Metlen announces "landmark" supply deal for Greek gallium supply
Metlen Energy & Metals PLC on Wednesday announced the signing of a long-term gallium supply agreement with a "leading" US technology company.
Metlen said the agreement, which it called a "major milestone," covers the supply of approximately 25% of the annual gallium production from its planned production facility in Greece.
The Athens-based aluminium producer and electricity generator said the agreement's terms are confidential.
"The agreement marks the first major commercial gallium supply agreement between a European producer and a leading US technology company and constitutes a strategic milestone for Europe's efforts to strengthen the resilience of its critical raw materials supply chain," Metlen said.
It noted that gallium is "essential" for various sectors including AI technology, defence and advanced renewables infrastructure, and that global production is "overwhelmingly concentrated".
"We are particularly proud that Metlen is pioneering a completely new industrial chapter for both Greece and Europe; the successful development of gallium production carried out by our teams at Aluminium of Greece," commented Executive Chair Evangelos Mytilineos. "For the first time in Metlen's history, one of our metallurgical products has attracted such strong interest from leading industrial economies worldwide.
"This reflects both the strategic importance of gallium and the confidence of global technology leaders in the quality and reliability of our material, which has already undergone extensive qualification testing."
Metlen shares were 1.6% higher at EUR45.36 each in London late on Wednesday morning.
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