#Greece #Rio Tinto #METLEN Energy #Agios Nikolaos #Bauxite Alumina

METLEN Energy & Metals Partners with Rio Tinto

In a landmark move, METLEN Energy & Metals has announced two substantial long-term agreements with Rio Tinto. This collaboration is aimed at significantly elevating the company's capabilities in bauxite and alumina production, reinforcing its supply chains and expanding its operational scale in the global aluminum market.

As part of their strategic initiative, METLEN is embarking on a grand expansion of its alumina refining facilities at the historic "Aluminium of Greece" plant located in Agios Nikolaos, Viotia. This development is set to boost the production capacity of the refinery from 865,000 tons to an impressive 1,265,000 tons annually. Such an increase is vital for supporting METLEN's growing output and meeting the surging global demand for alumina.

The first key component of the partnership involves a Bauxite Supply Agreement, under which Rio Tinto will provide approximately 14.9 million metric tons of bauxite sourced from the CBG mine in Guinea, spanning an 11-year period from 2027 to 2037. This addition will complement the bauxite produced by METLEN in its local mines, ensuring a consistent and reliable supply of this critical raw material.

Furthermore, through a second agreement termed the Alumina Purchase Agreement, METLEN is set to deliver 3.9 million metric tons of alumina to Rio Tinto from its newly expanded Agios Nikolaos refinery. This arrangement will be active for a duration of eight years, with the possibility of extending it for an additional three years until 2037.

Evangelos Mytilineos, President and CEO of METLEN Energy & Metals, remarked, "This strategic partnership with Rio Tinto marks a significant milestone for METLEN, ensuring a secure and competitive supply chain for our expanding alumina production. These agreements not only enhance our competitive standing but also deepen our presence in the global alumina market."

In parallel, Jerome Pécresse, CEO of Rio Tinto Aluminium, expressed enthusiasm for securing this long-term partnership, highlighting its importance in ensuring a steady supply of alumina for their operations across the Atlantic region, thus enabling them to continue producing high-quality, low-carbon aluminum for their customers in Europe.

These strategic agreements lay the groundwork for METLEN's plan to fortify and expand its operations in the global alumina market. By securing long-term bauxite supply and a consistent purchaser for their alumina production, METLEN is not only solidifying its role as a key player in the industry but is also paving the way for sustainable growth.

About METLEN Energy & Metals

METLEN Energy & Metals is a leading multinational industrial and energy company headquartered in Greece, specialized in metallurgy and energy sectors with a strong focus on sustainability and circular economy practices. The company is publicly traded on the Athens Stock Exchange, showcasing impressive consolidated revenues and EBITDA of €5.492 billion and €1.014 billion respectively. Recognized as a benchmark for competitive green metallurgy in Europe and worldwide, METLEN operates the only vertically integrated plant for bauxite, alumina, and primary aluminum production within the European Union. The firm also possesses private port facilities and is actively involved in global markets across five continents and 40 countries, adopting a synergetic large-scale model between the metallurgy and energy sectors.

For more details, visit METLEN's Website.