Environmental trends create potential demand for copper, which is one of the main components of all these innovations. Today, the “new economy” already consumes 1.6 million tons of this metal. Against the backdrop of energy crises and the rising cost of energy resources, analysts argue that the demand, and consequently the prices for copper, will only continue to rise. They forecast that by 2030 the world will need 40% more copper than is mined today. All this adds up to an excellent opportunity for copper mining companies. Global leaders in this industry are actively modernizing their production, introducing advanced technologies that allow working with poor ores and copper slag to meet this growing demand with supply. The domestic copper producer, the Almalyk Mining and Metallurgical Combine, also has grand plans. Today, four investment projects are successfully being implemented here. One of the key projects is the development of the “Yoshlik” deposit worth almost $5 billion. The project involves the implementation of a whole complex of measures that will enable the enterprise to produce 400,000 tons of cathode copper per year by 2030 and become one of the world’s leading producers of this metal. This will not only secure the company’s future but also provide a powerful impetus for the development of the domestic economy: new production facilities will provide jobs for tens of thousands of people, increase tax revenues to the budget, while the combine already ranks as the second-largest taxpayer in the republic. As part of the investment project, the construction of three new copper beneficiation plants, a copper smelting complex, modernization of existing facilities, and the consolidation of two deposits of the combine – “Kalmakyr” and “Yoshlik” are planned. This project is considered one of the top 10 largest global projects in the metallurgy sector. Intensive open-pit mining operations are currently underway at the “Yoshlik” deposit. To reach the ore layer and prepare the quarry for further mining, around 180 million cubic meters of rock mass have been removed from here. To carry out massive mining works, new mining equipment has been acquired, and some transportation has also been outsourced. “We recently received two new locally assembled dump trucks with a payload of over 220 tons. In total, under the contract with a domestic company, the delivery of five such machines is expected, the rest will be delivered by March. We will use them for open-pit mining operations, and then for ore mining,” said Kamoliddinjon Marahimov, deputy chief engineer for mining operations. In addition, the combine is introducing a new cyclic-flow technology (CFT) for transportation. Several crushing-conveyor complexes will be built on the quarry site. In particular, two will be involved in transporting empty rock to the dumps, and two more – in shipping ore to the concentrator plants No. 3 and 4. It is worth reminding that in November of last year, the combine already launched one of the crushing and loading nodes for the third factory in test mode. Crushing units and 4-kilometer conveyors from Denmark, which have repeatedly proven their reliability and efficiency at numerous enterprises around the world, are installed here. These technologies will be used for primary crushing and transporting ore via conveyors instead of railway transport to ore warehouses. Overall, this solution will triple transportation costs and operational expenses. The third in line The investment project involves the construction of three copper beneficiation plants (CBP). Since 2021, active work has been underway to erect CBP-3. Today, this truly grandiose facility is at the stage of final construction and installation works. It is worth noting that Wood (Italy) and UZLITI Engineering (Uzbekistan) were involved in the design of CBP-3, Technip Energies (France) conducted the technical evaluation and acceptance of the basic project documentation, and Worley (UK) is supervising the construction. To ensure the timely launch of the factory, today, on the construction site of CBP-3 with a total area of 196 thousand square meters, more than 1000 pieces of equipment are involved, and a 15-thousand-strong international team of the general contractor Enter Engineering is working daily. The new facility will be equipped with the most modern equipment from leading manufacturers of mining and beneficiation equipment, such as AUMUND (Germany), Thyssenkrupp (Germany), Weir Minerals (UK), Sepro Minerals-Falcon (Canada), Metso (Finland), and others. In particular, for the first time at AGMK, the HPGR (High-Pressure Grinding Rolls) technology of semi-autogenous mills will be applied. This will reduce operating costs by 30% and achieve the minimum payback period for the introduced technology. Most of the large-sized equipment has already been installed and is ready for commissioning. The remaining part is at the stage of completing installation works. The activity of the factory will be fully automated, which will reduce the impact of the human factor on production processes, increase the quality of the products, and reduce emergency situations. The automation of the technological process will be based on modern software and hardware used in the practice of global manufacturers like ABB (Switzerland) and Siemens (Germany). The technological process at CBP-3 will be controlled from a centralized dispatch center, the construction of which is currently being completed. 1200 automation cabinets will be installed in the factory’s units. According to Alexander Kuznetsov, the head of the production facilities of the CBP-3 project, the first production lines of the factory will start operating soon. “We are making every effort to commission the facility on time. The commissioning of the facility will be carried out step by step. By the end of the year, we plan to obtain the first commercial concentrate. When reaching the full design capacity, the factory will process 60 million tons of ore annually,” he noted. It is worth noting that today the combine processes more than 40 million tons of ore annually. Thus, the capacities of the enterprise will soon increase to 100 million tons of processed rock. And this is just in a few years – it took decades to achieve the current level! And there are still the fourth and fifth copper beneficiation plants in the pipeline. Also, with the commissioning of the new facility, about 3.5 thousand new jobs will be created. Thus, this huge modern factory will become a strategically important object, having great significance for the socio-economic development