Bauxite

Imerys Bauxites' operations will merge with Mytilineos' wholly-owned subsidiary, Delphi Distomon, as part of the Metallurgy Sector's ongoing vertical integration. This move establishes the largest bauxite producer in Europe, significantly increasing the production capacity to 1.2 million tons annually - a European record and one of the largest globally.

Mytilineos Energy & Metals on Tuesday announced the signing of an agreement with the French company Imerys for the acquisition of 100% of the shares of Imerys Bauxites Greece Single Member Societe Anonyme for 10 million euros. The agreement concerns all bauxite mining activities in the Fokida area, which will now be part of Mytilineos' metallurgy branch.

The government sees opportunities to exploit domestic deposits of rare earths and critical raw materials after restrictions announced by China on exports of gallium and germanium, which are essential raw materials for the manufacture of semiconductors.

Mytilineos sees positive prospects for its alumina business in Greece despite surging alumina prices, the Greek industrial group said on Thursday.

Its vertically-integrated feed and lower production costs have shielded it and created "positive prospects" for its alumina business in the short and the medium term, the company said in a first-quarter trading update.

In comparison to many other countries of similar size, Greece is a country with a significant mineral resources background in terms of quality, quantity and variety.

 Agreement to cost 558 mln, with Greek firm keeping its bauxites

By Anestis Dokas

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