Strategic Investment in Gallium Production

Ministerial Approval of Metlen's Strategic Investment in Gallium Production

London, 15 May 2026

METLEN Energy & Metals announces that the Interministerial Committee for Strategic Investments of the Hellenic Republic has approved a new strategic investment by the Company relating to the development of gallium production capacity in Greece, along with the expansion of the nearby bauxite mines and the alumina refinery.

The total investment of approximately €300 million has been designated as a project of strategic importance in the field of critical raw materials.

Gallium is classified as a critical raw material by the European Union and is used in a range of advanced technologies, including semiconductors, defence applications, artificial intelligence systems and photovoltaic technologies.

The development of local production capacity is intended to support the resilience of European industrial supply chains and reduce dependency on external sources, in line with EU policy objectives on critical raw materials and strategic autonomy.

The project is integrated within METLEN's existing bauxite mining and alumina refining operations (Aluminium of Greece).

The investment has been approved under the Strategic Investments framework and is the first project to be included under the CISAF 6.1 aid scheme, which received European Commission approval in February 2025. The project is expected to benefit from a combination of grants and tax incentives totalling approximately €118 million.