The Value Chain of Critical Minerals - European Policies, Greek Challenges, and the "Strategic" Gap in Mineral Exploration

 

The New EU Industrial Landscape and Greece's Position

At the heart of the European strategy for autonomy now lies secure access to Critical and Strategic Minerals (CSMs). The Critical Raw Materials Act (CRMA) sets ambitious targets for 2030: mining at least 10%, processing 40%, and recycling 25% of the EU's annual consumption. Greece, with its unique geological background and significant metallogenic potential, emerges as a key pillar in the European effort. Already, from the first round of CRMA Strategic Projects (2025), 47 projects in 13 member states were approved, with total investments of €22.5 billion. METLEN's investment in gallium production is a pivotal example, covering almost the entirety of European needs.

The RESourceEU Action Plan: Shielding Against Geopolitical Shocks

Recognizing the need for rapid action, the European Commission presented the RESourceEU Action Plan. Its goal is to reduce dependence on third countries, such as China, by up to 50% by 2029 for the battery value chains, magnets/rare earths, and "defense" CSMs. Indicatively, EU dependence on gallium is expected to drop from 71% to 17%, while for germanium, dependence is projected to be eliminated.

The Action Plan is structured around four pillars:

1. Promoting projects through de-risking and faster permitting. The new Financing Hub will activate nearly €3 billion within the next 12 months, drawing resources from the European Investment Bank, InvestEU, the Innovation Fund, the Battery Initiative, and the European Defence Programme. Simultaneously, simplifications to the regulatory framework are being promoted for faster approval of strategic projects, and the utilization of national resources through Cohesion Funds, STEP, and national investments is encouraged.

2. Protection against geopolitical crises. The new European Critical Raw Materials Centre will manage market monitoring tools and price support mechanisms. The pilot Stockpiling pilot, the demand-supply matching mechanism (connecting buyers with investors), and measures to counter third-country interventions (limiting participation in research programs, screening foreign investments) will shield European industry.

3. Enhancing circularity and substitution. Measures to limit exports of scrap from permanent magnets and aluminium (and possibly copper), rationalizing legislation on electronic waste, and supporting research into substitute materials.

4. International strategic partnerships. Leveraging the 15 existing partnerships (with Australia, Canada, Ukraine, etc.) through technical assistance and guarantees, initiating negotiations with Brazil, integrating value chains with the Western Balkans and Ukraine, and strengthening cooperation and utilizing G7 and G20 platforms.

Strengthening European Value Chains: Vertical Integration for Batteries and Magnets

Strengthening European value chains, i.e., the vertical integration of mining production, is the cornerstone of the EU's autonomy strategy. The objective is not simply mining, but the creation of a complete ecosystem covering all stages: from mining and processing to recycling and integration into end-use products. This is particularly true for two critical technological chains: lithium batteries and permanent magnets.

This strategy is implemented through the CRMA, which sets clear, measurable targets for 2030:

• 10% of the annual consumption of strategic raw materials to be covered by mining within the EU.

• 40% to be covered by processing within the EU.

• 25% to be covered by recycling within the EU.

RESourceEU Action Plan

For lithium batteries, RESourceEU strengthens the integration of the value chain through the Financing Hub, mobilizing approximately €3 billion from various European funds. These include the Battery Booster (€1.8 billion), specifically targeting cathode and anode materials (lithium, cobalt, nickel, manganese, graphite), and the Innovation Fund (€1 billion) for clean technology. Concurrently, the EU is investing in research through Horizon Europe (e.g., the STREAMS project) and promoting a demand-supply matching platform to ensure stable demand for European projects.

For permanent magnets, essential for electric motors and wind turbines, the EU acknowledges its enormous external dependence (less than 1% of rare earths are currently recycled in the EU). RESourceEU includes specific actions:

• Scrap Export Restriction: A ban on exporting permanent magnet waste is being promoted, so these valuable materials remain in Europe for recycling.

• Innovative Projects: Projects such as SICAPERMA, developing a fully circular value chain for magnet recycling, and SUPREEMO, aiming to create the first pre-commercial production chain for rare earths from European raw materials, are being funded.

Despite the momentum, the path is not without obstacles. A major issue remains the speed of permitting, although Strategic Projects now benefit from faster procedures (up to 27 months for mining and 15 for processing). At the same time, RESourceEU emphasizes circularity, with measures like the ban on exporting "black mass" from batteries to non-OECD countries from September 2026 to boost domestic recycling.

First Round of Strategic Projects

In the first round (2025), the 47 Strategic Projects cover 14 of the 17 strategic raw materials and all stages of the value chain, with an emphasis on batteries (22 projects for lithium, 12 for nickel, 11 for graphite).

Second Round of Strategic Projects

The second submission round for Strategic Projects under the Critical Raw Materials Act (CRMA) is currently in full swing. It concluded with the submission of more than 160 applications, confirming the industry's undiminished interest in this status.

Below are the key features of the current process:

• Timeline & Stage: Applications were submitted by January 15, 2026. They are now all undergoing thorough evaluation by independent experts. The selection is expected to be finalized in consultation with member states, with the final announcement postponed until Autumn 2026.

• Composition of Applications: Analysis of the proposals reveals the EU's key priorities:

o Battery Chain: Dominates with 75 projects supporting the production and recycling of materials for electric vehicles.

o Permanent Magnets & Rare Earths: 21 projects focus on materials vital for wind turbines and electric motors.

o Defense: Various applications relate to the defense sector, highlighting the strategic dimension of the initiative.

• Geographical Origin: Applications originate from both within and outside the EU:

o 95 projects from EU member states.

o 66 projects from third countries, of which 40 are from countries with strategic cooperation with the EU in the field of CRMs (e.g., Australia, Canada, Ukraine).

This second phase demonstrates that the CRMA and RESourceEU are acting as catalysts, attracting investments and accelerating the development of European value chains in critical raw materials. Greece has an active presence in this round as well, leveraging its unique geological and mineral-deposit advantages.

The Dynamics of Nickel Demand: Global and European Outlook

The importance of developing European nickel production is clear from the scale of demand. In 2020, global nickel demand stood at 92,000 tonnes, while for 2040, explosive growth to 2.6 million tonnes is forecast, driven by the rapid development of electromobility. In the EU, corresponding demand in 2020 was 17,000 tonnes, with the forecast for 2040 reaching 543,000 tonnes.

Until 2022, Greece was a significant supplier, covering approximately 5,000-6,000 tonnes annually in 2020. The cessation of Greek production left a gap that the EU must fill, with everyone anticipating its restart under new, sustainable conditions.

The Nordic Example of Vertical Integration – and the Greek Challenge

A characteristic example of successful vertical resource-efficient value chain integration of mining production at national, cross-border, and pan-European levels is the cooperation between Finland, Sweden, and Norway. The Swedish company BOLIDEN operates five smelting units: Rönnskär (Cu, Pb, Zn, Au, Ag) and Bergsöe (lead battery recycling) in Sweden, Odda (Zn) in Norway, and Kokkola (Zn) and Harjavalta (Cu, Ni, Au, Pd) in Finland.

This network allows for the seamless flow of concentrates:

• Chalcopyrite concentrate (Cu, Au, Ag) from the Aitik mine (Sweden) goes to the Rönnskär smelter.

• Polymetallic concentrates (Zn, Cu, Pb, Au, Ag, Te) from the Skellefteå mines also end up at Rönnskär.

• Sphalerite (Zn) and galena (Pb, Ag) concentrate from Garpenberg are directed to Rönnskär, Odda, and Kokkola.

• Finnish nickel concentrate (Ni, Cu, Co, PGE) is processed at Rönnskär and Harjavalta.

At the pan-European level, sphalerite concentrate from the Irish Tara deposit is transported to Kokkola and Odda, while concentrates (Zn, Cu) from Neves Corvo (Portugal) are processed at Kokkola and Harjavalta. This ensures the European character of the value chains, as required by the CRMA.

Sweden, meanwhile, exemplifies a dynamic mining sector, with 800 active applications for Exploration Licenses. Each year, 150-160 new applications are submitted, while 167 cases of mining right concessions are in progress at an advanced stage, with approximately 10 in the final stage before the start of mining activity.

The Greek Challenge: Olympias and Skouries Concentrates

In our country, the dominant challenge and dynamic target for CRM recovery are the galena and arsenopyrite concentrates produced at the Olympias mine, as well as the chalcopyrite concentrate soon to be produced at Skouries.

The commercial value of the galena concentrate is currently limited exclusively to the metallurgical exploitation of its 50-55% Pb and 0.11-1.83% Ag content, while the antimony (9.9% Sb) – a critical raw material – remains untapped. Similarly, the arsenopyrite concentrate is exploited only for its gold (8-30 g/t) and silver (125-164 g/t), while 14-20% arsenic (also a critical mineral) is lost. Not only are antimony and arsenic not recovered, but Hellas Gold is forced to pay penalties due to their presence in the concentrates it produces and trades.

The potential geochemical presence of germanium and gallium in the Olympias sphalerite concentrate is also of interest. The Skouries chalcopyrite concentrate will be sold for its copper (21-26%) and gold (22-25 g/t); however, the elevated concentration of palladium at 2.4-10 g/t – when the cut-off grade in similar deposit types ranges from 0.8 to 1.8 g/t – is of exceptional interest. The prospect of its recovery represents a critical challenge requiring further investigation.

