Evangelos Mytilineos, President and CEO of METLEN, discussed the sustainability of metallurgy and the strategic significance of metals for ReAerm Europe at the Global Metals, Mining and Steel Conference 2025, organized by BofA Securities.
Mytilineos highlighted Europe’s disadvantage in global metal and aluminum production, noting that many facilities have shut down due to energy costs that are 3 to 5 times higher than those in the USA and China. He also pointed out that the EU’s rearmament strategy lacks accompanying policies to support sustainable metallurgy, with current funding directed to other areas.
During a panel on “Metals Post Tariffs: Business Implications of a New Regionalism,” Mytilineos, alongside Bold Baatar, Chief Commercial Officer of Rio Tinto, underscored the necessity for energy self-sufficiency in heavy industries like METLEN. He explained that the company’s energy and metals strategy incorporates a “shop-in-shop” model, featuring in-house energy production and management, which he believes is essential for maintaining operations amid significant instability.
This panel occurred three months after a significant agreement between METLEN and Rio Tinto, a key factor in METLEN’s goal of achieving €2 billion in profitability in the coming years and moving Europe towards independence from China concerning gallium.
Metal Recovery Initiatives
Regarding investments in circular metallurgy, Mytilineos discussed successful pilot projects focused on metal recovery from waste.
He addressed the challenges surrounding strategic metals like gallium, which have historically impeded investments due to China’s production monopoly and price control. However, he noted that METLEN has boldly taken the initiative to produce this critical metal for semiconductors and defense applications.
Mytilineos also mentioned the collaboration with Rio Tinto, sharing that the recent €300 million investment in the Agios Nikolaos facilities extends their long-standing and lucrative partnership.
He remarked, “The less globalized we are, the more regionalized we become,” explaining that the evolving landscape in energy and metals markets introduces complex dynamics that necessitate flexibility, resilience, and strategic planning. During his presentation, he emphasized that tariffs create distortions and burden international value chains, noting that while METLEN does not export directly to the US, the US market influences demand in Europe.
The Global Metals, Mining and Steel Conference is a premier event in the metals industry, boasting over 40 years of history. This year, approximately 70 major global companies participated at the CEO level, with presentations from notable names like Glencore, Anglo American, Rio Tinto, and BHP.
The conference kickoff featured METLEN and Rio Tinto, and was coordinated by BofA analyst Jason Fairclough, who covers METLEN.