of our country, for our youth, and for future generations. Copper Smelting Complex With the acquisition of additional volumes of concentrated ores, the capacities of the current copper smelting plant, which currently produces 148 thousand tons of cathode copper annually, will be insufficient. “At the first stage, we face the task of producing 300 thousand tons of copper per year. To accomplish this, a decision has been made to expand the capacities of the copper smelting plant to a metallurgical complex. Studying the experience of other countries, we decided to purchase flash smelting and flash converting furnaces for it, as well as modern sulfuric acid plant technologies from the leading company Metso. The contract will be signed shortly,” shared the chief engineer of the smelting plant, Zhasur Ergashev. This is practically fully automated equipment and the most optimal solution, both financially and environmentally. For example, the new furnace will be able to process several times more concentrate than other similar analogs allow. This provides greater production efficiency, reduces processing time, and consequently, the payback period of the equipment. And the closed gas discharge system from the copper production will reduce emissions and establish production with a capacity of 1.8 million tons of sulfuric acid per year. A slag beneficiation plant will also be built at the copper smelting complex, which will process by-products at a capacity of over 1.5 million tons per year. The project includes the construction of a department for slow cooling of slags, which will allow for maximum waste-free production. “Previously, the slags were taken to dumps, where they cooled naturally. Now, after undergoing the slow cooling process, they will be sent to the slag beneficiation plant for further processing. This way, we can increase copper recovery from 93% to 98%. Thus, less valuable material will go to waste. This is a fairly good indicator,” explained the director of the future complex department, Alisher Shanasirov. Currently, the basic engineering of the project is being completed, preliminary site preparation for construction is underway, and infrastructure relocation is ongoing. It is expected that specific actions will begin by the end of this year. It should be noted that to transport the finished concentrate, cyclic-flow technology will also be used. A tubular conveyor, 4.7 kilometers long, will be stretched from CBP-3 to the copper smelting complex. Its construction is scheduled to start in the summer and be completed by the beginning of 2027. Technical services and infrastructure In addition, work is actively underway on the construction and development of infrastructure. For example, at the CBP-3 base, technical water supply complexes are being built for the factory’s own needs, with a capacity of 23.5 thousand cubic meters per hour. The growing production will also require more electricity. Therefore, to meet the needs of the new facilities in electricity, AGMK has built a new technological substation with a capacity of 650 megawatts and is completing the construction of two transformer substations. They will provide electricity to the “Yoshlik” deposit, CBP-3, and the cyclic-flow technology. It is worth noting that this will be the first substation in the CIS with full digital control. The construction of an explosive materials plant is nearing completion. It will produce 90 thousand tons of explosives per year. Also, a new laboratory will be built for the needs of the quarry, which will be engaged in sample analysis. The expanding production complex will require more technical service capabilities. Therefore, expanding and modernizing the Central Repair and Mechanical Plant (CRMP) is one of the key tasks within this investment project. The CRMP is being supplemented with new equipment, production of new products is being established to ensure that there are no problems with servicing and supplying spare parts for new units at new facilities. In parallel, construction of assembly areas is underway, where maintenance and technical servicing of large-scale automotive equipment will take place. Thus, if today AGMK produces 148 thousand tons of copper, by 2025 the above measures will allow the production of 300 thousand tons of metal annually. By increasing production, by 2030 the enterprise plans to extract 400 thousand tons of copper from the deposit. In addition, the combine is not only focused on increasing the volume of copper production but also actively works to increase the volume of production of high value-added products and export not just raw materials but finished products. This will increase the company’s revenue to 8 billion dollars. International recognition In implementing such a large investment project, AGMK, in particular, relies on the experience of leading international companies. The project is financed from the funds of the combine itself, as well as loans from domestic and foreign banks. German and French financial institutions show great interest in it. “If before we independently sought financing for our projects, now banks, both local and foreign, are themselves at our doors, offering more convenient lending terms,” noted the director of the project office for the implementation of the “Yoshlik” investment project, Zokirkhuja Ishankhojaev. This interest can be explained by the fact that the combine has great development prospects. The large British company SRK Consulting confirmed the presence of 45 million tons of copper reserves and more than 5 thousand tons of gold at the “Yoshlik” deposit. According to the director of the consulting company, Mike Beer, today no state in the world can boast of such reserves. “Data on the reserves of the Almalyk deposit were published according to the JORC code, which is recognized at the international level. This is truly the future of our enterprise,” concluded the AGMK representative.
Month: February 2024
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Казахстан и Испания вместе будут вести разведку подземных вод
Министр водных ресурсов и ирригации Нуржан Нуржигитов встретился с послом Испании в Казахстане Хорхе Урбиолой Лопесом де Монтенегро. Стороны обсудили сотрудничество в области разведки подземных вод.
Вместе с послом во встрече приняли участие представители испанской компании Xcalibur Smart Mapping, занимающейся составлением детальных карт полезных ископаемых и других ресурсов, включая воду. Полученные таким образом данные могут быть использованы для разведки месторождений подземных вод, а также могут оптимизировать расходы на их поиски.
