Month: February 2024

Copper concentrate production in Armenia decreased by 5.8%

In the year 2023, copper concentrate production in Armenia experienced a decline of 5.8% compared to the previous year. The RA Statistical Committee reported a total production of 289,607.9 tons of copper concentrate from January to December 2023, reflecting this decrease.

Additionally, zinc concentrate production dropped by 17.9% to 8,161.0 tons, while molybdenum concentrate production saw an increase of 4.6% to 23,353.5 tons during the same period.

In the metallurgy sector, ferromolibden production decreased by 15.6% to 7,738.1 tons. Conversely, steel pipe production surged by 43.4%, reaching 21,253.7 tons. However, aluminium foil production declined by 21.1%, totalling 25,669.5 tons.

February 13, 2024
Kyrgyzstan Cleans Up Uranium Mining Legacy

The Western Tian Shan mountains in the Kyrgyz Republic have a history of uranium mining that began in the mid-20th century and continued for several decades. Uranium mining in the region ceased by the early 1990s, and the collapse of the Soviet Union led to the abandonment of mining and processing sites. These sites were left without proper containment, leading to the exposure of local populations and the environment to contaminants. The small settlements of Min-Kush and Shekaftar, established in the late 1940s as uranium mining towns, faced unemployment and devastation after the industry’s decline.

In response to the environmental and social issues stemming from former uranium mining activities, the European Union initiated the establishment of the Environmental Remediation Account for Central Asia (ERA) in 2015. The European Bank for Reconstruction and Development (EBRD) was tasked with managing the ERA, leveraging its experience in decommissioning and remediation. The ERA received significant funding from the EU and additional donations from Belgium, Lithuania, Norway, Spain, Switzerland, and the United States, allowing remediation work to begin in the Kyrgyz Republic.

Between 2020 and 2022, the towns of Min-Kush and Shekaftar underwent full remediation, completed on schedule and under budget. This remediation work has mitigated the risk of radioactive pollution for local communities, making the towns environmentally safe and paving the way for sustainable economic activities such as tourism and eco-farming.

The remediation of these sites is crucial given the potential environmental effects of uranium mining, which can impact air quality, soil, surface water, groundwater, and biota. Uranium mining can lead to the release of radioactive materials and heavy metals, posing health risks to nearby communities.

The ERA’s efforts in Central Asia are part of a broader initiative to address the legacy of Soviet-era uranium mining in the region, with the goal of protecting human health and the environment from the hazards posed by abandoned uranium mining and processing sites.

February 12, 2024
Velocity Minerals Provides Update for the Zlatusha Copper-Gold Project in Bulgaria

Vancouver, British Columbia – Velocity Minerals Ltd. (TSX.V: VLC, OTCQB: VLCJF) (“Velocity” or the “Company”) provides an update on the ongoing exploration program at the Zlatusha copper-gold project (“Zlatusha” or the “Project”), located in the prolific Tethyan Belt that has potential for epithermal, porphyry, and skarn deposit discoveries. Phase I drill testing is planned for Q2 2024, with an initial 3,000m of diamond drilling to test priority copper-gold target areas.

2023 Highlights and Project Background

Exploration completed in 2023 includes detailed mapping over priority targets, 1,800 soil samples, 660 rock samples, a 4,500-station ground radiometric survey, and a property-wide 2,400 line-km drone magnetic survey. The magnetic survey (Figure 1) has been key in identifying target areas for follow-up with detailed mapping, and geochemistry.

The Company has compiled a technical presentation summarizing the Zlatusha exploration project, which can be downloaded here. This document provides an in-depth view of the exploration progress of the Project, as well as details on methodologies and future plans, offering a clear overview for investors and stakeholders.

The Zlatusha Property is located within a Tier One porphyry copper-gold and epithermal belt, which transects Serbia and Bulgaria. The local geology is similar to the Timok Magmatic complex, which is located 95 km to the northwest of Serbia (hosting the world-class Bor, Majdanpek and Cukaru Peki copper-gold deposits). The Panagyurishte Orefield, located 65 km to the east in Bulgaria hosts operating copper-gold mines such as Chelopech, Elatsite and Asarel.Approximately 5km southwest of Zlatusha, the Milin Kamuk gold mine is under construction. No modern systematic exploration has been carried out and the Company considers the Property to be prospective for the discovery of these deposit types. In particular, the recent discovery of the high-grade Coka Rakita gold skarn deposit by Dundee Precious Metals has renewed interest in deposits of this type within the Tethyan Belt that have been historically overlooked.

2024 Outlook

Building on 2023’s successful exploration program, Velocity will initiate a 3,000m diamond core drilling program in Q2. Drill target definition and prioritization is ongoing and an update will be provided to shareholders before the commencement of the drill program.

