METLEN Energy & Metals Secures Long-Term Strategic Agreements with Rio Tinto in 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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Winnipeg Free Press
30 minutes ago
- Winnipeg Free Press
US-EU trade deal wards off further escalation but will raise costs for companies and consumers
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Vancouver Sun
6 hours ago
- Vancouver Sun
Trump and EU strike deal for 15 per cent tariffs on most goods, avoiding trade war
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If you don't see it, please check your junk folder. The next issue of Sunrise will soon be in your inbox. Please try again Interested in more newsletters? Browse here. Von der Leyen said the deal 'will bring stability, it will bring predictability, that's very important for our businesses on both sides of the Atlantic.' Many facets will require more work As with other recent tariff agreements that Trump announced with countries including Japan and the United Kingdom, some major details remain pending in this one. Trump said the EU had agreed to buy some $750 billion worth of U.S. energy and invest $600 billion more than it already is in America — as well as make a major military equipment purchase. He said tariffs 'for automobiles and everything else will be a straight across tariff of 15 per cent' and meant that U.S. exporters 'have the opening up of all of the European countries.' 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If Trump eventually followed through on his threat of tariffs against Europe, meanwhile, it could have made everything from French cheese and Italian leather goods to German electronics and Spanish pharmaceuticals more expensive in the United States. 'I think it's great that we made a deal today, instead of playing games and maybe not making a deal at all,' Trump said. 'I think it's the biggest deal ever made.' — Associated Press writers Seung Min Kim in Cincinnati and Samuel Petrequin in London contributed to this report. Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. Please bookmark and sign up for our daily newsletter, Posted, here .
Edmonton Journal
6 hours ago
- Edmonton Journal
Trump and EU strike deal for 15 per cent tariffs on most goods, avoiding trade war
The United States and the European Union agreed on Sunday to a trade framework setting a 15 per cent tariff on most goods, staving off — at least for now — far higher imports on both sides that might have sent shockwaves through economies around the globe. Article content The sweeping announcement came after President Donald Trump and European Commission chief Ursula von der Leyen met briefly at Trump's Turnberry golf course in Scotland. Their private sit-down culminated months of bargaining, with the White House deadline Friday nearing for imposing punishing tariffs on the EU's 27-member countries. Article content Article content 'It was a very interesting negotiation. I think it's going to be great for both parties,' Trump said. The agreement, he said, was 'a good deal for everybody' and 'a giant deal with lots of countries.' Article content Article content As with other recent tariff agreements that Trump announced with countries including Japan and the United Kingdom, some major details remain pending in this one. Article content Trump said the EU had agreed to buy some $750 billion worth of U.S. energy and invest $600 billion more than it already is in America — as well as make a major military equipment purchase. He said tariffs 'for automobiles and everything else will be a straight across tariff of 15 per cent' and meant that U.S. exporters 'have the opening up of all of the European countries.' Article content Article content Von der Leyen said the 15 per cent tariffs were 'across the board, all inclusive' and that 'indeed, basically the European market is open.' Article content Article content At a later news conference away from Turnberry, she said that the $750 billion in additional U.S. energy purchases was actually over the next three years — and would help ease the dependence on natural gas from Russia among the bloc's countries. Article content 'When the European Union and the United States work together as partners, the benefits are tangible,' Von der Leyen said, noting that the agreement 'stabilized on a single, 15 per cent tariff rate for the vast majority of EU exports,' including cars, semiconductors and pharmaceuticals. Article content '15 per cent is a clear ceiling,' she said. Article content But von der Leyen also clarified that such a rate wouldn't apply to everything, saying that both sides agreed on 'zero for zero tariffs on a number of strategic products,' like all aircraft and component parts, certain chemicals, certain generic drugs, semiconductor equipment, some agricultural products, natural resources and critical raw materials.
