The sale of the 105-acre site of the “Greek Village” (Hellenic Village Ltd) on Gurner Avenue in Austral, New South Wales, was overturned in December 2024, after the original buyer withdrew.
Specifically, the agreement, which had been unanimously approved by the 21 Greek associations (Members), provided for the sale of the site for 117.5 million Australian dollars. However, the original buyer canceled the agreement, citing unresolved issues, including concerns about road access to the site.
However, the Board of Directors of Hellenic Village Ltd has now entered into negotiations with a third buyer, with a new offer of 119.5 million AUD, increased from the previous agreement, to include a AUD 200,000 donation to the Australian-Hellenic Future Fund.
The proceeds from the two transactions allowed the Board to repay the debts owed to the Bank of Sydney, marking a significant financial milestone. The control period for the new buyer is scheduled to end this month, with the final agreement expected to be signed in February 2026.
Meanwhile, another deal with Greek interest was recently completed with an Australian company. Athens Stock Exchange-listed Metlen Energy & Metals has entered into two long-term strategic agreements with Rio Tinto. The agreement ensures a stable supply of bauxite and alumina, supporting the expansion plans of the Aluminium of Greece plant in Agios Nikolaos, Viotia. As part of the investment to increase alumina production, Metlen aims to increase production from 865,000 to 1,265,000 tonnes per annum.
The bauxite supply agreement foresees that Rio Tinto will deliver 14.9 million metric tonnes of bauxite from the CBG mine in Guinea over 11 years (2027-2037), complementing Metlen’s local mining operations. In addition, the alumina supply agreement commits Metlen to supply 3.9 million metric tons of alumina to Rio Tinto from its new plant between 2027 and 2034, with an optional three-year extension to 2037.
(*) Information is from the Office of Economic and Trade Affairs in Sydney.
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