As energy independence is rapidly shaping up as the most significant challenge for both economic growth and geostrategic security across the globe, the German financial newspaper Handelsblatt notes in an article that Greece could emerge as a key player in securing Europe’s needs for the rare earth metal gallium.

The respected German media outlet starts in its opening paragraph: “Greek company Metlen Energy & Metals SA is investing €295.5 million in the European Union’s first gallium production line. According to the company, production is scheduled to begin in 2027, aiming to completely replace Europe’s gallium imports by 2028.”

The extensive piece details Metlen’s next moves, citing statements made last week by Evangelos Mytilineos, the company’s CEO and major shareholder. Quoting Mytilineos Handelsblatt writes: “In this way, we enhance Europe’s self-sufficiency in critical raw materials and bolster Greece’s strategic position in the global market.”

The article highlights that the “precious metal” is essential for smartphones, LEDs, and computer chips, while gallium compounds are particularly vital for 5G technology. It points out that, so far, EU countries rely heavily on imports from China. According to Eurostat, in 2023, 79% of the EU’s gallium supply came from China, 13% from Russia, and 5% from Canada.

Located on the shores of Viotia in central Greece, Metlen operates bauxite mines and an aluminum production facility. Handelsblatt continues that “the publicly traded family business is the only producer of bauxite, alumina, and aluminum in Europe involved in all stages of the production and supply chain. This makes Metlen ideal for gallium production, especially since the bauxite mined in Boeotia is relatively rich in gallium.”

This strategic investment marks a significant step in reducing Europe’s reliance on external sources for critical raw materials while strengthening Greece’s industrial footprint on the global stage.

The article informs its readers that Metlen, formerly Mytilineos Holdings, operates in metallurgy as well as the construction of factories and vehicles in more than 30 countries. The company also builds and operates power plants and infrastructure projects.