Mining enterprises to invest up to 400 million this year

Greek mining enterprises are planning investments worth 300-400 million euros for this year, focusing on targets such as the digitization of production, the supply of new machinery equipment and security, the president of the Association of Mining Enterprises, Athanasios Kefalas, said this week.

Addressing a special event in Athens, Kefalas noted, however, that problems such as energy costs, regulatory hurdles and a lack of workers are creating obstacles in the further development of the sector in a period when the European Green Deal is leading to an increase of demand for mineral sources offered by Greece.

He said that in 2022, the cost of electrical power grew by 160% and the cost of liquid fuel by around 40%, raising production costs by 25-50%.

Kefalas urged the lifting of regulatory and technical hurdles for the implementation of a stable electricity price for the mining industry, and the introduction of a 50% return on a special fuel tax.

He reiterated there were several-year delays in environmental licensing, and repeated a demand for completing a special land framework for mineral raw materials.