The sustainability of metallurgy and the strategic importance of metals for ReAerm Europe were the focus, among others, of METLEN President and CEO Evangelos Mytilineos at the Global Metals, Mining and Steel Conference 2025, organized by BofA Securities.
Mytilineos pointed out Europe’s unfavorable position in global metal and aluminum production, with many factories having closed due to high energy costs, 3 to 5 times higher than in the USA and China, he explained. At the same time, he stressed that the EU’s rearmament strategy is not accompanied by policies that support the sustainability of metallurgy, as any funding is now directed elsewhere.
Mytilineos, who participated in a panel on “Metals post tariffs: Business implications of a new regionalism”, together with Bold Baatar, Chief Commercial Officer of Rio Tinto, stressed the need for energy self-sufficiency for heavy industries such as METLEN, stating that the company’s strategy (energy & metals) includes a “shop-in-shop” model, with in-house energy production and management. This, as he noted, is the only way to maintain activity in conditions of intense instability.
The panel took place three months after the major agreement signed between the two companies, which is among Metlen’s growth drivers for profitability of 2 billion euros in the coming years, while also paving the way for Europe to become independent from China, with regard to gallium.
Metal recovery initiatives
In the context of planned investments in circular metallurgy, Mytilineos referred to the successful initiatives to recover metals from waste, which are now operating successfully on a pilot basis.
Commenting on the prospects for strategic metals such as gallium, he highlighted the difficulties that have historically prevented investments, due to China’s monopoly on production and price setting, noting, however, that METLEN was the one who dared to undertake the production of this crucial metal for semiconductors and defense applications.
Finally, he referred to the collaboration with Rio Tinto, saying that the recent decision to invest 300 million euros in the facilities in Agios Nikolaos was a natural continuation of a long-standing and profitable relationship between the two companies.
“The less globalized we are, the more regionalized we are,” he said, explaining that the new landscape in the energy and metals markets creates new, complex data that require flexibility, resilience and strategic planning. In this context, during his presentation, Mytilineos emphasized that tariffs operate as lose-lose policies, creating distortions and burdening international value chains. Although METLEN does not export directly to the US, the US market affects demand in Europe.
Global Metals, Mining and Steel Conference is one of the most important conferences in the metals sector, with a long history of over 40 years. All the major companies in the world are participating at CEO level – approximately 70 companies attended this year. The conference opened with presentations from Glencore, Anglo America, Rio Tinto, BHP, etc.
The first panel of the conference began with Metlen and Rio Tinto which, like the presentations from the majors in the industry, was coordinated by the BofA analyst covering METLEN, Jason Fairclough.