По словам испанских бизнесменов, их технологии широко используются в Австралии, Канаде, США и Европе. Также гости выразили готовность помочь в привлечении грантов и финансирования для совместных проектов.
«Мы нацелены планомерно увеличивать долю использования восстанавливаемых подземных вод в экономике и питьевом водоснабжении, поэтому опыт Испании в разведке водных ресурсов может быть очень полезен. В этом году стратегическому партнерству наших стран исполняется 15 лет. Вода – стратегический ресурс, поэтому мы обязательно рассмотрим все возможные направления двустороннего сотрудничества», – отметил министр водных ресурсов и ирригации РК Нуржан Нуржигитов.
Ранее сообщалось, что Казахстан и Узбекистан укрепляют сотрудничество в водной сфере и промышленной кооперации. Это в том числе касается совместного управления и использования трансграничных водных объектов.
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Kazakhstan and Spain will jointly explore groundwater
Minister of Water Resources and Irrigation Nurzhan Nurzhigitov met with the Ambassador of Spain to Kazakhstan Jorge Urbiola Lopez de Montenegro. The parties discussed cooperation in the field of groundwater exploration.
Along with the ambassador, representatives of the Spanish company Xcalibur Smart Mapping, which compiles detailed maps of minerals and other resources, including water, took part in the meeting. The data obtained in this way can be used for exploration of groundwater deposits, and can also optimize the costs of searching for them.
According to Spanish businessmen, their technologies are widely used in Australia, Canada, the USA and Europe. The guests also expressed their readiness to help attract grants and funding for joint projects.
“We aim to systematically increase the share of the use of renewable groundwater in the economy and drinking water supply, so Spain’s experience in the exploration of water resources can be very useful. This year the strategic partnership between our countries turns 15. Water is a strategic resource, so we will definitely consider all possible areas of bilateral cooperation,” noted the Minister of Water Resources and Irrigation of the Republic of Kazakhstan Nurzhan Nurzhigitov.
It was previously reported that Kazakhstan and Uzbekistan are strengthening cooperation in the water sector and industrial cooperation. This also applies to the joint management and use of transboundary water bodies.
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445% Increase in Mineral Resource Estimate
Zinnwald Lithium plc is thrilled to announce a significant upgrade to its Mineral Resource Estimate (MRE) at the 100% owned Zinnwald Lithium Project in Saxony, Germany.
Key Highlights:
- 445% increase in tonnage and 243% increase in contained lithium in Measured and Indicated categories compared to 2018 MRE.
- Second largest hard rock lithium resource in the EU by both size and contained lithium.
- Inclusion of broader mineralized granite zone boosts potential production rates and project economics.
CEO Quote:
“This substantial increase in our Mineral Resource establishes Zinnwald as a strategically important project of scale within the EU,” said Anton du Plessis, CEO of Zinnwald Lithium. “The wider mineralized zone allows for more efficient mining techniques, potentially further increasing lithium production beyond our 2022 PEA projections.”
Additional Notes:
The updated MRE incorporates 26,911 meters of new drilling across 84 holes and a revised geological model.
The statement was prepared by Snowden Optiro Ltd in accordance with NI 43-101 standards.About Zinnwald Lithium plc
Zinnwald Lithium plc is a European-focused lithium company developing the Zinnwald Lithium Project, with the goal of becoming a leading domestic supplier of lithium hydroxide to the European battery industry.
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Untapped Potential: The Ore-Rich Yet Underdeveloped Municipality in BiH Holds the Key to European Advancement
The extremely underdeveloped Lopare municipality lies on extremely rich ore deposits that could be crucial for the development of Europe. This was shown by a geological survey which determined that there are large amounts of lithium on Majevica. While the locals fear major environmental pollution, the company that did the research announced exploitation and environmental associations received warnings from diplomatic representatives.
“Research is good, but it’s about the pollution. It’s not something you pile into a truck and drive if that were the case, there wouldn’t be a problem,” observes Nedjo Milovanovic, a resident of Lopare.
Controversy arose after the company “Ar Core” announced, upon completion of research that lasted for more than four years, that significant quantities of various ores, including lithium, were found under Majevica, which particularly worries the locals.
The raw material of the future. Many say exactly that about lithium, an ore that is essential for the modern auto industry, batteries, electric cars, and mobile phones. It is also very important for modern pharmacy and medicine. However, its exploitation is harmful to the environment.
And the local population especially knows something about this, because ecologists are increasingly vocal in their warnings that lithium mining is disastrous for the ecosystem.
“But it’s poison and this is how people die. When you look at it, few people will be in favor,” emphasized local resident Cvija Milovanovic.
The domestic public was most aware of the potential danger of lithium exploitation during mass protests in Serbia due to the intention of the international company “Rio Tinto” to exploit a deposit in Jadar near Loznica. Only about 60 kilometers from that location is the site in Lopare, where the announcement of the opening of the mine caused alarm among the locals, so the mayor gave up on the original idea that the future of the project should be considered in a referendum.
