The company announced the production of the first five kilograms of gallium. File Photo. Credit: AMNA
The European Investment Bank (EIB) has announced a €90 million financing agreement with Greece’s METLEN Energy & Metals to pioneer the production of gallium—a rare and critical mineral essential for the EU’s high-tech future.
The investment coincides with a breakthrough announcement by METLEN Chairman and CEO, Evangelos Mytilineos, who confirmed the successful production of the facility’s first five kilograms of gallium.
While the quantity may seem modest, its value is immense; gallium currently trades at approximately $1,750 per kilogram. More importantly, the achievement proves that METLEN’s patented extraction technology is fully operational at an industrial scale, moving beyond the laboratory to real-world production.
While the EIB funds will modernize bauxite mining in the Parnassus–Giona area, the centrepiece of the investment is a new, cutting-edge gallium production facility at the Aluminum of Greece complex in Agios Nikolaos. This project is a major step toward European “raw material sovereignty.”
According to the company, mass production is scheduled to begin in 2027, aiming to completely replace Europe’s gallium imports by 2028.
Mytilineos recently said: “In this way, we enhance Europe’s self-sufficiency in critical raw materials and bolster Greece’s strategic position in the global market.”
Gallium is a critical mineral
Gallium is indispensable for the production of semiconductors, 5G technology, and high-performance electronics, yet Europe currently relies heavily on external imports.
Gallium is included on the US and EU lists of critical minerals, owing to geological scarcity. China has recently announced restrictions on the export supplies of both gallium and germanium products, citing national security reasons. The EU has urgently called on aluminum and zinc companies to investigate the production of key semiconductor metals.
By integrating gallium extraction into its existing aluminum production, METLEN aims to provide a stable, domestic source of this vital metal, bolstering the EU’s green and digital transitions under the REPowerEU framework.