It follows, then, that the lack of vertical integration removes the potential for metallurgical exploitation of the associated minerals antimony, arsenic, and palladium. This prospect could be explored through their inclusion in Strategic Projects in order to examine cross-border and/or pan-European metallurgical processing possibilities that may exist.

The Greek Opportunity: Lateritic Nickel and Hydrometallurgy

Greece holds a unique position in the EU as the only member state with significant nickel laterite deposits. Their historical exploitation by LARCO through energy-intensive pyrometallurgical methods became economically unsustainable with the decline in ore grade, leading to the cessation of production in 2022.

Hydrometallurgy changes the game. Restarting Greek production based on hydrometallurgical methods will increase the reserve potential, as other deposits with grades of approximately 1% nickel and 0.06% cobalt become exploitable – especially when the relevant cut-off grade ranges from 0.5-1.3% for Ni and 0.005-0.1% for Co. A characteristic example is the laterites of Vermio in Northern Greece, which contain up to 1.8% nickel.

Technologies such as High-Pressure Acid Leach (HPAL) and heap leaching allow:

• The economic exploitation of lower-grade ores increases exploitable reserves.

• The efficient hydrometallurgical recovery of by-product metals, such as cobalt (Co) and manganese (Mn), is critical for batteries.

According to estimates, a developed Greek production could yield approximately 17,000 tonnes of nickel and 1,500 tonnes of cobalt annually, covering 10% of Europe's battery material needs. This scale is sufficient to substantially reduce the EU's dependence on imports from outside the Union.

This prospect is already supported by Horizon research projects, such as ENICON (developing hydrometallurgical technologies) and HEPHAESTUS (utilizing secondary flows from LARCO). The acid leaching of rotary kiln residues shows excellent recovery rates (up to ~95% for Ni and ~65% for Co). These projects include data from LARCO, ensuring knowledge flow and synergies, connecting research with application.

The Strategic Gap: Mineral Exploration Excluded from Strategic Projects

Questions that emphasize the Central "Gap" are:  Why Mineral Exploration Is Missing from the CSM Strategy?  Why Europe's CRM Strategy Must Start with Geological Knowledge?

Despite the progress, the plan presents a significant structural weakness: the complete omission of mineral exploration from the CRMA's "Strategic Projects". The EU currently considers that the mineral value chain begins with mining (Fig. 1). This approach, however, ignores a fundamental reality: the greatest investment risk in the mining industry lies not in metallurgy or permitting, but in the uncertainty surrounding subsurface geology. Without modern mineral exploration, investments in processing are often based on outdated geological data. The EU calls for diversification but does not fund the "geological knowledge" that underpins it.

It is encouraging that the Commission has included exploration in the Horizon Europe program, through the call HORIZON-CL4-2024-RESILIENCE-01-01 (Exploration of critical raw materials in deep land deposits - RIA), where project proposals are in the final evaluation stage. This call aims to develop new exploration technologies, supporting National Mineral Exploration Programs and National Geological Surveys.

However, this model creates a paradoxical and inefficient condition: research and innovation are encouraged to run parallel to application, but there is no clear interface mechanism allowing innovative research results to "jump" faster into the Strategic Projects framework once a deposit is confirmed. Exploration is essentially treated as a "public good" and a national, rather than European, industrial priority. Member states are called upon to "run" the exploration, but the EU does not provide them with the mechanism to do so at the speed required by the strategic goal of autonomy.

This gap becomes even more critical considering the polymetallic nature of European deposits. The development of specialized mineral exploration methods is the key to identifying and estimating reserves of "by-product" minerals (such as gallium, germanium, antimony, palladium) that are currently lost in concentrates, as exploration focuses on the primary metallic minerals. The systematic metallurgical exploitation of by-product minerals is not a luxury but a one-way street for achieving the CRMA targets (e.g., 40% domestic processing by 2030).

Fig. 1: The EU's Critical Raw Materials Act (CRMA) defines mineral value chains as starting from mining, excluding mineral exploration as a distinct, eligible stage.

Proposal: An Exploration-to-Enterprise (E2E) Corridor 

The Greek case most emphatically highlights the need for a holistic European raw materials policy. The challenge is now institutional: to bridge the gap between research and application.

My proposal is clear: To create a unified Exploration-to-Enterprise (E2E) Corridor linking the results of Horizon research with the RESourceEU fast-track mechanism. We need a "hybrid" status, where a successful research proposal can transition directly into a Strategic Project status as soon as the deposit is confirmed. The Commission should commit that successful research and innovation projects under HORIZON will be directly included in an accelerator pipeline and "action-oriented dialogue" with the European Investment Bank (EIB), so that knowledge does not remain on shelves but feeds into the next steps of the chain.

Epilogue

Greece is at a historic juncture where EU policies (CRMA, RESourceEU, Horizon Europe) create a unified framework. Greek mining tradition, combined with the innovation of hydrometallurgy and European funding, can elevate our country into a hub for CRM production for Europe's green and digital transition. It is enough for Europe to recognise that the mineral value chain does not begin with the shovel, but with the hammer, the compass, and the geological map.

ΔΟΕ, ΟΟΣΑ και κρίσιμα ορυκτά: Είναι η Ελλάδα παρούσα στη διεθνή σκακιέρα;

 

Στις 10 Ιουλίου 2026, ο Διεθνής Οργανισμός Ενέργειας/ΔΟΕ (International Energy Agency/IEA) δημοσίευσε την έκθεση "Critical Minerals Review of Norway 2026". Μια στρατηγική κίνηση που αναδεικνύει παγκόσμια τον ορυκτό πλούτο της Νορβηγίας και ενισχύει τη θέση της στον διεθνή ανταγωνισμό για κρίσιμες ορυκτές πρώτες ύλες (ΣΚΟΠΥ). Και δεν είναι η μόνη διεθνής πρωτοβουλία. Ο ΟΟΣΑ, μέσω της Πρωτοβουλίας για τις Μεταλλευτικές Περιφέρειες και Πόλεις (OECD Mining Regions and Cities Initiative), εκπονεί συστηματικές μελέτες για μεταλλευτικές περιοχές σε όλο τον κόσμο . Μάλιστα, μόλις το 2025 ολοκλήρωσε έκθεση για 10 ευρωπαϊκές περιφέρειες, περιλαμβάνοντας και τη Στερεά Ελλάδα, με στόχο την ενίσχυση των τοπικών οικοσυστημάτων εξόρυξης . Αντίστοιχες μελέτες έχουν γίνει για περιοχές στην Αυστραλία (Pilbara), τη Χιλή (Antofagasta) και τη Σουηδία (Upper Norrland).

Η Ελλάδα διαθέτει επίσης σημαντικό κοιτασματολογικό δυναμικό. Ενώ λοιπόν η συζήτηση συχνά περιορίζεται στο κατά πόσο μπορεί να γίνει κάτι τέτοιο, η πραγματικότητα, όπως καταγράφεται πρόσφατα τόσο από τον ΟΟΣΑ όσο και από την ελληνική επιστημονική κοινότητα, είναι ότι η απαραίτητη βάση δεδομένων που θα τεκμηρίωνε μια τέτοια ένταξη υπάρχει ήδη. Αυτό που απαιτείται πλέον είναι συντονισμένες πολιτικές παρεμβάσεις για να γίνει αυτό πράξη.

Το ερώτημα συνεπώς δεν είναι μόνο αν έχουμε εκμεταλλεύσιμα αποθέματα, αλλά κυρίως αν έχουμε εθνική στρατηγική και σχέδιο εφαρμογής για την αξιοποίησή τους.

Η καλή είδηση είναι ότι φαίνεται πως η χώρα κάνει κάαποιες κινήσεις προς τη σωστή κατεύθυνση:

• Η ΕΑΓΜΕ έχει υποβάλει Εθνικό Πρόγραμμα Κοιτασματολογικής Έρευνας για ΚΟΠΥ στην ΕΕ.

• Εγκρίθηκε επένδυση €340 εκατ. για παραγωγή γαλλίου, καλύπτοντας σύνολο ζήτησης της ΕΕ έως το 2028.

• Πέντε στρατηγικά έργα (χαλκός, γερμάνιο, βωξίτης, αλουμίνιο, ανακύκλωση) διεκδικούν ευρωπαϊκή χρηματοδότηση.

• Η Ελλάδα εντάχθηκε στη συμμαχία Pax Silica των ΗΠΑ.

Ωστόσο, οι προκλήσεις παραμένουν μεγάλες:

• Απαιτείται σταθερό νομοθετικό πλαίσιο και ταχύτητα στις αδειοδοτήσεις.

• Χρειάζονται επενδύσεις ύψους 2,7 δισ. ευρώ έως το 2030.

• Ο ανταγωνισμός με χώρες όπως η Νορβηγία εντείνεται.