Despite the attitude of the local authorities, the company that did the research continued preparations for the start of exploitation, which will last from three to five years. The results of the research of the company, whose headquarters are in Laktasi and which does not even have a website, were made known to the public through a press release in which the development potential of exploitation was particularly emphasized. It is a subsidiary company “Ar Core AG” of a company from Switzerland, on whose website it is possible to find only a small detail about, as they say, their basic project “the largest lithium and boron mine in Europe with enormous potential and the possibility of mining that would last 65 years.
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Savannah Resources Initiates Contentious Lithium Mining Venture in Portugal
Savannah Resources, a London-based company, has embarked on a lithium mining project in Boticas, Portugal, which has garnered significant attention due to potentially becoming Western Europe’s largest lithium mine. This initiative is part of a broader push to capitalise on Portugal’s lithium reserves, which are over 60 000 tonnes, positioning the country as a key player in Europe’s strategy to secure a more self-sufficient battery value chain and reduce dependency on imported raw materials.
This initiatives was approved by the Portuguese Environmental Agency last year, conditional on some premises, for this initiative to take place. However, the project has encountered substantial legal and environmental challenges. Portuguese prosecutors have raised concerns about the environmental permit granted to the project, citing potential violations and the risks it poses to the local environment, including the Barroso region — a world heritage site recognised for its agricultural significance since 2018.
The primary issues highlighted include the project’s potential impact on this heritage site, inadequate assessments of mining waste management, and water contamination risks. This is significant as poor environmental strategies in the context of mining projects, such as those involving lithium extraction, can have significant health repercussions, as well as, fundamentally eroding local human rights. This relationship stems from the fact that environmental degradation often directly impacts the fundamental needs and rights of local communities. For example, water contamination and air pollution can impinge on the right to clean water, and healthy living conditions.
In regions where mining projects for things like precious metals are situated, the environmental consequences can seriously disrupt local ecosystems, leading to loss of biodiversity, soil erosion, alteration of water courses and the water table. Environmental impacts can, in turn, affect agricultural productivity and access to natural resources that local populations depend on for their livelihoods, thereby, infringing upon their right to food security and economic stability.
The Prosecutor’s Office has requested that the Administrative Court of Mirandela, in Northern Portugal, to annul the approval of the Boticas mine on the basis that it “suffers from the defect of violating the law”. Additionally, the cumulative environmental impact of Savannah’s project and another nearby lithium initiative by Lusorecursos in Montalegre has not been fully considered, raising concerns about the broader implications for the region’s ecosystem. In response, Savannah Resources has expressed it’s readiness to address these concerns and stated that the legal actions do not hinder the project’s operations.
The legal challenges faced by Savannah Resources, couple with the ongoing investigation into alleged illegalities in lithium and ‘green hydrogen’ deals in Portugal, which led to the then-Prime Minister Antonio Costa’s resignation, highlighting the delicate and volatile state of environmental policy. The case surely serves as a serious reminder of the importance of adhering to legal and environmental standards to ensure sustainable development and trust in the workings of political institutions.
With that being said, navigating the complexities of lithium mining projects such as the one undertaken by Savannah Resources necessitates a multi-faceted approach to the policy making to ensure sustainable development. There are a number of cogent options available to the Portuguese state, notably, Chile’s approach to managing it’s lithium reserves and the associated environmental and regulatory challenges could offer relevant insights for Portugal.
Chile has significant lithium reserves, the largest in the world, and has positioned itself as a key player in the global lithium market. Chile has established a legal and regulatory framework that treats lithium as a strategic mineral, limiting its extraction to state, state-owned companies, or private firms in partnership with the Chilean Production Development Corporation. This framework aims to ensure that lithium mining benefits the country, while mitigating environmental impacts. Chile’s experience highlights the importance of a clear regulatory framework that balances economic interests with environmental protection and social responsibility. Given Portugal’s significant lithium reserves, and the environmental concerns surrounding the Savannah Resources project, adopting a strategic approach similar to Chile’s could help Portugal navigate the complexities of mining. In this sense, implementing a framework, perhaps similar to Chile’s, would hold companies accountable for their environmental compliance and provide clear, actionable guidelines for conducting mining operations sustainably.
The National Lithium Strategy, announced in April 2023, is the clear frameworks to “exploit lithium in Chile’s salt flats”. Perhaps with the longer-term goal of creating the “National Lithium Company”, which should lead to negotiations with private companies wishing to explore and exploit the salt flats. With the largest share of lithium deposits in the world, the Chilean state is looking to create a balance between private and public sectors.
Furthermore, there is a critical need to enhance the rigor and comprehensiveness of Environmental Impact Assessments. By mandating the EIAs to consider the cumulative impacts of nearby projects, policymakers can gain a more holistic understanding of potential environmental consequences, thereby facilitating the implementation of effective mitigation strategies.
Equally important is the engagement of local communities and stakeholders in the decision-making processes. Such involvement ensures that the concerns and insights of those most directly impacted by mining activities are heard, leading to mining practices that are not only more socially accepted but also sustainable. Developing clear forums for local discussion, perhaps through state initiatives, are the most cogent manner in which to develop clear community guidance.
