EIB backs strategic gallium investment to boost Europe’s critical raw materials supply

The European Investment Bank (EIB) has approved EUR 90 million in financing to METLEN Energy & Metals, backing what will become Europe’s first EIB-supported gallium production project and strengthening the European Union’s access to critical raw materials. The funding will support strategic investments at METLEN’s historic Aluminium of Greece industrial complex in Central Greece, targeting the supply of bauxite and gallium – two materials considered essential for Europe’s green and digital transitions.

The project encompasses the modernisation of bauxite mining operations in the Parnassus – Giona area, a key input for aluminium production, as well as the development of a new gallium production facility at the company’s alumina and aluminium complex in Agios Nikolaos, Viotia. The initiative marks a significant step toward enhancing Europe’s strategic autonomy in critical raw materials.

The investment aligns fully with the objectives of the European Critical Raw Materials Act (CRMA), aimed at reducing the EU’s reliance on imports and strengthening the resilience and sustainability of industrial value chains across the bloc.

EIB Vice-President Yannis Tsakiris described the financing as a milestone for Europe’s industrial policy. “This investment is a landmark for Europe’s industrial and strategic autonomy. By supporting METLEN, the EIB is backing Europe’s first EIB-financed gallium production project, strengthening the security of supply of critical raw materials that are indispensable for the green and digital transitions. It is a clear example of how European financing can support industrial innovation, regional development and climate action at the same time.”

The financing is being delivered under the REPowerEU framework, which supports investments designed to accelerate Europe’s energy transition and boost industrial competitiveness.