Η Ελλάδα δεν πρέπει να είναι ένας απλός θεατής. Αλλά για να γίνει παίκτης-κλειδί στην ευρωπαϊκή αυτάρκεια, πρέπει το όραμα να μετατραπεί σε σταθερό Εθνικό Σχέδιο Εφαρμογής. Με σαφείς χρονοδιαγράμματα, θεσμική συνέχεια και διεθνή προβολή. Όπως κάνουν οι μελέτες του IEA και του ΟΟΣΑ για άλλες χώρες και περιφέρειες.

Αλλιώς, θα συνεχίσουμε να τα λέμε μεταξύ μας, ενώ άλλες χώρες θα επενδύουν, θα αναγνωρίζονται και θα πρωταγωνιστούν.

Το επιχειρησιακό υπόβαθρο υπάρχει ήδη

Τον Ιούνιο του 2025, ο ΟΟΣΑ δημοσίευσε μια λεπτομερή μελέτη για την Περιφέρεια Στερεάς Ελλάδας στο πλαίσιο του ευρύτερου έργου του για 10 ευρωπαϊκές μεταλλευτικές περιφέρειες . Η έκθεση αυτή αναγνωρίζει τη Στερεά Ελλάδα ως τον μεγαλύτερο παραγωγό βωξίτη στην ΕΕ, επισημαίνοντας παράλληλα και την παρουσία νικελίου, κοβαλτίου και μαγνησίτη . Επιβεβαιώνει, λοιπόν, τον στρατηγικό ρόλο της Ελλάδας στο ευρωπαϊκό οικοσύστημα κρίσιμων ορυκτών, ειδικά στο πλαίσιο του Ευρωπαϊκού Κανονισμού για τις Κρίσιμες Πρώτες Ύλες (CRMA) .

Παράλληλα, η Ελλάδα διαθέτει σημαντικά αποθέματα, με τον χαλκό, το χρώμιο και το κοβάλτιο να ξεχωρίζουν . Το γεγονός ότι το μεγαλύτερο μέρος των μεταλλευτικών περιοχών (κρατικές εκτάσεις) δεν έχει μισθωθεί σε εταιρείες, αποτελεί μια μοναδική ευκαιρία για νέα έργα κοιτασματολογικής έρευνας και αξιοποίησης .

Οι πολιτικές παρεμβάσεις που απαιτούνται

Ωστόσο, η απλή ύπαρξη κοιτασματολογικού δυναμικού δεν αρκεί. Οι μελέτες του ΟΟΣΑ και του ΔΟΕ είναι εργαλεία πολιτικής που αναβαθμίζουν μια χώρα διεθνώς . Για να ενταχθεί η Ελλάδα σε ανάλογες αναλύσεις διεθνούς κύρους, απαιτούνται συγκεκριμένες κινήσεις, οι οποίες έχουν ήδη αποτυπωθεί ως συστάσεις από τον ΟΟΣΑ :

1. Εκσυγχρονισμός της Εθνικής Στρατηγικής: Ο ΟΟΣΑ τονίζει ότι η έλλειψη ενημερωμένης εθνικής μεταλλευτικής στρατηγικής αποτελεί σημαντικό εμπόδιο . Απαιτείται ένα σαφές όραμα που θα καθορίζει τον ρόλο της Ελλάδας στην ευρωπαϊκή αυτάρκεια και θα ενσωματώνει τις περιφέρειες . Όπως σημειώνεται, η απουσία στρατηγικής κατεύθυνσης οδηγεί και σε υποχρηματοδότηση των γεωλογικών ερευνών, μειώνοντας την ικανότητα παραγωγής αξιόπιστων δεδομένων για τα κοιτάσματα .

2. Επιτάχυνση και απλοποίηση αδειοδοτήσεων: Η σημερινή αδειοδοτική διαδικασία χαρακτηρίζεται ως χρονοβόρα και συγκεχυμένη . Η εφαρμογή μιας "υπηρεσίας μιας στάσης" (one-stop shop) και η καθιέρωση σαφών χρονοδιαγραμμάτων κρίνονται απαραίτητες για την προσέλκυση επενδύσεων .

3. Ενίσχυση της εμπιστοσύνης και των τοπικών κοινωνιών: Η εμπιστοσύνη των πολιτών είναι κρίσιμη. Η έλλειψη ξεκάθαρων μηχανισμών διανομής των ωφελειών από τα μεταλλευτικά έργα στις τοπικές κοινωνίες, δημιουργεί κοινωνικές αντιδράσεις και αντιστάσεις . Η αποκατάσταση των εγκαταλελειμμένων μεταλλείων αναφέρεται ως βασική προτεραιότητα .

4. Ανάπτυξη δεξιοτήτων και καινοτομίας: Υπάρχει αναντιστοιχία μεταξύ των δεξιοτήτων του εργατικού δυναμικού και των αναγκών της σύγχρονης μεταλλευτικής βιομηχανίας . Η προώθηση εκπαιδευτικών προγραμμάτων και η ενίσχυση της έρευνας, σε συνεργασία με φορείς όπως η ΕΑΓΜΕ, και ερενητικά και ακαδημαϊκά κέντρα της χώρας, είναι απαραίτητη για μια ανταγωνιστική και βιώσιμη ανάπτυξη .

Συνοψίζοντας, η Ελλάδα δεν ξεκινά από το μηδέν. Το γεγονός ότι έχει ήδη συμπεριληφθεί σε μελέτη του ΟΟΣΑ για τη Στερεά Ελλάδα  και αποτελεί αντικείμενο αναφοράς στις εκθέσεις του ΔΟΕ, δείχνει ότι βρίσκεται στον ραντάρ των διεθνών οργανισμών. Ωστόσο, για να μεταβεί από περιφερειακή αναφορά σε στρατηγική μελέτη υψηλού κύρους (όπως της Νορβηγίας), χρειάζεται να εφαρμόσει το πλαίσιο πολιτικών που προτείνει ο ίδιος ο ΟΟΣΑ. Οι παρεμβάσεις αυτές δεν είναι πολυτέλεια, αλλά προϋπόθεση για να μετατραπεί ο ορυκτός πλούτος σε εθνικό πλεονέκτημα και διεθνή αναγνώριση. Η ένταξη του ελληνικού ορυκτού πλούτου σε αντίστοιχη μελέτη/έκθεση του ΔΟΕ θα συνέβαλε στη κατεύθυνση αυτή.

#ΚρίσιμεςΠρώτεςΎλες #Ελλάδα #ΟρυκτόςΠλούτος #IEA #OECD #Στρατηγική #Επενδύσεις #ΕΑΓΜΕ #CRMA

Unlocking the Hidden Value in Global Tailings: A Strategic Opportunity for Critical Minerals, Circular Economy, and Sustainable Growth

 

Overview

Mining tailings and waste rock have historically been regarded as environmental liabilities requiring long-term management and remediation. However, growing demand for critical minerals, combined with advances in mineral recovery technologies, is transforming these materials into valuable secondary resources.

An estimated 217 billion tonnes of tailings are currently stored worldwide in more than 30,000 active, inactive, and closed facilities. These deposits contain substantial quantities of metals and minerals that were not economically recoverable when the ores were originally processed. Today, many of these materials can be recovered using modern characterization, processing, and digital technologies.

The re-evaluation of tailings represents a unique opportunity to simultaneously strengthen critical mineral supply chains, improve environmental performance, and create new economic value from existing assets.

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Why It Matters

Securing Critical Mineral Supply

Many tailings deposits contain minerals that are essential for clean energy technologies, advanced manufacturing, and digital infrastructure, including:

• Rare Earth Elements (REEs)

• Cobalt

• Gallium

• Scandium

• Germanium

• Indium

• Tellurium

• Copper and Nickel

Recovering these minerals from existing waste streams can reduce dependence on imports, diversify supply chains, and enhance national resource security.

Supporting the Energy Transition

The transition to renewable energy systems, electric vehicles, battery storage, and advanced electronics is expected to drive unprecedented demand for critical minerals. Tailings are a domestic, lower-impact source of many of these strategic commodities.

Advancing Circular Economy Objectives

Tailings reprocessing embodies the principles of a circular economy by recovering value from existing materials rather than relying solely on new extraction. In addition to metal recovery, tailings can be utilised for construction materials, mine backfill, land rehabilitation, and carbon sequestration.

Delivering ESG and Environmental Benefits

Responsible tailings valorisation can:

• Reduce long-term environmental liabilities

• Mitigate acid mine drainage and contamination risks

• Improve mine closure outcomes

• Restore land for alternative uses

• Support carbon reduction initiatives

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Economic Opportunity

The potential economic value contained within global tailings is significant. Studies suggest that the copper content alone may represent close to €1 trillion in potential value at current market prices. When gold, cobalt, rare earth elements, and other critical minerals are included, the aggregate opportunity is substantially larger.

Compared with greenfield mining projects, tailings reprocessing may offer:

• Lower capital intensity

• Existing infrastructure access

• Reduced permitting complexity

• Faster project development timelines

• Lower environmental footprint

These advantages are attracting growing interest from mining companies, technology providers, investors, and governments worldwide.

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Key Challenges

To realize this opportunity, several challenges must be addressed:

• Resource characterisation and data quality

• Regulatory and ownership frameworks

• Water and energy requirements

• Management of secondary waste streams

• Community engagement and social acceptance

• Development of viable business models

Targeted public policies, investment incentives, and public-private partnerships can play a critical role in overcoming these barriers.

