METLEN Energy & Metals Secures Long-Term Strategic Agreements with Rio Tinto in Bauxite and Alumina
ATHENS, Greece, Feb. 19, 2025 /PRNewswire/ -- METLEN Energy & Metals (METLEN) is pleased to announce that it has entered into two long-term strategic agreements with Rio Tinto, securing supply chain improvements in both Bauxite and Alumina.
More specifically, as previously announced, METLEN has committed to a large-scale expansion of its Alumina production capacity with a landmark investment at the historic 'Aluminium of Greece' plant in Agios Nikolaos, Viotia, Greece. This investment will significantly increase the refinery's alumina output from 865.000MT to 1.265.000 tonnes annually.
To support this expansion, METLEN has signed two significant and sizeable long-term agreements with Rio Tinto, whereby:
- Through the Bauxite Supply Agreement, Rio Tinto will supply approximately 14.9 million metric tonnes of bauxite from the CBG mine in Guinea over an 11-year period (2027-2037). These quantities will supplement METLEN's own production in the local mines.
- Though the Alumina Offtake Agreement, METLEN will supply Rio Tinto with 3.9 million metric tonnes of Alumina, sourced from its expanded Agios Nikolaos refinery over an 8-year period (2027-2034) with an optional 3-year extension (2035-2037).
Evangelos Mytilineos, Chairman & CEO of METLEN Energy & Metals, commented: "This strategic partnership with Rio Tinto is one more milestone for METLEN, ensuring a secure and competitive supply chain for our expanding alumina production. With these agreements we strengthen our competitive position and deepen our presence in the global alumina market."
Jerome Pécresse, Chief Executive of Rio Tinto Aluminium said: "Rio Tinto is pleased to forge this long-term partnership with METLEN Energy and Metals, securing alumina supply for our operations in the Atlantic region to continue producing high-quality, low-carbon aluminium for our customers while strengthening our position in Europe."
These agreements are part of METLEN's strategy to reinforce and expand its operations in the global alumina market. By securing long-term bauxite supply and a stable offtake arrangement for its alumina production, METLEN is establishing its position as a key player in the industry while ensuring sustainable growth.
METLEN:
METLEN Energy & Metals is a multinational industrial and energy company, a leader in the metallurgy and energy industries, focused on sustainability and circular economy. The Company is listed on the Athens Stock Exchange, with a consolidated turnover and EBITDA of €5.492 billion and €1.014 billion, respectively. METLEN is a reference point for competitive green metallurgy at the European and global level, whilst operating the only vertically integrated bauxite, alumina and primary aluminum production unit in the European Union (E.U.) with privately owned port facilities. In the energy sector, METLEN offers comprehensive solutions, covering thermal and renewable energy projects, electricity distribution and trading, alongside investments in grid infrastructure, battery storage, and other green technologies. The Company is active in the markets of all five continents, in 40 countries, adopting a full-scale synergetic model between the Metallurgy and Energy Sectors, while undertaking end-to-end development of major energy infrastructure projects.
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