In a significant move that reshapes the European aluminium industry, MYTILINEOS has become the largest bauxite producer in the European Union. This development follows the Hellenic Competition Commission’s approval for MYTILINEOS to acquire 100% of the shares of IMERYS BAUXITES GREECE SINGLE MEMBER SOCIETE ANONYME, known as IMERYS BAUXITES. The decision, rendered on 5.9.2023 under no. 837/2023, marks a notable consolidation in the sector.
The merger integrates IMERYS BAUXITES’ operations with those of MYTILINEOS’ wholly-owned subsidiary, Delphi Distomon, thereby creating the largest bauxite production company in Europe. This union signifies a substantial increase in MYTILINEOS’ production capacity, with annual bauxite output projected to exceed 1.2 million metric tons (approximately 1.3 million US tons), positioning it as a leader not only in Europe but also on a global scale.
A key aspect of this acquisition is the sustained supply of bauxite to the historic Aluminium of Greece plant. Moreover, the combined operations promise significant economies of scale in production, logistics, and the joint utilization of the port of Itea, among other benefits.
The acquisition also has strategic implications for the European market, particularly in the production of gallium, a byproduct of bauxite processing. MYTILINEOS aims to secure the production of gallium to meet the entire European demand, with plans to produce 40-45 metric tons annually. This initiative aligns with discussions between MYTILINEOS and the European Commission, highlighting the company’s involvement in a pilot project to optimize gallium extraction methods.
The resulting entity from this merger will become a major employer in the region, with 500 skilled workers in mining and administration. This makes it not only the largest mining complex in Greece in terms of employment but also a significant contributor to the economic vitality of the Fokida region.
Finally, this acquisition encompasses all bauxite mining activities in the Fokida area, further expanding MYTILINEOS’ Metallurgy Sector (M Metals) footprint.