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Strategic Recommendations

1. Recognise mine tailings as strategic secondary mineral resources.

2. Support research, innovation, and pilot projects focused on critical mineral recovery.

3. Develop regulatory frameworks that facilitate responsible tailings reprocessing.

4. Encourage public-private partnerships to address legacy and orphaned sites.

5. Integrate tailings valorisation into national critical minerals and circular economy strategies.

6. Promote investment in advanced characterisation, processing, and carbon mineralisation technologies.

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Conclusion

The mining wastes of the past are increasingly becoming the strategic mineral reserves of the future. Unlocking the value contained within global tailings offers a rare opportunity to enhance resource security, accelerate the energy transition, strengthen industrial competitiveness, and improve environmental outcomes simultaneously.

For governments, investors, and industry leaders, tailings valorisation represents not only a resource opportunity but also a pathway toward a more resilient, sustainable, and circular minerals economy.

CRMA Strategic Projects and RESourceEU Action Plan

 

The European Critical Raw Materials Act (CRMA), which entered into force in May 2024, is designed to strengthen Europe's security of supply for critical and strategic minerals needed for the energy transition, digital technologies, defence, and industrial competitiveness. By 2030, the EU aims to source at least 10% of its consumption through domestic extraction, 40% through EU processing, and 25% through recycling, while reducing dependence on any single third country to below 65%. 

First Call: Approved Strategic Projects (2025)

The first CRMA selection round resulted in the designation of 60 Strategic Projects:

• 47 projects located in the EU (approved in March 2025) 

• 13 projects located in third countries and overseas territories (approved in June 2025) 

These projects span extraction, processing, recycling, and substitution activities and cover 14 strategic minerals, including lithium, nickel, cobalt, graphite, rare earth elements, copper, tungsten, and magnesium. Together they represent approximately €22.5 billion of investment and are expected to play a major role in achieving the CRMA's 2030 targets. 

Particular emphasis is placed on minerals essential for batteries and clean technologies:

• 22 lithium projects 

• 12 nickel projects 

• 10 cobalt projects 

• 11 graphite projects 

These projects are expected to enable the EU to meet its lithium and cobalt targets and significantly improve supply security for other strategic minerals. 

Second Call: Project Proposals (2025–2026)

The second CRMA call closed in January 2026 and attracted more than 160 applications, demonstrating strong market confidence in the CRMA framework. 

The application profile highlights the growing importance of strategic value chains:

• 75 applications relate to the battery value chain, making it the dominant category. 

• 21 applications focus on rare earth elements for permanent magnets, critical for wind turbines, electric vehicles, and defence technologies. 

• Additional proposals address defence-related minerals and other strategic raw materials. 

Geographically:

• 95 applications originated within the EU. 

• 66 applications came from outside the EU. 

• 40 applications were submitted from countries with which the EU has strategic raw materials partnerships. 

All proposals are undergoing technical assessment by independent experts before final selection. 

RESourceEU Action Plan

The RESourceEU Action Plan was launched to accelerate the implementation of the CRMA and ensure the rapid delivery of strategic projects. It responds to increasing geopolitical risks, concentrated supply chains, and rising demand for critical minerals. 

Key objectives include:

• Accelerating strategic project deployment through faster permitting and regulatory support. 

• Mobilising financing via EU funds, Member States, and the European Investment Bank. 

• Strengthening international partnerships to diversify supply sources. 

• Enhancing resilience and crisis preparedness through monitoring, stress testing, and coordinated response mechanisms. 

A central feature is the use of the Internal Market Emergency and Resilience Act (IMERA) toolbox, enabling the EU to monitor supply chains, identify shortages, coordinate stockpiles, organise joint purchasing, and respond collectively to disruptions. 

Key Takeaway

The first CRMA round established a portfolio of 60 strategic projects worth €22.5 billion to strengthen Europe's mineral supply chains. The second round shows even stronger momentum, with battery materials and rare earth magnets emerging as the dominant priorities. Supported by the RESourceEU Action Plan, the EU is moving from policy design to implementation, seeking to build a more resilient, diversified, and secure critical minerals ecosystem for Europe's industrial and economic future

In summary

The Critical Raw Materials Act (CRMA) is a cornerstone of the EU's strategy to secure a resilient and sustainable supply of critical minerals needed for the energy transition, digital technologies, defence and industrial competitiveness. In the first selection round, the European Commission designated 60 Strategic Projects, including 47 in the EU and 13 in partner countries and overseas territories, covering key minerals such as lithium, nickel, cobalt, graphite and rare earth elements. These projects are expected to strengthen European supply chains and support the EU's 2030 objectives for extraction, processing and recycling.

The second call for Strategic Projects, which closed in January 2026, attracted more than 160 applications, demonstrating strong industry interest. The battery value chain emerged as the dominant focus, accounting for 75 applications, while 21 projects targeted rare earth elements for permanent magnets, which are essential for wind turbines, electric vehicles and defence technologies. Applications came from both EU and non-EU countries, reflecting the global importance of securing strategic mineral supplies.

To accelerate implementation, the European Commission launched the RESourceEU Action Plan, which supports Strategic Projects through faster permitting, improved access to financing, stronger international partnerships and enhanced supply chain resilience. The Action Plan also leverages the Internal Market Emergency and Resilience Act (IMERA) toolbox to monitor critical mineral supply chains, coordinate responses to disruptions and strengthen Europe's economic security. Together, the CRMA, Strategic Projects and RESourceEU Action Plan form a comprehensive framework to reduce dependencies, diversify supply sources and build a more secure and competitive European minerals ecosystem.

National Critical Minerals Lists: A Comparative Guide to Global Strategies and Supply Chain Vulnerabilities

 

National Critical Minerals Shaping Our World

Many countries have developed critical raw materials lists. These lists differ substantially between nations because each country defines "criticality" based on its own unique industrial needs, strategic priorities, and specific vulnerabilities within global supply chains.

Comparing National Critical Materials Lists

Here’s a comparison of the key criteria and focus for lists from major economic blocs:

European Union (EU)

• Official List Name: EU Critical Raw Materials (CRMs) & Strategic Raw Materials (SRMs)

• Number of Materials: 34 CRMs, of which 17 are designated as SRMs

• Primary Strategic Focus: Green & digital transitions (e.g., electric vehicles, renewables, defense)

• Key Criteria: High economic importance for the EU + supply risk; strong focus on sustainability and circular economy

• Example Distinct Materials: Barite, feldspar, strontium (industrial minerals)

United States (US)

• Official List Name: USGS Critical Minerals List

• Number of Materials: Over 50

• Primary Strategic Focus: National security & economic stability

• Key Criteria: Supply disruption risk + economic importance; significant emphasis on import dependence

• Example Distinct Materials: Silver, platinum, potash (precious & agricultural-related)

United Kingdom (UK)

• Official List Name: UK Critical Minerals List

• Number of Materials: Based on assessment (specific number not in sources)

• Primary Strategic Focus: Industrial resilience (aerospace, defense, automotive, etc.)

• Key Criteria: Supply concentration risk + industrial necessity

• Example Distinct Materials: Ferro-niobium, magnesium

Why Critical Materials Lists Differ

The differences arise from how each nation defines and assesses "criticality":

• Economic and Industrial Structure: A country with a large aerospace and defense industry (like the UK) may prioritize different materials (e.g., niobium for high-strength steel) than one focused on mass EV production.

• Geopolitical & Security Posture: The U.S. list's broader scope reflects a traditional security perspective, while the EU's focus stems from vulnerabilities exposed by recent supply shocks.

• Supply Chain Vulnerabilities: Different dependencies create different priorities. For instance, the EU's high dependence on a single country for many processed materials directly shapes its list and strategic actions.

• Strategic Vision: The EU explicitly ties its list to the "twin transitions" (green and digital), embedding it within climate policy.

Global Partnerships and Value Chain Strategies

In response to concentrated supply chains, nations are forming partnerships to diversify sources and build resilience:

Major Global Partnerships:

• Minerals Security Partnership (MSP): A US-led initiative of "like-minded" countries aiming to catalyse public and private investment in responsible critical minerals projects worldwide.

• UK-US Memorandum of Understanding: A bilateral agreement to encourage private investment, share knowledge, and jointly support mining and processing projects.

• EU's Global Gateway & Bilateral Agreements: The EU uses its Global Gateway strategy to fund sustainable infrastructure and has signed partnerships, for example with South Africa, to develop "clean tech" and mineral value chains.

Value Chain Focus:

The strategic goal is to move beyond simple extraction. Initiatives aim to help resource-rich developing countries capture more value by building mid-stream processing capacity (refining, separating) and creating "forward and backward linkages" to other domestic industries. However, the EU's focus on high ESG standards and complex bureaucracy has reportedly slowed its financial deployment compared to other global players.

Key Insights and Challenges

• Diversification is Geologically Possible but Socially Complex: While mineral resources are globally dispersed, successful new projects require navigating increasing local socio-environmental conflicts and building genuine community trust, not just technical investment.

• The "Mid-Stream" is the Real Bottleneck: The most extreme concentration often occurs at the processing stage. For example, China refines nearly 90% of rare earths and over half of the world's lithium. Building alternative processing capacity is a core goal of many partnerships.