Quality Assurance / Quality Control

The work program at Zlatusha Property was designed and supervised by Vasil Dimitrov, CGeol FGS, the Company’s Senior Geologist, who is responsible for all aspects of the work, including the quality control/quality assurance program.

On-site personnel at the project rigorously collect and track samples which are then security sealed and shipped to ALS Global laboratory in Romania (soil and rock samples) for sample preparation and subsequent analysis. Soil samples are prepared in compliance with industry standards at ALS’ Romanian laboratory then a sample split of the milled material (pulp) is shipped to ALS’ Irish laboratory for the Trace Detection Limit method for a gold plus multi-element package by aqua regia digestion for acid extractable gold – 25g. Field duplicate samples, blanks and independent controlled reference material (standards) are added to every batch.

Portable XRF (Olympus Vanta M) and Magnetic Susceptibility (KT-9 kappameter) analysis are applied to soil and rock sample references. A portable XRF analyzer is used to evaluate the concentration of certain elements in rocks and soils providing rapid information to field geologists without waiting for laboratory results. The portable XRF readings provide an effective screening tool for selecting samples for traditional laboratory chemical analysis. The assays of the pXRF analysis are indicative, but accuracy is not equivalent to laboratory analysis. Soil samples are sieved in the field with 40mesh (-1mm) stainless steel sieve, and collected in kraft paper bags for drying in the storage area. After sample splitting, material is taken from each sample for portable XRF analysis and stored in small transparent zip-lock bags with sample ID tags. Samples are scanned on both sides and the XRF measurements are averaged by the portable XRF. Representative rock sample specimens are selected from the field geologist then scanned with portable XRF in the company’s warehouse. Blanks and independently controlled reference material (standards) are scanned with portable XRF and the results are compared with laboratory analysis. Additional portable XRF QA/QC measurements are taken from “Coin” and “Blank” material (provided by Olympus) for tool calibration before and after scanning of each batch of samples.

Geophysical surveys are carried out by geophysical consultants using up-to-date technologies, with the results checked by a third-party independent geophysicist for quality control. Raw geophysical data is processed and corrected, and the results are interpreted by 2 independent groups of geophysicists under the direction of Company staff.

Qualified Person

The technical content of this release has been approved for disclosure by Daniel Marinov, RPGeo, a Qualified Person as defined by NI 43-101 and the Company’s Vice President of Operations. Mr. Marinov is not independent of the Company as he is a director, officer, and shareholder, and holds incentive stock options.

About Velocity Minerals Ltd.

Velocity is a precious metals and copper explorer focused on Eastern Europe. In Bulgaria, Velocity has a 70% interest in the Tintyava property, which includes the feasibility-stage Rozino deposit. Velocity also has a 70% interest in the Momchil property (which includes the Obichnik project), a 70% interest in the Nadezhda property (which includes the Makedontsi project), and a 70% interest in the Dangovo property (which is contiguous with the Makedontsi project). The Company holds a 100% interest in the Iglika copper-gold exploration property and recently entered into an option agreement with DPM who have an option to earn a 75% interest in the property. The Company has also entered into agreements to acquire a 75% interest in the Zlatusha copper-gold exploration property.

February 12, 2024
Запуск Диалога «С5+1» по критическим минералам
8 февраля Государственный департамент США провел первую встречу в рамках Диалога C5+1 по вопросам критически важных минералов (CMD). Эта инициатива была предложена президентом США Джо Байденом и президентами Казахстана, Кыргызской Республики, Таджикистана, Туркменистана и Узбекистана на саммите C5+1, состоявшемся 19 сентября 2023 года в Нью-Йорке.

Целью площадки является развитие и продвижение важнейших цепочек поставок минерального сырья, которые будут способствовать устойчивому переходу к чистой энергетике и борьбе с климатическими изменениями.

Встреча, проходившая под председательством заместителя госсекретаря по вопросам экономического роста, энергетики и окружающей среды Хосе У.Фернандеса, собрала высокопоставленных представителей всех пяти стран Центральной Азии.

В рамках Диалога «С5+1» по критическим минералам отмечены перспективы сотрудничества в рамках инициатив «Партнерства в области безопасности полезных ископаемых» и «Партнерства в интересах глобальной инфраструктуры и инвестиций». В свою очередь, представители стран Центральной Азии выразили заинтересованность в изучении возможностей для привлечения американских инвестиций в данную сферу.

В духе сотрудничества каждая страна-участница отметила взаимные выгоды от совместной работы над достижением общих целей в области критически важных минералов. Эти цели включают диверсификацию рынков и разработку технологий таким образом, чтобы это приносило пользу всем гражданам.

