Where Are Greece’s Critical Metals Located?
A few days ago, the European Commission approved 47 strategic projects focused on the extraction, processing, and recycling of rare earth elements and critical raw materials within Europe.
The goal is to reduce dependence on non-EU countries and ensure a diverse and secure supply chain. These projects target 14 of the 17 strategic metals identified in the Critical Raw Materials Act (CRMA), which came into effect in May 2024. Among these materials are lithium, nickel, cobalt, graphite, and aluminum, all essential for modern industries.
Under this framework, the EU aims to meet by 2030:
10% of its demand through mining,
40% through processing,
25% through recycling,
While limiting reliance on any single third country to 65% of its strategic raw material needs.
Among these projects, Greece stands out with a bauxite, alumina, and gallium extraction and processing project in Boeotia—the only one among the 47 focusing on these metals. This highlights Greece’s potential in the field.
Why These Metals Matter
These critical metals are essential for electric vehicle batteries, wind turbines, solar panels, military systems (sensors, radars, lasers), satellites, mobile phone screens, microchips, processors, aerospace technology, and other high-tech applications.
Greece’s Untapped Mineral Wealth
Greece possesses significant mineral reserves, including rare earth elements and critical metals, yet much of this wealth remains underexploited. Key obstacles include:
Lack of investment and expertise,
Neglect by previous governments,
Local opposition due to environmental concerns or political interests,
The need for advanced technology to minimize environmental impact,
Strong competition from China, which dominates over 80% of global production.
Key Locations of Critical Metals in Greece
📍 Boeotia – The bauxite-to-gallium project could position Greece as a major player in the global market. Gallium is crucial for technology, defense, and green energy (e.g., solar panels).
📍 Skouries, Halkidiki – A €1 billion project set to begin commercial operations in 2025, producing 67 million pounds of copper and 140,000 ounces of gold annually, with a 20-year lifespan.
📍 Chios – Plans for an international tender for antimony exploration and mining, despite local opposition.
📍 Molai, Laconia – Rockfire Resources' research indicates high germanium content, with production targeted for 2026, pending regulatory approvals.
📍 Macedonia & Thrace – Rich deposits in:
Kilkis (antimony, tungsten, tellurium),
Pangaion Hills, Kavala (tellurium, bismuth),
Thrace (rhenium, molybdenum, gallium, germanium, antimony), with rhenium standing out for its use in aerospace superalloys.
A Strategic Opportunity
With the EU prioritizing domestic resource development, Greece has a unique opportunity to harness its mineral wealth, strengthening its economy, advancing its role in green energy and high-tech industries, and reducing Europe’s reliance on non-EU suppliers. However, this will require strong investment, innovation, and a balanced approach to environmental concerns and local interests.