• A Trifecta of Competition: Major economies are competing for resources, not just with China, but also with each other and with resource-rich nations determined to retain more economic benefits from their own resources.

The Road Ahead

The critical minerals landscape is defined by a push for strategic autonomy and a simultaneous need for global cooperation. Success depends on a country's ability to form trusted, mutually beneficial partnerships that address the full value chain—from responsible extraction and processing to recycling—while navigating a world where resource competition is intensifying.

Here is a comparison of official critical materials lists from major economic regions. The lists differ as each country/region assesses "criticality" based on its own economic needs, vulnerabilities, and strategic goals.

Interpreting the Differences

The table shows both common concerns and distinct priorities:

• Shared Core for Clean Tech: Cobalt, Lithium, Graphite, and Rare Earth Elements (REEs) appear on all lists, highlighting their universal importance for electric vehicles, renewables, and digital tech.

• Diverging Industrial & Strategic Needs: Unique listings reflect specific economic structures. The EU includes Coking coal (steelmaking) and Silicon metal (solar panels). The UK's Growth Minerals List adds Copper and Uranium for future energy infrastructure. The U.S. lists minerals like Arsenic and Cesium important for high-tech and defense, while China lists Gold (financial security) and Uranium (nuclear energy ambitions).

Current Trends and Partnerships

The policy response is moving towards greater supply chain control and partnerships:

• From Lists to Action: Lists are now linked to actionable policy. Both the EU's Critical Raw Materials Act and the UK's Vision 2035 strategy set hard targets for domestic production, processing, and recycling.

• Focus on "Midstream" Processing: A key vulnerability is that countries may mine minerals but lack the capacity to refine them into usable forms. For example, over 70% of the world's cobalt is refined in China. New policies explicitly aim to build processing capacity.

• Global Partnerships: Countries are forming alliances to diversify supply. The UK strategy emphasizes deepening international growth partnerships. The U.S.-led Minerals Security Partnership (MSP) is a key example of countries coordinating to invest in responsible global supply chains.

The Halkidiki Metallogenetic System: A Complete Porphyry–Epithermal–Carbonate Replacement Complex in Northern Greece

 

Fig. 1: The NE Halkidiki metallogenetic evolution at a glance.  The “black stones” are not waste but a direct exploration target and a guide to rich polymetallic mineralization below.

"A Natural Laboratory for Magmatic-Hydrothermal-Structural Ore Formation"

Abstract

The northeastern Halkidiki Peninsula in central Macedonia, northern Greece, hosts one of the most complete and well-exposed magmatic-hydrothermal-structural metallogenetic systems of Tertiary age. Centered around the Skouries porphyry Cu–Au–Pd deposit, the system includes all expected deposit types of a porphyry-related province: (1) porphyry Cu–Au, (2) carbonate-replacement polymetallic (Zn–Pb–Ag–Au) deposits with supergene Fe–Mn oxides (Mavres Petres), (3) skarn (Zn–Cu), and (4) epithermal quartz–gold veins. This article presents the metallogenetic model, key structural controls, and surface expressions, integrating geological cross-sections and structural maps. The Halkidiki system serves as an exceptional training ground for geoscientists and a reference for porphyry exploration worldwide.

1. Introduction

The NE Halkidiki area is one of Greece’s most significant metallogenetic provinces. It has been mined since antiquity (Olympias, Vina) and remains active today. Unlike many eroded or poorly preserved porphyry systems, Halkidiki exhibits a full vertical and lateral zonation from deep porphyry-style mineralisation to shallow epithermal veins and supergene enrichments. This makes it a unique educational and exploration reference model.

2. Regional Geological Setting

The area belongs to the Serbo-Macedonian zone, a crystalline basement complex reworked during Alpine orogenesis. During the Tertiary (mostly Oligocene–Miocene), post-collisional extension and calc-alkaline magmatism generated a series of intrusive bodies (granodiorites, monzonites, porphyries). These intrusions were emplaced into:

• Marbles (carbonate hosts for replacement deposits and skarn)

• Gneisses and schists (hosts for vein-style deposits)

• Fault systems that controlled fluid flow and ore deposition

The result is a magmatic-hydrothermal system active from ~22 Ma to ~18 Ma.

3. The Four Main Deposit Types (Fully Developed; Fig.1)

3.1 Porphyry Cu–Au–Pd (Skouries, Fisoka)

The Skouries deposit is the core of the system. A monzonite porphyry intrusion carries disseminated and stockwork chalcopyrite, bornite, and gold, with significant palladium credits. Alteration is zoned (potassic → phyllic → propylitic). The Skouries porphyry alone represents a world-class Cu–Au resource.

3.2 Carbonate-Replacement Polymetallic Deposits (Olympias, Stratoni, Mavres Petres)

When the same hydrothermal fluids migrated into marble beds, they formed massive, stratabound, and fault-controlled Zn–Pb–As–Ag–Au–Sb bodies. These are the Olympias and Stratoni mines. At surface, these sulfide bodies oxidize to form Mavres Petres (Black Rocks) – Fe–Mn oxides/hydroxides enriched in base and precious metals. These supergene “black stones” are a direct exploration vector to rich polymetallic sulphide replacement bodies at depth.

3.3 Skarn (Madem Lakkos)

At the contact between porphyry intrusions and carbonate rocks, Zn–Cu skarn formed. Madem Lakkos is a typical example, with garnet, pyroxene, and sulphides (sphalerite, chalcopyrite).

3.4 Epithermal Quartz–Gold Veins (e.g., Vina area)

Along fault-controlled silicification zones, epithermal and epi-mesothermal quartz veins carry Au, Ag, Pb, Zn, Fe, Mn, and As. These represent the shallowest, brittle expression of the system.

Fig. 2: The Vina zone is not an isolated occurrence but part of the same structural-metallogenetic framework that feeds the Olympias–Stratoni–Skouries complex.

4. Structural Control: The Vina Fault Zone (Fig. 2)

As shown in the attached structural map, a major epi-mesothermal fault-hosted metalliferous zone trends through the broader area. Sub-areas identified include:

• Vina

• Zepkos

• Papades

• Gyftissa

• Giannavos

• Koutsoumbos

These structures acted as conduits for hydrothermal fluids, localizing epithermal Au–Ag–Pb–Zn–Fe–Mn–As mineralisation. The map also shows the proximity to Olympias, demonstrating the lateral continuity of the system over several kilometres.

5. Schematic Metallogenetic Model (Fig. 1)

Fig. 1 (schematic cross-section) beautifully illustrates:

• Upper part: “Mavres Petres” (black rocks) – supergene Fe–Mn oxides formed by oxidation of sulfides.

• Below: Massive polymetallic sulphide replacement bodies (manto/Olympias-type).

• Deeper: The Skouries porphyry Cu–Au system, with stockwork and disseminated mineralisation.

• Vertical exaggeration (2×) and scale (~125,000) are indicated.

This cross-section is critical for understanding vertical zoning:

Surface geochemical anomalies (Fe–Mn, As, Sb, Au) → At depth → Zn–Pb–Ag–Au massive sulphides → Further depth → Cu–Au porphyry.

6. Why Halkidiki is a “Training Spot” for Geoscientists

For an aspiring economic geologist, Halkidiki offers hands-on learning in:

• Porphyry alteration mapping

• Carbonate replacement textures

• Supergene oxidation and enrichment

• Fault-hosted epithermal veins

7. Conclusions

The NE Halkidiki metallogenetic system is a Tertiary, porphyry-centered, structurally controlled ore province where all major deposit types are preserved and accessible. The two attached figures – a conceptual cross-section and a structural geology map – are not merely illustrative but operational tools for exploration. As global demand for Cu, Au, Zn, and Pb rises, Halkidiki stands as both a production district and a geoscientific reference model.

Suggested Reading & Keywords

Porphyry Cu–Au, carbonate replacement, epithermal gold, Mavres Petres, Skouries, Olympias, Stratoni, Serbo-Macedonian massif, supergene oxidation, structural metallogeny.

Relevant reference sources

 Porphyry & Magmatic System

This group focuses on the Skouries porphyry Cu-Au-Pd-Pt deposit, which sits at the core of the hydrothermal system.

• Economou-Eliopoulos, M., Zaccarini, F., & Garuti, G. (2023). Fertility Indicators for Porphyry-Cu-Au+Pd±Pt Deposits: Evidence from Skouries, Chalkidiki Peninsula, Greece. Minerals, 13(11), 1413.

o Why it matters: Directly addresses the unique PGE (Platinum Group Elements) enrichment at Skouries. It compares fertile vs. barren magmas, supporting the mantle-source theory.

• Eliopoulos, D. G., & Economou-Eliopoulos, M. (1991). Platinum-Group Element and Gold Contents in the Skouries Porphyry-Copper deposit. Economic Geology, 86(4), 740-749.

o Why it matters: The foundational paper confirming the high Pd-Pt content of Skouries, linking geochemical data to the observed mineral assemblages.

• Zhang, X., Nie, F., & Wang, J. (2015). Geological characteristics and metallogenic model of the Skouries porphyry copper-gold-platinum group element deposit, Greece. Geological Bulletin of China, 34(6), 1203-1216.

o Why it matters: A comprehensive overview (in English) of the deposit’s characteristics, alteration zones (potassic, propylitic), and age constraints (emplacement at ~19 Ma).

