to 1.5 million tons.

As the sole vertically integrated company producing bauxite, alumina, and cast aluminium in the European Union, MYTILINEOS underscores its commitment to diverse global supply sources and reinforcing its position throughout the entire value chain of the aluminium industry. Bauxite, recognized by the European Union as a strategic raw material critical for the digital and “green” transition, adds significance to this agreement in supporting global efforts against climate change.

MYTILINEOS emphasizes its business model’s core principle of creating value for all stakeholders while adhering to the highest international standards of Environmental, Social, and Governance (ESG) excellence. In line with this commitment, MYTILINEOS aims to contribute to Ghana’s economic and societal growth by supporting local communities, engaging local sub-contractors, providing training programs, and creating over 1,500 quality employment opportunities over time.

Source: GlassBalkan

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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

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