![Investments in the mining industry](https://www.ot.gr/wp-content/uploads/2021/04/εξορύξεις.jpg)
The mining and related metallurgy of our country is an extroverted sector with a significant footprint in the National Economy. Despite the ten-year economic crisis and the ongoing health crisis, the mining industry contributes steadily and significantly to the country’s GDP.
In the five years 2012-2016, the sector’s active companies decreased by 45%. Of these 5% were active in ore mining, 31% s in marble quarrying, and 47% in the extraction of aggregates while only 50% are profitable.
Although the country’s mineral resources are rich, value creation – or wealth – depends on a number of parameters related to the geological knowledge of the deposits, the international economic situation, the regulatory framework, and the available infrastructure. It is obvious that the mining industry has a high investment risk and low profitability, but the right investments can yield long-term and stable cash flows.
The important advantages of the Greek mining industry are also recognized by the Pissaridis Commission, which particularly emphasizes the presence in the international value chains and international competitiveness. It is estimated that mining, included in the provisions of the “Greece 2.0” Plan, can mobilize investments of more than half a billion euros concerning:
• Adapting to the challenges of Industry 4.0, with projects to upgrade metallurgical units and verticalize products.
• The modernization of mines and quarries with process automation, robotics applications and equipment changes in order to reduce the environmental footprint.
• The application of the principles of cyclical economy with utilization of secondary raw materials.
• Innovations in the production process, in mining research for finding new deposits and operation of innovative units for the exploitation of Mineral Raw Materials in the areas of de-lignification.
On the other hand, the most important critical issues that are an obstacle in its development course concern:
• The very slow and complicated environmental licensing, at times exceeding three to four years.
• The ambiguities in the transposition of European law regarding forest and quarry legislation.
• The exclusion of solid mineral mining in NATURA 2000 sites, despite the contrary provisions of European directives.
• The imposed changes in the Quarry Law, provisions which lead to increased operating costs.
• The significant burden faced by companies due to the calculation of mining fees based on the extent of concessions.
Mr. Athanasios Kefalas is the president of the Association of Mining Companies.
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
Latest News
![Energean Advances Development of Katlan Gas Field in Israel](https://www.ot.gr/wp-content/uploads/2024/07/thumbnail_Οι-άδειες-της-Energean-στην-Αν.-Μεσόγειο-και-οι-πιθανές-οδεύσεις-φυσικού-αερίου-1-600x530.png)
Energean Advances Development of Katlan Gas Field in Israel
The Katlan project is expected to unlock additional value in Israeli waters, enhancing energy security and supporting sustainable development in both Israel and the wider region.
![Uber: Tourism Season in Greece Expanding](https://www.ot.gr/wp-content/uploads/2024/07/EEVMTS_TOYRISTES_ATHINA-8-2048x1365-1-600x400.jpg)
Uber: Tourism Season in Greece Expanding
Uber, the US-based multinational said use of the app to hail a ride in Greece last April was up 72% compared with April 2023
![EU Commission Draft Report Includes Negative Remarks over Rule of Law in Greece](https://www.ot.gr/wp-content/uploads/2024/06/EU_flags_european_reuters_Yves_Herman-768x480-1-600x375.jpg)
EU Commission Draft Report Includes Negative Remarks over Rule of Law in Greece
The Commission report, which is expected to be released this week, highlights issues regarding the operation of the justice system, independent authorities, freedom of the press and the wiretapping case
![Two Greek Ferry Captains Arrested for Maritime Law Violations](https://www.ot.gr/wp-content/uploads/2024/07/ferry-600x411.jpg)
Two Greek Ferry Captains Arrested for Maritime Law Violations
A tale of two captains: One causes massive waves on a Mykonos beach, while another departs early from Santorini, leaving behind seven passengers
![Eurostat: Greece Still Has Highest Debt-to-GDP Ratio in EZ](https://www.ot.gr/wp-content/uploads/2024/07/euros2-1-600x338.jpg)
Eurostat: Greece Still Has Highest Debt-to-GDP Ratio in EZ
At the same time, the formerly bailed east Mediterranean country records the biggest decrease in debt-to-GDP, on a quarterly basis
![High Court Oks Athens Municipality’s Bid to Keep Height Restrictions Intact](https://www.ot.gr/wp-content/uploads/2024/07/ΑΚΙΝΗΤΑ-2048x1364-1-600x400.jpg)
High Court Oks Athens Municipality’s Bid to Keep Height Restrictions Intact
The city had petitioned for a temporary suspension of the higher-ranking entity’s decision to scrap its restrictions on increasing the height of buildings in much of the Greek capital.
![Athenians Depart Athens in Droves by Ferry from Piraeus Port](https://www.ot.gr/wp-content/uploads/2024/07/greece-tourism-600x400.jpg)
Athenians Depart Athens in Droves by Ferry from Piraeus Port
Ferries from Piraeus to the Cyclades and the Dodecanese are leaving at 75% occupancy
![Biden Steps Aside as Democratic Presidential Nominee](https://www.ot.gr/wp-content/uploads/2024/03/2024-03-05T201835Z_1175214693_RC2JOZ9125FM_RTRMADP_5_USA-BIDEN-600x400.jpg)
Biden Steps Aside as Democratic Presidential Nominee
In a statement, Biden expressed that stepping down was in the best interest of both his party and the country, allowing him to concentrate on his presidential duties for the remainder of his term
![Mitsotakis: It makes no sense for Cyprus, an EU member, to remain divided](https://www.ot.gr/wp-content/uploads/2024/07/Mitsotakis-1-600x387.jpg)
Mitsotakis: It makes no sense for Cyprus, an EU member, to remain divided
Greek PM's FB post comes a day after he spoke at a remembrance event on Cyprus on the occasion of the dour anniversary of the Turkish invasion of Cyprus
![Ursula von der Leyen: ‘The Cyprus question is a European one’](https://www.ot.gr/wp-content/uploads/2023/10/ursula-600x415.jpg)
Ursula von der Leyen: ‘The Cyprus question is a European one’
President von der Leyen's statement comes at a time when talks on the Cyprus problem are resuming