 Carbonate Replacement & Supergene (Mavres Petres)

This group supports the section on carbonate-replacement deposits (Olympias, Stratoni) and the origin of Mavres Petres (Black Rocks).

• Siron, C. R., et al. (2018). Origin of Au-Rich Carbonate-Hosted Replacement Deposits of the Kassandra Mining District. Economic Geology.

o Why it matters: A definitive study on the Olympias and Madem Lakkos deposits. It explains the transition from skarn to massive sulfide and the dilution of magmatic fluids by meteoric water (crucial for understanding the supergene process).

• Kalogeropoulos, S. I., Frei, R., Nikolaou, M., & Gerouki, F. (1990). Origin and metallogenetic significance of the Tertiary Stratoni "Granodiorite". Bulletin of the Geological Society of Greece, 26, 23-38.

o Why it matters: Uses isotopic evidence to link the Stratoni granodiorite to the mineralization, clarifying the magmatic-hydrothermal connection you described.

• HELLINGWERF R., ARVANITIDIS  N. D. et al. (1993) : Ore geology, exploration tools and new targets  for non-outcropping ore deposits in Chalkidiki N. Greece final report in : IGME-EEC project : MA2M-0015 : "Carbonate-hosted precious and base metal mineralization in Greece : development new exploration strategies.

 Structural & Tectonic Controls

This group is essential for integrating your second image (Map of Vina) and explaining the structural framework.

• Siron, C. R., Rhys, D., Thompson, J. F. H., et al. (2018). Structural controls on porphyry Au-Cu and Au-rich polymetallic carbonate-hosted replacement deposits of the Kassandra mining district. Economic Geology, 113(2), 309-345.

o Why it matters: The best reference for the Vina-Stratoni fault system. It details how extensional tectonics and specific fault geometries controlled the location of the ore bodies, validating the "structural control" point in your article.

• Thedoroudis A. C., Arvanitides N., Dimou E. - (1999) - Geology and ore mineralogy in the Vina area, NE Chalkidiki - I.G.M.E. Thessaloniki. Internal report (In Greek) p.34, 1999.

 Educational & Contextual Resources

• Arvanitidis, N. (2012). New metallogenetic concepts and sustainability perspectives for non-energy metallic minerals in Central Macedonia, Greece. Bulletin of the Geological Society of Greece, 43(5), 2437-2448.

o Why it matters: Provides the regional context for why this area is a "natural laboratory," synthesizing the metallogeny of the broader Serbo-Macedonian zone.

• Mindat.org – Skouries Deposit.

o Why it matters: A reliable, community-sourced database listing all known mineral species from the district, including rare PGE minerals like merenskyite, which you can use to verify specific mineralogy.

Χάρτης δυνητικών συγκεντρώσεων Στρατηγικών και Κρίσιμων Ορυκτών (ΣΚΟ) στην Ελλάδα: Μεταλλογενετικά συστήματα, κοιτασματολογικοί τύποι και προοπτικές αξιοποίησης

 

Εισαγωγή

Ο εισαγωγικός χάρτης αποτυπώνει τις δυνητικές συγκεντρώσεις Στρατηγικών και Κρίσιμων Ορυκτών (ΣΚΟ) σε μεταλλεία, κοιτάσματα και μεταλλοφορίες της Ελλάδας. Αποτελεί μια συνθετική απεικόνιση των διαθέσιμων δημοσίων γεωεπιστημονικών δεδομένων, με έμφαση στη γεωγραφική κατανομή και τη γενετική ταξινόμηση των εμφανίσεων.

Δύο κυρίαρχα Μεταλλογενετικά Συστήματα

Ο χάρτης οργανώνεται γύρω από δύο κύρια μεταλλογενετικά συστήματα (mineral systems), όπως αυτά ορίζονται στη διεθνή οικονομική γεωλογία:

1. Μεταλλογενετικό Σύστημα Χημικής Αποσάθρωσης (Chemical Weathering)

Περιλαμβάνει κοιτασματολογικούς τύπους που προέκυψαν από διεργασίες επιγενετικής διάβρωσης και συγκέντρωσης υπό τροπικές ή υποτροπικές κλιματικές συνθήκες:

• Λατερίτες νικελίου (Ni, Co)

• Βωξίτες αλουμινίου (Al, Ga, Sc, REE)

• Υπεργενετικό μαγγάνιο (Mn)

• Φωσφορίτες (P, REE)

2. Μαγματικό/Υδροθερμικό Μεταλλογενετικό Σύστημα (Magmatic/Hydrothermal)

Περιλαμβάνει τύπους που συνδέονται με πυριγενή και υδροθερμική δραστηριότητα:

• Πορφυρικού χαλκού-χρυσού (Cu, Pd)

• Σκαρν (Cu, W, Mo, Bi)

• Πολυμεταλλική αντικατάσταση ανθρακικών Zn-Pb-Ag-Au (As, Sb)

• Ηφαιστειογενή θειούχα (VMS) Zn-Pb-Ag (Cu, Ge)

• Επιθερμικός χρυσός (Cu, Bi)

• Αλκαλικός μαγματισμός (REE, Li, Be, B)

• Φλέβες σχετιζόμενες με διεισδύσεις (Sb)

Επεξήγημα χάρτη: Σύμβολα, περιοχές και κοιτασματολογικοί τύποι

Στο επάνω αριστερό τετράπλευρο παρατίθενται όλοι οι κοιτασματολογικοί τύποι που απαντώνται στην Ελλάδα, ανεξάρτητα αν εντάσσονται στα δύο παραπάνω συστήματα, μαζί με τα συνοδά ΣΚΟ (π.χ. γερμάνιο σε VMS, γάλλιο και σκάνδιο σε βωξίτες, REE σε μοναζίτη).

Στον κεντρικό πίνακα (25 εγγραφές) δίνονται:

• Ονομασία θέσης / Περιφερειακή Ενότητα

• Μεταλλογενετικό σύστημα και τύπος κοιτάσματος

• Σύμβολο μετάλλου (π.χ. Ag, Al, Co, REE, Sb, W, Zn)

• Ονομασία μετάλλου

Οι θέσεις είναι γενικευμένες και οι τοποθεσίες ενδεικτικές, ώστε να εξυπηρετείται η επισκόπηση του δυναμικού ΣΚΟ σε εθνική κλίμακα.

Μεταφραστικές και ταξινομικές διευκρινίσεις

Λαμβάνοντας υπόψη τη γεωπιστημονική ορολογία:

1. Ο όρος «Μεταλλογενετικό Σύστημα» επιλέχθηκε έναντι του ευρύτερου «Ορυκτολογικού Συστήματος», διότι ο χάρτης αναφέρεται αποκλειστικά σε μεταλλικά ορυκτά (από τα οποία παράγονται μέταλλα).

2. Διεθνώς, το «Mineral System» αποδίδεται ακριβέστερα ως «Ορυκτολογικό Σύστημα», καθώς περιλαμβάνει και βιομηχανικά ορυκτά (γύψος, αλίτης, κ.ά.).

3. Ο προσχωματικός παράκτιος μοναζίτης (REE) εμφανίζεται με μπλε χρώμα διότι, αν και γενετικά συγγενής με το σύστημα χημικής αποσάθρωσης, ανήκει τυπικά στο «Ορυκτολογικό Σύστημα Προσχωματικών Αποθέσεων» (placer deposits), που σχετίζεται με διαχρονική διάβρωση και ιζηματογένεση.

Βαθμός κοιτασματολογικής ετοιμότητας

Ένα κρίσιμο στοιχείο του χάρτη είναι η διάκριση με βάση την κοιτασματολογική «ωριμότητα»:

• Ενεργά μεταλλεία (πρώτη γραμμή δυνητικής εκμετάλλευσης ΣΚΟ)

• Αργούντα μεταλλεία

• Βεβαιωμένα κοιτασματολογικά αποθέματα

• Πιθανά αποθέματα

• Μεταλλοφορίες (ενδείξεις χωρίς τεκμηριωμένη οικονομική βιωσιμότητα)

Η παρουσία ΣΚΟ σε ενεργά μεταλλεία τα καθιστά υποψήφια για άμεση αξιολόγηση ως συνοδά (by-product) ορυκτά.

Περισσότερα σχετικά στοιχεία στον παρακάτω πίνακα όπου προτεινόμενη κατηγοριοποίηση με χρώματα/σύμβολα, γίενεται βάσει της υπάρχουσας μεταλλευτικής δραστηριότητας,

Κύρια ορυκτά έναντι συνοδών ΣΚΟ

Πέρα από το αλουμίνιο, το νικέλιο και τον χαλκό (που αποτελούν κύρια και στρατηγικά για την ΕΕ ορυκτά), τα ΣΚΟ που εμφανίζονται στις παρενθέσεις αποτελούν συνήθως συνοδά συστατικά. Η αξιοποίησή τους ως υποπροϊόντων μπορεί:

• Να αυξήσει τη βιωσιμότητα ενός κοιτάσματος

• Να μεγιστοποιήσει την αναπτυξιακή συμβολή της μεταλλευτικής δραστηριότητας

Η εθνική διάσταση: Από τα ΣΚΟ σε χάρτη στα παραγόμενα υποπροϊόντα

Για να αποτελέσουν τα ΣΚΟ στην πράξη «εθνικά υποπροϊόντα», απαιτείται καθετοποιημένη μεταλλευτική βιομηχανία: από την εξόρυξη έως τη μεταλλουργική παραγωγή εντός χώρας.