Accordingly, the protection of heritage sites also demands attention, with the development of specific guidelines and regulations aimed at ensuring mining activities do not encroach upon or degrade cultural and environmental values. This is particularly pertinent in areas like the Barroso region, which holds significant agricultural and cultural importance.
Additionally, adopting a sustainable mining practice is another cornerstone of our policy recommendations. Urging the use of advanced technologies in waste management, investing heavily in protective measures, as well as, ensuring that companies are prepared to financially compensate locals for any issues that may arise are vital. Water protection is another serious issue. Minimising the environmental impact through continuous and public testing of the water table is vital. Precious metal mining, particularly lithium and copper mines, can be disastrous for local water supply if not persistently analysed. impACT implores the Portuguese state to consider establishing a public dataset for analysis of the regions ecological analysis.
Fostering cross-sector collaboration stands out as a vital strategy. By encouraging partnerships between the mining sector, environmental agencies, and research institutions, innovative solutions can be developed for waste reduction, the recycling of mining by-products, and the implementation of conservation strategies. Adoption of a similar public-private model, like Chile’s, may prove a good method of this collaboration.
Through the implementation of these policy recommendations, countries like Portugal, endowed with significant lithium reserves, can leverage their natural resources to fuel economic growth and achieve strategic autonomy in the battery value chain. This approach ensure not only the safeguarding of environmental heritage but also the well-being of local communities, thereby aligning economic interests with sustainable and responsible environmental stewardship.
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Anticipated 60% Surge in Raw Material Extraction by 2060 Sparks Concerns, Green Mining Measures Not Enough to Mitigate Environmental Impact
The United Nations’ flagship Global Resources Outlook report is the portrait of a juggernaut. Due to be published later this month by the UN’s International Resource Panel, it highlights how global consumption of raw materials, having increased four-fold since 1970, is set to rise by a further 60% by 2060.
Already, the technosphere — the totality of human-made products, from airports to Zimmer frames — is heavier than the biosphere. From the 2020s onward, the weight of humanity’s extended body — the concrete shells that keep us sheltered, the metal wings that fly us around — have exceeded that of all life on Earth. Producing this volume of stuff is a major contributor to global heating and ocean acidification, and the rapidly accelerating extinction of plants and animals.
As the UN report spells out, the extractive activities that lie behind the concrete, metal and other materials we use are disrupting the balance of the planet’s ecosystems. The mining industry requires the annexation of large tracts of land for extraction and transportation; its energy consumption has more than tripled since the 1970s.
That upward curve is set to continue. The demand for materials is rising, the quality of ores such as copper is declining, and deeper and more remote mines require extra energy for extraction. More seams will be dug and more mountains moved to bring glittering fortunes to some while many regions, above all in developing countries, become sacrifice zones.
Critical raw materials
Attention is increasingly focused on a particular class of material. “Critical” and “strategic” raw materials are those that face supply risk either in their scarcity or their geographical concentration, and which the major powers require for their military sectors and for competitive advantage in tech industries. Right now, the race for critical materials is geopolitical: each major power wants to secure supplies in allied countries.
Critical raw materials are indispensable to the green transition too. The EU, for example, deems nickel a strategic material in view of its role in batteries.
A wind turbine can require nine times the mineral inputs of a typical gas-fired power plant, while the average electric vehicle contains between six and ten times those of its conventional counterpart, according to the UN report that is due to be published on February 26.
None of this means that a green economy would use greater quantities of materials than the current fossil fuel-based one. Energy consumption due to mineral demand for energy transition technologies is dwarfed by that which arises from mineral demand for the rest of the economy.
Nonetheless, the mineral demand of the energy transition stokes the mining boom in such sectors as copper and lithium.
Urban mining
Mining must change in order to reduce its environmental impact. On the supply side, recovering minerals from waste goods can be ramped up, for instance by forcing retailers to offer collections of household electronic waste that can be sent for enhanced recycling.
There is scope for urban mining: for example, locating copper from inactive underground power cables or recovering elements from construction waste, sewage, incinerator ash and other garbage zones.
In practice, however, the use of secondary materials relative to newly-extracted ones is declining. The recovery rates of minerals from recycling remain low. Another UN study of 60 metals found the recycling rate for most of them was below one percent.
The current economic system makes extractive mining cheaper and easier than urban mining. Extractive mining involves the purchase of cheap land, often in developing countries.
That land gets dug up, pulverised and processed in a simple flow that is amenable to capital-intensive operations. Urban mining by contrast is often labour-intensive and requires a complex and state-enforced regulation of waste streams.
Urban mining suffers from the refusal of governments to shift taxation from labour to “the use of non-renewable resources”, as Walter Stahel, an originator of the circular economy concept, recommended in 2006. Until robust regulation and taxation is introduced, all forms of circular economy risk unleashing rebound effects.
So, throwing more materials onto the market lowers prices, which tends to expedite economic growth, raise energy consumption, and proliferate environmental harms. In short, there is nothing intrinsically “green” about urban mining or the circular economy. The progressive potential of all such engineering programmes is governed by the political-economic framework.
Is degrowth the answer?
