MINEX Forum

Month: June 2024

  • ArcelorMittal Reduces Emissions Significantly Through Environmental Investments in Poland

    ArcelorMittal Reduces Emissions Significantly Through Environmental Investments in Poland

    The global steel company ArcelorMittal has invested more than PLN 10.5 billion ($2.6 billion) in its Polish assets over the past 20 years, with a significant portion allocated to environmental projects. According to a press release from ArcelorMittal Poland, these investments have resulted in a 90% reduction in dust emissions and a 42% reduction in carbon dioxide emissions compared to 2004 levels.

    The company’s Polish division has undergone numerous changes in the past two decades, implementing new technologies in compliance with increasingly strict EU directives, decommissioning outdated installations, and modifying many production processes to minimize environmental impact. ArcelorMittal aims to achieve climate neutrality by 2050, with an interim goal of reducing CO2 emissions by 35% at its European plants by 2030 compared to 2018.

    “Decarbonization is a huge challenge for the steel industry across Europe,” commented Sanjay Samaddar, President of the Board of ArcelorMittal Poland. “To make it successful, several conditions must be met, including access to large-scale, renewable energy at competitive prices. We know the transformation will be a long-term process, so we are already working intensively to limit our impact on the environment in our current processes.”

    In recent years, ArcelorMittal has invested about PLN 700 million in green projects at the Dąbrowa Górnicza plant. Modernization efforts have also been made at plants in Sosnowiec, Zdzieszowice (PLN 205 million), and Kraków (PLN 100 million), among others. ArcelorMittal Poland plans to invest an additional PLN 165 million ($40.9 million) in modernizing the coke plant in Zdzieszowice, with all work expected to be completed by 2026.

    As reported by GMK Center, in 2023, ArcelorMittal Poland invested PLN 1.5 billion ($363 million) in modernization and growth projects at three facilities to improve product quality, energy efficiency, and plant efficiency, with the largest investment directed towards modernizing the blast furnace in Dąbrowa Górnicza.

  • Казатомпром заключил новый контракт на разработку месторождения Инкай

    Казатомпром заключил новый контракт на разработку месторождения Инкай

    АО «НАК «Казатомпром» заключило ещё один контракт на недропользование. Соглашение подразумевает извлечение радиоактивного металла из недр участка №3 месторождения Инкай. Соответствующие документы были подписаны после переговоров с Министерством энергетики РК. Этот контракт крайне важен для нацкомпании, поскольку существенно нарастит её минерально-сырьевую базу, передаёт пресс-центр оператора.

    Из сообщения Казатомпрома следует, что получение лицензии позволит за следующие четыре года добыть 701 т металла. Здесь отметим, что Инкай располагает значительными объёмами урана и входит в число основных месторождений этого сырья в республике. По мнению экспертов, запасы рассматриваемого участка достигают свыше 83 тыс. т. Кроме того, разработка этих недр окажет положительное влияние на развитие Туркестанской области.

    Также в компании полагают, что в дальнейшем контракт на право разработки этой территории достанется ТОО «Казатомпром-SaUran», дочерней компании нынешнего оператора.

  • Kazatomprom Signs New Contract for Mining Operations at Inkai Deposit

    Kazatomprom Signs New Contract for Mining Operations at Inkai Deposit

    Kazatomprom JSC has signed another mining contract. The agreement involves extracting radioactive metal from the subsurface of site No. 3 at the Inkai deposit. The relevant documents were signed following negotiations with the Ministry of Energy of Kazakhstan. This contract is crucial for the national company as it will significantly increase its mineral resource base, according to the operator’s press center.

    According to Kazatomprom, obtaining the license will allow the extraction of 701 tons of metal over the next four years. It is noteworthy that Inkai holds significant uranium reserves and is one of the main uranium deposits in the country. Experts estimate the reserves at the site to exceed 83,000 tons. Furthermore, developing these resources will positively impact the Turkestan region.

    Additionally, the company believes that in the future, the contract for the right to develop this area will go to Kazatomprom-SaUran LLP, a subsidiary of the current operator.