Παράδειγμα: Η παραγωγή γαλλίου από βωξίτες στην Ελλάδα είναι εφικτή επειδή υπάρχει καθετοποιημένη βιομηχανία αλουμίνας και αλουμινίου. Αντίθετα, ελλείψει καθετοποίησης, η πρόσθετη αξία (τεχνογνωσία, απασχόληση, φόροι, εμπορικό όφελος) μεταφέρεται στο εξωτερικό.

Πίνακας ΣΚΟ ανά τύπο κοιτάσματος με δυνατότητα καθετοποίησης

Το παραπάνω αποδεικνύει ότι η Ελλάδα έχει ήδη μια καθετοποιημένη γραμμή μόνο για τους βωξίτες/αλουμίνιο, γεγονός που της επιτρέπει να παράγει γάλλιο. Για τα υπόλοιπα ΣΚΟ, η «ώριμη» κοιτασματολογική έρευνα δεν αρκεί — χρειάζεται βιομηχανική πολιτική καθετοποίησης.

Συμπέρασμα: Μια χώρα διαθέτει πραγματικά ΣΚΟ (και εν γένει ορυκτό πλούτο) μόνο όταν μπορεί να τα παράγει σε μεταλλική μορφή εντός της επικράτειάς της, λειτουργώντας όλη την αλυσίδα αξίας ολοκληρωμένα, κυκλικά και εγχώρια.

Βιβλιογραφία

Hofstra, A.H., and Kreiner, D.C., 2020, Systems-Deposits-Commodities-Critical Minerals Table for the Earth Mapping Resources Initiative (ver. 1.1, May 2021): U.S. Geological Survey Open-File Report 2020-1042, 26 p., https://doi.org/10.3133/ofr20201042.

English Summary

Map of Potential Concentrations of Strategic and Critical Minerals (SCM) in Greece: Mineral Systems, Deposit Types, and Exploitation Perspectives

The map below illustrates the distribution of strategic and critical mineral occurrences across Greece, organized by mineral system type and deposit style. It highlights a wide range of resources, including volcanogenic massive sulfides (Zn-Pb-Ag with Ge), bauxite (Al-Ga-Sc-REE), laterites (Ni-Co), magnesite (Mg), sedimentary phosphorites (P), magmatic chromite (Cr with Pt-Pd), porphyry Cu-Au-Pd deposits, intrusion-related veins (Sb), supergene Mn, replacement polymetallic ores, placer monazite (REE), graphite, skarn (Cu-W-Mo-Bi), epithermal Au, and magmatic alkaline occurrences (REE-Li-Be-B).

The map categorizes these into two broad mineral systems:

• Chemical Weathering Mineral System (laterites, bauxite, supergene Mn, phosphorites)

• Magmatic/Hydrothermal Mineral System (porphyry, skarn, carbonate replacement, VMS, epithermal, magmatic alkaline, intrusion-related veins)

A table lists 25 indicative sites by name, regional unit, mineral system, and critical metal symbols (e.g., Ag, Al, Au, Co, REE, Sb, W, Zn). The map also differentiates occurrences by level of geological confidence (active mines, dormant mines, confirmed reserves, probable reserves, mineral occurrences).

Importantly, while Al, Ni, and Cu are primary (and EU-strategic) commodities, most SCM shown in parentheses occur as by-products. Their economic viability depends on vertical integration of the extractive metallurgy chain. Greece produces gallium from bauxite because it possesses an integrated alumina/aluminum industry; otherwise, the added value of most SCM would be captured abroad. Therefore, a country truly owns its SCM only when it can produce them in metallic form domestically, through a fully integrated, circular, and local value chain.

Reference: Hofstra & Kreiner (2020), USGS Open-File Report 2020-1042.

Graphite - The Critical Mineral of the Energy Transition - Geology, Global Control and the Future in Greece

Fig. 1: Overall profile characteristics referred to economic geology, global production, uses, value, and supply chains, circularity and substitution, and Greek ore potential of graphite.

Abstract

Graphite has emerged as one of the most strategic minerals worldwide, as it is a key component of lithium-ion batteries for electric vehicles and energy storage systems. This article examines the geology and deposit types of graphite, the global distribution of reserves and production, the evolution of demand, the control of supply chains, as well as the potential for recycling and substitution. Particular emphasis is given to the prospect of locating and exploiting graphite deposits in Greece.

Introduction

In an era where the energy transition and electromobility dominate global industrial and political discourse, few materials are as central as graphite. This crystalline form of carbon, known for its exceptional electrical conductivity, thermal stability, and lubricating properties, is the cornerstone of modern battery technology [1][4]. Despite its strategic importance, graphite remains largely "invisible" to the general public, although it lies at the heart of every smartphone, electric vehicle, and energy storage system. This article attempts a comprehensive overview of this mineral, from its geology to the geopolitical dimensions of its supply chain, with particular emphasis on Greece's prospects.

1. Geology and Deposit Types

Graphite is formed mineralogically through two main geological processes: regional metamorphism (orogenic origin) and contact with magmatic bodies (associated with intrusions). A modern approach, within the framework of mineral systems, classifies graphite deposits into two broader categories [1][7].

1.1 Orogenic Graphite

This category includes deposits formed during tectonic plate/continental collisions (orogenies) and is subdivided into:

• Flake Graphite: Formed primarily by graphitization of organic carbon during high-grade regional metamorphism (upper amphibolite to granulite facies). Zones of intense deformation and partial melting of rocks (anatexis) appear to play an important role in enriching the grade and quality of graphite [1][7].

• Vein/Lump Graphite: This is the rarest and highest-purity type. It is deposited from hydrothermal fluids, probably derived from deeper metamorphic or melting processes [1]. Decarbonation reactions in carbonate-calcic lithological alternations are the most likely source of carbon for vein formation [7].

1.2 Intrusion-Related Graphite

Formed in continental volcanic arcs through the interaction of magma with carbonate sedimentary rocks. Two subtypes include [1][7]:

• Magmatic-Hydrothermal: Hosted in plutonic and volcanic rocks and derived from CO₂- and CH₄-rich fluids.

• Contact Metamorphic: The effect of magmatic intrusions on carbonate sediments produces microcrystalline (amorphous) graphite deposits [1].

1.3 Temporal Distribution of Deposits

An important observation is that almost 75% of global known graphite reserves are associated with Cryogenian period sediments (approximately 720-635 million years ago) and their subsequent metamorphism that lasted until the Cambrian. This coincides with major fluctuations in the global carbon balance, suggesting a connection with the climatic instability of that period [1][7]. In contrast, few deposits are associated with the orogeny that led to the supercontinent Pangaea (approximately 300 million years ago), possibly due to limited erosion extent [7].

2. Global Reserves and Production Control

Graphite is characterized by a geographically concentrated and geopolitically sensitive supply chain. According to the latest USGS data (2025), global graphite reserves amount to 290 million tonnes [2][9].

2.1 Distribution of Reserves (Table 1)

Table 1: Presentation of the ten dominant countries rich in reserves and corresponding mining production of graphite. Source: USGS Mineral Commodity Summaries 2025, as presented in market research [2][8].

2.2 Characteristics of Global Distribution

• High concentration: The top three countries (China, Brazil, Madagascar) control over 62% of global reserves [2].

• The rise of Africa: Mozambique, Madagascar, and Tanzania together hold 70 million tonnes (24% of the total), emerging as a new, vital source of graphite for the West [2][9].

• Geographic dispersion: Despite China's dominance, reserves are distributed across Asia, Africa, the Americas, and Europe, offering opportunities for regional supply chains (e.g., Canada for North America) [2].

• Production (2025-2030): Global natural graphite production is expected to increase by 18.1% in 2025, reaching 1.83 million tonnes, with Mozambique as the main driver. This country is expected to increase its production sevenfold (to 247,500 tonnes) due to the start of operations at the Balama and Nipepe deposits.

2.3 Production Dominance – The Real Monopoly

China is not simply the country with the largest reserves. It controls 78% of global "ore" production, producing 1.27 million tonnes in 2024 [2][9]. Of this, 85% is flake graphite and 15% is microcrystalline [2].

However, the critical bottleneck is processing/refining. China almost completely dominates the conversion of raw graphite into high-purity spherical graphite for batteries, controlling the overwhelming share of the global graphite anode market (over 95%) [3][10]. This vertical integration (from mine to final product) gives it enormous geopolitical power.

2.4 Undeveloped and Unexplored Reserves

While "reserves" are well documented, there are significant undeveloped potential deposits, particularly in countries with low production rates relative to their reserves (e.g., Brazil, Vietnam, Turkey) [2]. Furthermore, Europe (especially Sweden and Finland) and Canada have developed projects. However, their full exploitation requires significant investments, given the current low graphite prices that render many "Western" projects non-competitive [3][9].