The insufficiency of engineering and green growth programmes has informed the waxing interest in “degrowth” strategies. This term is not intended to suggest that all economic sectors should shrink, but that for society-nature relations to regain some balance, the unsustainable global use of materials and energy must radically reduce, and in an egalitarian manner.
As the scale of the environmental crisis grows more daunting, even moderate voices — not degrowthers — have recognised that certain sectors, such as shipping and aviation, will have to be cut to virtually zero over the next 20 or 30 years.
What does this mean for critical minerals? According to degrowth advocate Jason Hickel, political means should be forged through which to plan priority sectors.
Reducing luxury and wasteful sectors such as SUVs, aviation and fast fashion would free up critical materials for the green transition. “Factories that produce SUVs could produce solar panels instead,” suggests Hickel. “Engineers who are presently developing private jets could work on innovating more efficient trains and wind turbines instead.”
Such practical examples highlight the possibility that today’s predictions of utterly unsustainable materials throughput by 2060 could at least be revised downward.
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Zinnwald Lithium Announces Major Increase in Mineral Resource Estimate
Saxony, Germany – [21 Feb 2024 07:00] – Zinnwald Lithium plc is thrilled to announce a significant upgrade to its Mineral Resource Estimate (MRE) at the 100% owned Zinnwald Lithium Project in Saxony, Germany.
Key Highlights:
445% increase in tonnage and 243% increase in contained lithium in Measured and Indicated categories compared to 2018 MRE.
Second largest hard rock lithium resource in the EU by both size and contained lithium.
The inclusion of a broader mineralized granite zone boosts potential production rates and project economics.CEO Quote:
“This substantial increase in our Mineral Resource establishes Zinnwald as a strategically important project of scale within the EU,” said Anton du Plessis, CEO of Zinnwald Lithium. “The wider mineralized zone allows for more efficient mining techniques, potentially further increasing lithium production beyond our 2022 PEA projections.”
Additional Notes:
The updated MRE incorporates 26,911 meters of new drilling across 84 holes and a revised geological model.
The statement was prepared by Snowden Optiro Ltd in accordance with NI 43-101 standards.
About Zinnwald Lithium plc
Zinnwald Lithium plc is a European-focused lithium company developing the Zinnwald Lithium Project, with the goal of becoming a leading domestic supplier of lithium hydroxide to the European battery industry. -
Инвестиционные надежды канадской B2Gold в Узбекистане рухнули после шестилетних поисков
По оценкам World Gold Council в 2023 году Узбекистан занимал 10-е место в мире по производству (золота 110.8 тонн).
В индустрии появилась информация о том, что канадская золотодобывающая компания B2Gold изменяет инвестиционную стратегию в Узбекистане. Причина этого решения пока неизвестна, но предсказуема в связи с государственной монополией в горнодобывающей отрасли.
По данным Агентства по привлечению иностранных инвестиций B2Gold впервые вошла на рынок в 2018 году, заключив соглашение о геологоразведке. Свои инвестиционные планы компания впервые огласила во время круглого стола форума МАЙНЕКС Узбекистан, проходившего в Ташкенте 17 мая 2017 года. В 2019 году B2Gold вложила в проекты в Узбекистане 2,18 миллиона долларов, а в 2020 году — более 3 миллионов долларов. В июле 2023 года агентство Reuters сообщало, что B2Gold Corp рассматривает дополнительные возможности приобретения активов золота для ускорения роста. Генеральный директор компании Клайв Джонсон сообщил, что компания рассматривает активы, которые уже работают, а не те, которые находятся в разработке. Так как проекты B2Gold в Узбекистане находятся на ранней стадии, возможно это стало главной причиной, побудившей руководство компании закрыть филиал, чтобы сконцентрироваться на консолидации производственных активов у более мелких производителей в других странах мира. Помимо Канады, где B2Gold приобрела в апреле 2023 года месторождение Sabina Gold за 1,1 млрд канадских долларов (832,1 млн долларов США), компания занимается добычей золота в Мали, Намибии и на Филиппинах.
Узбекистан поставил перед собой цель увеличения объема экономики в 2 раза до 2030 года.
В целом за последние 6 лет доля национальных предприятий в общем объеме промышленности выросла с 10 до 17 процентов, а в доходах бюджета – с 11 до 25 процентов. В стратегии развития Узбекистана до 2030 года, целью по добыче полезных ископаемых (цели 47 и 48) является разведка 60 000 км участков с коммерческим потенциалом к 2024 году. В концепции поставлена задача увеличения производства необходимой для получения высокодоходной продукции меди в 3,5 раза, золота — в 1,5 раза, серебра — в 3 раза, урана — в 3 раза. Планируется увеличение объемов переработки меди в электротехнической промышленности на 300 тысяч тонн и привлечение 1,5 миллиарда долларов инвестиций в локализацию производства всей бытовой техники. Предусматривается широкое внедрение передовых международных стандартов в оценку запасов месторождений.