Дополнительные сведения:
- C5+1 Critical Minerals Dialogue: https://www.state.gov/inaugural-c51-critical-minerals-dialogue-among-the-united-states-and-kazakhstan-the-kyrgyz-republic-tajikistan-turkmenistan-and-uzbekistan/ (Государственный департамент США)
- Readout of President Biden’s Meeting with the C5+1 Leaders at UNGA: https://www.whitehouse.gov/briefing-room/statements-releases/2023/09/19/readout-of-president-bidens-meeting-with-the-c51-leaders-at-unga/ (Белый дом)
Для информации:

В марте в рамках рабочей поездки министр промышленности и строительства РК Шарлапаев Канат Бисимбаевич посетит PDAC в Торонто, где пройдут встречи в сфере развития критических минералов.
February 12, 2024
C5+1 Dialogue on Critical Minerals with Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan

Following the largest mining conference in Africa, Mining Indaba, where Under Secretary for Economic Growth, Energy, and the Environment Jose W. Fernandez advanced cooperation on securing and strengthening critical mineral supply chains, he chaired the C5+1 discussion on goals and objectives of the CMD, which will seek to increase the region’s involvement in global critical minerals supply chains, strengthen economic cooperation, and advance the clean energy transition, while also protecting Central Asia’s unique ecosystems.

Assistant Secretary of State for Energy Resources Geoffrey Pyatt moderated the event, accompanied by Deputy Assistant Secretary of State for Central Asian Affairs John Mark Pommersheim and colleagues from across the U.S. government who work on critical minerals. Senior officials from each of the Central Asian governments shared their interest in developing investment opportunities in critical minerals that meet the highest environmental, and social standards, and governance.

In the spirit of C5+1 collaboration, each country underscored the benefit of working together to advance our shared critical minerals objectives including diversification of markets and development of technologies in a manner that will benefit all our citizens. Among the initiatives discussed, the United States emphasized opportunities through the Minerals Security Partnership and Partnership for Global Infrastructure and Investment. In the lead-up to the mining and exploration convention in Toronto, Canada, called Prospectors & Developers Association of Canada (PDAC), the United States welcomed input from the C5 countries to promote new partnerships and investment opportunities and efforts to continue the dialogue through national coordinators within the C5+1 framework.

Learn more about C5+1 collaboration at: https://www.whitehouse.gov/briefing-room/statements-releases/2023/09/21/c51-leaders-joint-statement/ .

Learn more about the Minerals Security Partnership at: https://www.state.gov/minerals-securit-partnership/.

To stay up to date, follow Under Secretary Fernandez on X: @State_E, LinkedIn: @State-E, and Facebook: @StateDeptE.

For press inquiries, please contact E_Communications@state.gov.

In March, as part of a working trip, Kanat Sharlapayev, the Minister of Industry and Infrastructure Development of the Republic of Kazakhstan will visit the PDAC (Prospectors & Developers Association of Canada) in Toronto, where meetings focused on the development of critical minerals will take place.

February 12, 2024
Новое правительство РК поручило развивать производства высокого передела

Крупные казахстанские промышленные предприятия должны будут составить дорожные карты по организации новых производств высокого передела. Такое поручение новый премьер РК Олжас Бектенов дал во время расширенного заседания правительства.

Как сообщает пресс-служба кабмина, в ближайшее время первый заместитель премьер-министра Роман Скляр проведёт переговоры с руководителями значимых производств республики. В первую очередь вопросом изготовления продукции высокого передела озадачат добывающие компании.

Поручение соответствует посланию главы государства «Экономический курс Справедливого Казахстана». Осенью прошлого года президент говорил, что в стране стóит создать отдельные промышленные кластеры. В приоритет Касым-Жомарт Токаев предложил поставить глубокую переработку металлов, угле-, нефте- и газохимию, конверсию и обогащение урана, тяжёлое машиностроение и др.

Ещё одно поручение премьер-министра касается использования собственного сырья в обрабатывающей промышленности. По словам г-на Бектенова, промышленным гигантам нужно в несколько раз нарастить приобретение отечественных товаров, услуг и работ.

В 2024 году в обрабатывающей промышленности РК намерены реализовать в общей сложности 180 инвестпроектов стоимостью 1,5 трлн тенге.

February 12, 2024
The new government of the Republic of Kazakhstan sets tasks for the development of high value-added production

Large Kazakh industrial enterprises will need to develop roadmaps for establishing new high-value production facilities. The new Prime Minister of the Republic of Kazakhstan, Olzhas Bektenov, issued this instruction during an extended government meeting.