3. Uses and Demand Evolution

3.1 Key Applications

Graphite is used in an astonishing variety of industrial applications (Fig. 2):

• Lithium-ion batteries: The fastest-growing application. Graphite is the dominant material for the anode (the negative electrode). A typical EV battery contains 50-100 kg of graphite [2][4].

• Refractories: The traditional largest use, especially in foundries and steelmaking, where it is used in crucibles and furnace linings [4].

• Lubricants: Its layered structure makes it an excellent solid lubricant [5].

• Conductive materials: In electrodes, electric motor brushes, and electronic applications.

3.2 Market Size and Demand Forecasts

The global graphite market was valued at approximately €26 billion in 2024 and is forecast to reach €36 billion by 2030, with a Compound Annual Growth Rate (CAGR) of 5.41% [4]. Other estimates predict that by 2030, global natural graphite production will reach 3.78 million tonnes, representing a CAGR of 15.6%.

Demand for battery raw materials is forecast to increase dramatically, with graphite demand in 2040 expected to be 19 times higher compared to 2020 [10]. Analysts predict a market deficit as early as *2024*, due to the exponential increase in electric vehicle production [10].

Fig. 2: showing dominant uses of graphite with lithium batteries at the center (Source: Main uses of carbon and graphite, https://ecga.net/main-uses-of-graphite/)]

4. Value Chains and Supply Chain Control

The graphite value chain is a classic case study of strategic vulnerability:

• Mining: Relatively dispersed (China, Brazil, Africa).

• Concentration/Processing: Increases the grade from ~10% to over 90%.

• Spheronisation & Purification: The critical stage. The conversion of flake graphite into high-purity spherical graphite (99.95%) for batteries is done almost exclusively in China [3][9].

4.1 Geopolitical Developments

• China's Export Controls: In December 2023, China imposed licensing requirements for exports of flake and spherical graphite, causing concern in the global market [2][9].

• US Response: The US responded with tariffs of up to 160% on Chinese graphite anodes and initiated dumping investigations [3]. Companies such as Lomiko (Canada) received funding from the Department of Defense [2][9].

• EU Initiatives: The European Critical Raw Materials Act (CRMA) sets a target for the EU to process 40% of its annual consumption of strategic raw materials, such as graphite, by 2030 [4].

4.2 The Future – Diversification or Deficit?

The "West" is trying to develop alternative sources (Mozambique, Tanzania, Canada). However, processing remains the "Achilles' heel". Without massive investments in processing facilities outside China, dependence will remain high [3][10].

5. Substitution and Recycling Potential

Given the geopolitical risks, research into substitutes is intensive. The possibility of substitution depends on the application.

5.1 In Batteries: Hard Carbon and Silicon

• Hard Carbon: Non-graphitic carbon that can be produced from biomass or polymers. It is an alternative anode for sodium-ion (Na-ion) batteries, which are considered a complementary technology [9].

• Silicon Anodes: Silicon has a theoretical capacity 10 times greater than graphite. However, it faces expansion/contraction problems that limit its lifespan. The trend is towards the use of silicon-graphite composite materials (SiG), where graphite remains essential [9].

5.2 In Lubricants – Biochar

A promising development is the use of biochar from wheat residues. Recent studies show that biochar can completely replace graphite in mineral lubricants, retaining anti-scuffing properties and even improving anti-wear protection [5].

Specifically, no significant changes were observed resulting from the replacement of graphite with ecological biochar. The values of parameters responsible for anti-scuffing properties also indicate that complete replacement has no negative effect [5].

5.3 Limits of Substitution

• Thermal conductivity and stability: Under extreme conditions (refractories, high-speed friction), graphite remains unsurpassed.

• Cost and scalability: Silicon is expensive and technologically immature. Biochar, although cheap, has not been tested in all industrial applications.

5.4 Recycling Potential

Recycling graphite from spent lithium-ion batteries (LIBs) is an emerging market with enormous environmental and economic prospects. Recent research (2025-2026) has developed innovative "upcycling" methods.

• Traditionally, pyrometallurgical recycling for metal recovery leads to CO₂ emissions of over 3.2 million tonnes annually (by 2030).

• New methods, such as mechanochemical treatment with ball mills, allow the conversion of "waste" graphite into advanced materials for water purification or new anodes, without the use of corrosive acids. Some technologies have achieved material reuse with performance retention above 60% after five cycles.

6. The Greek Dimension – Prospects and Dynamics

According to previous metallogenetic research studies in the area of Thermes, in the Prefecture of Xanthi, dynamic potential graphite deposits have been identified. Relevant government announcements refer to an upcoming tender call for their potential exploitation.

6.1 Greek Graphite Deposits

• Diasparto – Thermes Area, Xanthi

This area belongs to Eastern Macedonia and Thrace, within the geotectonic zone of metamorphic rocks of the Rhodope massif. It is characterized by intense polyphase metamorphism and the presence of gneisses, marbles, and amphibolites. Historically, graphite occurrences have been reported in marbles and gneisses of the wider area, but no systematic drilling or quantification of the potential has been carried out. The area remains relatively under-explored by modern deposit-scale exploration criteria.

• Polyneri Area, Drama

Also located within the geotectonic zone of the Rhodope massif. Graphite occurrences are associated with metamorphic rocks such as mica schists and gneisses. It requires further deposit-scale investigation.

6.2 Why It Is of Strategic Importance

• European autonomy: Europe currently imports over 100,000 tonnes of graphite annually [5]. The development of Greek graphite could cover part of this demand, aligning perfectly with the goals of the CRMA.

• Geopolitical security: In an environment where China controls processing, every European source, even on a small scale, has enormous strategic value.

6.3 Challenges and Prospects

Challenges include:

• Purity and type: The flake graphite from Xanthi must be assessed for its suitability for batteries (flake size, purity). Microcrystalline graphite has lower economic value.

• Processing infrastructure: Greece (and Europe) lacks spheronisation plants. Either export of the concentrate or European cooperation for vertical integration will be required.

Conclusion

Graphite is emerging as one of the most critical minerals of the 21st century. Its geology is well understood and established, with the most significant deposits associated with orogenies and carbon-bearing geological formations and rocks. Despite the relative abundance of reserves, the global value chain is characterized by extreme geographical concentration, with China exercising almost absolute control over the critical processing stage.

The explosion in demand for electric vehicles and energy storage makes graphite a "bone of contention" in the new geopolitical reality. The "West" is in a race to develop alternative sources, with Africa (Mozambique, Tanzania) and Canada taking the lead. At the same time, research into substitutes (silicon, biochar) is advancing, but will hardly completely displace graphite in the next decade.

Greece, with the "potential" graphite deposits of Thrace, has a unique opportunity to position itself as a regional supplier of this critical mineral for the European Union. The potential exploitation of the potential reserve at Thermes will determine whether our country can turn this potential into productive reality, substantially contributing to European autonomy.

References

[1] Case, G.N.D. (2025). A time-space model of graphite mineral systems. Mineralium Deposita, 61, 783-810. https://doi.org/10.1007/s00126-025-01412-5 [1][7]

[2] ZDZN Research. (2025). Top 10 Countries by Global Natural Graphite Reserves (Updated 2025). ZDZN Anode Material Production Line Specialist. https://www.zdnaturalgraphite.com/top-10-countries-by-global-natural-graphite-reserves/ [2]

[3] Georgia Williams. (2025). Graphite Market Update: H1 2025 in Review. Nasdaq. https://www.nasdaq.com/articles/graphite-market-update-h1-2025-review [3]

[4] TechSci Research. (2025). Graphite Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2020-2030F. GII Research. https://www.giiresearch.com/report/tsci1879324-graphite-market-global-industry-size-share-trends.html [4]

[5] Kozdrach, K., & Radulski, W. (2026). The application of biochar as an alternative to graphite in mineral greases – Tribological and rheological property studies. Industrial Crops and Products, 222, 120299. https://www.sciencedirect.com/science/article/pii/S0926669026002992 [5]

[6] OT.gr Staff. (2025). Greece to Become Key Player in EU's Critical Raw Materials Supply. Οικονομικός Ταχυδρόμος. https://www.ot.gr/2025/02/16/english-edition/greece-to-become-key-player-in-eus-critical-raw-materials-supply/ [6]

[7] Case, G.N.D. (2025). A time-space model of graphite mineral systems (USGS Publication). USGS Publications Warehouse. https://pubs.usgs.gov/publication/70273084 [7]

[8] Three Piggybacks Report. (2026). Table 3-1: 2025 Global Top 10 Countries Graphite Reserves and Global Share. https://m.sgpjbg.com/hyshuju/f031dd59ed93e6d9c0cd6368b9068045.html [8]

[9] Martina Raveni, GlobalData. (2025). Can the West loosen China's grip on the global graphite market? Yahoo Finance / Mining Technology. https://finance.yahoo.com/news/west-loosen-china-grip-global-120029252.html [9]

[10] European Commission, Joint Research Centre (JRC). (2026). Lithium-based batteries supply chain challenges. RMIS - Knowledge for policy. https://rmis.jrc.ec.europa.eu/analysis-of-supply-chain-challenges-49b749 [10]