6 ноября 2023 министр горной промышленности и геологии Бобир Исламов сообщил о разработке нового закона о недрах. По его словам, необходимо ускорить развитие геологоразведочных работ, на которые в Узбекистане ежегодно тратится порядка $230 млн. «Чтобы привлекать инвесторов, нужна очень хорошая правовая база — прозрачная, стабильная. Для этого совместно с консультантами Европейского банка [реконструкции и] развития, с привлечением международных консультантов Boston Consulting Group мы разработали новый закон о недрах, предусматривающий характер прямого действия, чтобы четко разграничить и показать все возможности для инвесторов, их обязательства, и, самое главное, порядок игры», — сказал он. Также Исламов подчеркнул, что при участии консультантов были снижены налоговые ставки за пользование недрами. Например, ставку по золоту и меди снизили с 10 до 7%, вольфраму — с 10 до 2,7%, урану — с 10 до 8%. «Это послужило тому, что международные компании стали заходить в сферу геологоразведки и майнинга. Сегодня успешно проводит геологоразведочные работы французская компания Orano Mining — это крупный рынок. Начинают заходить некоторые юниоры — в том числе, канадские юниоры — это компания B2Gold», — поделился министр.
Президент Шавкат Мирзиёев 15 января 2024 ознакомился с презентацией министерства и о проделанной работе в области геологии и планах на будущее. Геология имеет стратегическое значение в обеспечении ресурсами растущей экономики страны. В последние годы в эту сферу выделялось 1 триллионов сумов в год (около 80 млн долларов). В результате была проведена разведка 31 тысячи квадратных километров новых участков. В отрасли реализуются инвестиционные проекты на сумму 1 миллиард 700 миллионов долларов.
Две недели спустя 1 февраля 2024 президенту Шавкату Мирзиёеву были представлены планы по развитию металлургических предприятий. Добычу золота и других твердых полезных ископаемых контролируют Навоийский горнометаллургический комбинат (НГМК), Алмалыкский горно-металлургический комбинат, Узбекский металлургический комбинат и государственное предприятие «Навоийуран». За последние годы в эти четыре предприятия государством было инвестировано 7 миллиардов 400 миллионов долларов.
14 февраля 2024 правительство Узбекистана опубликовало государственную инвестиционную стратегию на 1 квартал 2024 года. В ней представлены 17 горнодобывающих проектов с участием иностранных инвесторов из Китая и Турции. Общая стоимость проектов составляет $3,6 млрд, из которых $1,6 млрд приходится на финансирование консорциума стран Персидского залива, состоящего из Vision Invest (Саудовская Аравия), Qatar Mining и ADQ (ОАЭ), который, по-видимому, финансирует литиевое предприятие компании «Янги кон».
Пока сложно оценить, как международный рынок среагирует на возможный выход или снижение инвестиционной активности единственного иностранного инвестора в золотодобывающем секторе в Узбекистане. В 1990-х годах освоением золотого месторождения Заравшан совместно с НГМК занималась самая большая в мире золотодобывающая компания Newmont, покинувшая страну в 2006-м году из-за налоговых претензий со стороны тогдашнего правительства Узбекистана.
Планы развития горнодобывающей отрасли Узбекистана будут представлены на выставочном стенде НГМК № 2744 на конвенции PDAC в Торонто 3-6 марта 2024. Делегации Узбекистана будет представлена на уровне ведущих специалистов и руководителей компаний и государственных организаций, включая Министерство горной промышленности и геологии, Департамент стратегического развития и инвестиций, Департамент развития энергетических ресурсов, Отдел международного сотрудничества и привлечения инвестиций, Алмалыкский ГМК, «Навоийский ГМК» и «Навоиуран».
18-20 июня 2024 гожа в Бишкеке состоится 10-й горно-геологический форум МАЙНЕКС Центральная Азия, который предложит международную площадку для оценки инвестиционного потенциала стран региона и обсудит стратегии привлечения иностранных инвесторов в геологоразведку перспективных месторождений критически важных руд и металлов в странах Центральноазиатского региона, в т.ч. в Узбекистан.
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B2Gold’s Investment Hopes in Uzbekistan Dashed after Six-Year Search
According to the World Gold Council, Uzbekistan ranked 10th in the world in terms of gold production (110.8 tons) in 2023.
According to the World Gold Council, Uzbekistan ranked 10th in the world in terms of gold production (110.8 tons) in 2023.
Industry sources suggest that Canadian gold mining company B2Gold is preparing to change its investment strategy in Uzbekistan. While the specific reasons remain unclear, the decision may be linked to the challenges of operating within the country’s state-controlled mining industry.
The company first announced its investment plans during the round table of the MINEX Uzbekistan Forum, held in Tashkent on 17 May 2017. According to the Foreign Investment Promotion Agency, B2Gold entered the market in 2018. In 2019, B2Gold invested $2.18 million in projects in Uzbekistan, and in 2020, more than $3 million. In July 2023, Reuters reported that B2Gold Corp was considering additional opportunities to acquire gold assets to accelerate growth. The company’s CEO, Clive Johnson, said the company was looking at assets that are already operating, not those that are in development. Since B2Gold’s projects in Uzbekistan are at an early stage, this may have been the main reason for the company’s management to close the branch in Tashkent to concentrate on consolidating production assets with smaller producers in other countries of the world. In addition to Canada, where B2Gold acquired the Sabina Gold deposit in April 2023 for C$1.1 billion (US$832.1 million), the company is engaged in gold mining in Mali, Namibia and the Philippines.