According to the press service of the Cabinet of Ministers, in the near future, First Deputy Prime Minister Roman Sklyar will conduct negotiations with the heads of significant production facilities in the republic. Primarily, mining companies will be confronted with the challenge of producing high-value-added products.

This directive aligns with the message of the head of state, “Economic Course of a Fair Kazakhstan.” Last fall, the president emphasized that the country should establish distinct industrial clusters. Kassym-Jomart Tokayev proposed giving priority to the deep processing of metals, coal, oil and gas chemistry, uranium conversion and enrichment, heavy engineering, and so on.

Another directive from the Prime Minister concerns the utilization of domestic raw materials in the manufacturing industry. According to Mr Bektenov, industrial giants must significantly increase the procurement of domestic goods, services, and works.

In 2024, the manufacturing industry of the Republic of Kazakhstan intends to implement a total of 180 investment projects worth 1.5 trillion tenge.

February 12, 2024
Polymetal принимает участие в оловянном проекте Сырымбет

Компания Polymetal исследует запасы месторождения олова Сырымбет совместно с предприятием Tin One Mining, которое владеет лицензией на недропользование в отношении этого участка. О том, что добывающие компании укрепляют сотрудничество, сообщило издание inbusiness.kz.

Специалистам Tin One Mining и Polymetal нужно подобрать варианты, как оптимизировать существующую технологическую схему переработки оловянных руд месторождения.

Как следует из ответа представителей золотодобывающего предприятия на запрос СМИ, стороны сотрудничают в этом направлении уже не один год. Не исключено, что в дальнейшем Polymetal войдёт в долю по проекту.

Кстати, именно вопрос изучения свойств руды, нехватка подходящих компетенций и решений в своё время затормозили освоение Сырымбета. Предложения по разработке участка впервые поступили в конце 1990-х годов, а добычу олова начали только в 2021-м.

Горно-металлургический комбинат на крупнейшем казахстанском месторождении олова планировали запустить к 2025 году. По оценкам руководства Tin One Mining, запасов Сырымбета хватает на 15 лет работы производства.

К слову, в течение недавней конференц-связи с инвесторами глава Polymetal Виталий Несис заявил, что в перспективе компания может заинтересоваться казахстанскими месторождениями меди, олова, свинца и цинка.

February 12, 2024
Polymetal takes part in the Syrymbet tin project

Polymetal is exploring the reserves of the Syrymbet tin deposit together with Tin One Mining, which holds the subsoil license for this site. The publication on inbusiness.kz reported that mining companies are strengthening cooperation.

Tin One Mining and Polymetal specialists need to select options on how to optimize the existing technological scheme for processing the deposit’s tin ores. According to representatives of the gold mining company in response to a media request, the parties have been cooperating in this direction for more than one year.

Polymetal may potentially acquire a share in the project in the future. Incidentally, it was precisely the issue of studying the properties of ore, the lack of suitable competencies and solutions, that at one time slowed down the development of Syrymbet.

Proposals to develop the site first came in the late 1990s, and tin mining began only in 2021. The mining and metallurgical plant at Kazakhstan’s largest tin deposit was planned to be launched by 2025, according to Tin One Mining’s management.

During a recent conference call with investors, held, the head of Polymetal, Vitaly Nesis, said that in the future the company may be interested in Kazakh deposits of copper, tin, lead, and zinc.

February 12, 2024
Железорудное месторождение Ломоносовское запустят в 2025 году

ТОО «Ломоносовское», которое владеет лицензией на одноимённое железорудное месторождение в Костанайской области, запустит его в промышленную эксплуатацию в 2025 году. План горных работ компании опубликован на Едином экологическом портале Казахстана. Общественные слушания по проекту состоятся в начале марта 2024 года.

Участок недр относится к крупному горнодобывающему району республики. В 10–20 км к юго-востоку от Ломоносовского находятся Сарбайское и Соколовское месторождения, Соколовский подземный рудник, а в 30 км севернее расположен Качарский карьер.

Компания собирается вести добычу на Ломоносовском открытым способом в течение 22 лет. В первые пять лет функционирования карьера работы будут проводить только на центральном участке. Из-за того что ископаемое залегает на значительной глубине, в 2025–2026 годах недропользователь займётся лишь вскрышными работами без попутной добычи.

На четвёртый год эксплуатации месторождения предприятие выйдет на ежегодный объём извлечения руды в 7 млн т. После того как в отработку введут и северо-западный участок карьера, проектная мощность вырастет до 16 млн т железной руды в год. Добычу планируют поддерживать на таком уровне с восьмого по 21-й год эксплуатации Ломоносовского.

В проектной документации ТОО «Ломоносовское» не отмечено число запасов месторождения. По всей вероятности, перерабатывать сырьё будут на собственном ГОКе компании.

February 12, 2024