Uzbekistan has an ambitious goal of doubling its economy by 2030.
This growth is reflected in the increasing role of national enterprises. Over the past six years, their share within the overall industry has grown from 10% to 17%, and their contribution to budget revenues has increased from 11% to 25%. In 2023 Uzbekistan has laid out bold targets for its mining sector within its 2030 Development Strategy. The nation aims to explore 60,000 km of potentially mineral-rich areas by 2024.
Key production goals (47 and 48) include:
- Increasing copper production by 3.5 times to fuel high-value manufacturing.
- Increasing gold production by 1.5 times.
- Tripling silver production.
- Tripling uranium production.
To support downstream industries, Uzbekistan plans to boost copper processing capacity within the electrical sector by 300 thousand tons. Additionally, the nation is seeking $1.5 billion in investment to localize the production of household appliances.
Uzbekistan’s strategy emphasises the adoption of international standards for assessing its mineral reserves, ensuring transparency and alignment with global best practices.
On November 6, 2023, Minister of Mining and Geology Bobir Islamov announced the development of a new subsoil law. This law aims to attract foreign investment by improving the legal framework for mining operations, providing transparent regulations, and reducing tax rates. Islamov emphasized that Uzbekistan spends $230 million annually on geological exploration and that the new law, developed in partnership with international consultants, will clearly outline opportunities for investors. As a positive result of these efforts, companies like the French Orano Mining and Canadian juniors, such as B2Gold, have begun investing in Uzbekistan’s mining industry.
On November 6, 2023, Minister of Mining and Geology Bobir Islamov announced the development of a new law on subsoil use. He emphasized the need to accelerate geological exploration, an area where Uzbekistan spends roughly $230 million annually. “In order to attract investors, of course, we need a very good legal framework – transparent and stable. To do this, together with consultants from the European Bank for Reconstruction and Development, with the involvement of international consultants from the Boston Consulting Group, we have developed a new law on subsoil use that provides direct action in order to clearly delineate and show all the opportunities for investors, their obligations, and, most importantly, the order of the game,” he said. Islamov specifically noted that tax rates for using subsoil were reduced, including a reduction from 10% to 7% on gold and copper, and from 10% to 2.7% on tungsten. These changes have helped attract companies like the French Orano Mining and Canadian juniors, including B2Gold, to invest in Uzbekistan’s mining industry.
On January 15, 2024, President Shavkat Mirziyoyev reviewed progress and future plans for the geological sector, a strategic area for Uzbekistan’s growing economy. The country has committed significant resources, allocating around 1 trillion soums per year (about $80 million), resulting in the exploration of 31,000 square kilometres. This investment focus has attracted $1.7 billion in investment projects to the industry.
Two weeks later, on 1 February 2024, President Shavkat Mirziyoyev reviewed development plans for Uzbekistan’s metallurgical sector. The extraction of gold and other solid minerals is centralised under four state-owned enterprises: the Navoi Mining and Metallurgical Combine, the Almalyk Mining and Metallurgical Combine, the Uzbek Metallurgical Combine, and the Navoiuran State Enterprise. These enterprises have received significant investment in recent years, totalling $7.4 billion.
On 14 February 2024, the Uzbek government released its state investment strategy for 1Q2024. 17 mining projects with foreign investors feature, mainly Chinese and Turkish. The total value of foreign mining projects is $3.6 billion of which $1.6 billion is financing from a Gulf consortium made up of Vision Invest (Saudi), Qatar Mining and ADQ (UAE) which appears to be financing for the Yangi Kon lithium venture.
It is hard to forecast how the market will react to the possible exit or decrease in investment from the only foreign investor in Uzbekistan’s gold mining sector. This uncertainty is heightened by past experiences, such as Newmont (the world’s largest gold mining company) leaving the country in 2006 due to unfounded tax claims by the Uzbek government.
The mining targets (goal 48), as per Uzbekistan 2030 Strategy, is to explore 60,000km of sites with commercial potential in 2024. Uzbekistan’s mining development plans and strategies will be presented at the National Mining and Metallurgy Company (NGMK) booth #2744 at the PDAC convention in Toronto from 3-6 March 2024. The Uzbek delegation will be represented by leading specialists and heads of companies and government organizations, including The Ministry of Mining and Geology, Department of Strategic Development and Investments, Department of Energy Resources Development, Department of International Cooperation and Investment Attraction, Almalyk Mining and Metallurgical Combine, Navoi Mining and Metallurgical Combine and Navoiuranium.
The 10th Mining and Exploration Forum MINEX Central Asia will be held in Bishkek on 18-20 June 2024. The Forum will provide an international platform for assessing the investment potential of the countries of the region and discussing strategies for attracting foreign investors to explore promising deposits of critical ores and metals in Central Asia, including Uzbekistan.