  • Казхром проведет ликвидационные работы на Донском ГОКе

    Казхром проведет ликвидационные работы на Донском ГОКе

    АО ТНК Казхром (входит в структуру ERG) намерено устранить последствия добычи полезных ископаемых на одном из рудников Донского ГОКа. Речь идет о месторождении «40 лет Казахской ССР — Молодежное». Известно, что транснациональная компания уже презентовала соответствующий проект.

    С 2019 по 2022 годы на этом участке, именуемом также шахтой Молодежной, ежегодно извлекали порядка 400 тыс. тонн хрома. Ликвидационные работы назначены на начало 2030 года и до ноября того же года должны быть завершены. В рамках проекта демонтируют шахтное оборудование и вывезут его с территории рудника.

    Запланировано устранение всех сооружений и инженерной инфраструктуры. Ликвидации подлежат горные выработки, которые еще необходимо надежно изолировать. Казхром также утилизирует отходы добычи хромовых руд и строительные отходы. После проведения этих работ ответственная группа займется восстановлением растительности.

    Известно, что подлежащие восстановлению территории площадью 12,7 га в будущем хотят отдать под сельскохозяйственные угодья. Что касается горного отвода, он составляет 2,41 км².

    Подземные работы будут проводиться ежедневно в три смены (по шесть часов каждая). На поверхности трудиться планируют круглосуточно — в две смены по двенадцать часов.

  • Kazchrome to Undertake Remediation Project at Don Mining and Processing Plant

    Kazchrome to Undertake Remediation Project at Don Mining and Processing Plant

    JSC TNK Kazchrome (part of ERG) has announced plans to remediate one of the mines at the Don Mining and Processing Plant. The project focuses on the “40 Years of the Kazakh SSR – Molodezhnoe” deposit. The transnational company has already presented the relevant project.

    From 2019 to 2022, this site, also known as the Molodezhnoe Mine, annually produced approximately 400,000 tons of chrome. The remediation works are scheduled to begin in early 2030 and are expected to be completed by November of the same year. The project includes dismantling and removing mine equipment from the site.

    All structures and engineering infrastructure will be removed, and the mine workings will be securely isolated. Kazchrome will also dispose of chrome ore mining and construction waste. Following these activities, a dedicated team will focus on restoring vegetation.

    The land slated for restoration covers an area of 12.7 hectares and is planned to be converted into agricultural land in the future. The mining allotment spans 2.41 km².

    Underground operations will be conducted daily in three shifts (six hours each), while surface work will proceed around the clock in two shifts of twelve hours each.

  • Kazakhstan’s Gold Mining Industry Faces Challenges and Opportunities

    Kazakhstan’s Gold Mining Industry Faces Challenges and Opportunities

    At the recent V Forum of Gold Industry in Astana, Aida Alzhanova, Deputy General Director for Strategic Development of Polymetal Eurasia, discussed the current state of the industry and the company’s business growth plans.

    Aida addressed concerns about the depletion of the mineral resource base in the gold mining industry, despite experts’ optimism about Kazakhstan’s subsurface resources. The industry faces significant challenges, including the depletion of the mineral resource base, which is seen as a fundamental issue. Gold mining companies are increasing production rates annually, but the real growth in reserves is slow, with exploration and preparation of deposits taking seven to eight years on average. No major gold deposits have been discovered since independence, and many operations rely on Soviet-era discoveries. Some enterprises consider short-term extraction of off-balance ores, and some plants continuously seek external raw materials.

    Two primary reasons for these challenges are the low investment attractiveness of geological exploration, especially greenfield, and the bureaucratic process of obtaining permits for sample export for research. Investment incentives, such as real VAT exemptions for both subsoil users and service companies, are seen as effective tools. A significant issue for the entire mining sector is the non-return of payable VAT, which deters investors.

    Another major challenge is the low intensity of geological exploration. A bureaucratic process hampers the export of samples for analysis, with delays due to local accreditation requirements. The only internationally accredited laboratory, ALS Kazgeokhimia, is overloaded, with standard analyses taking 45 to 60 days, which is too long given the short field season in many regions. Accelerating exploration would benefit from the launch of a digital geological information database, which would facilitate AI implementation, expedite site selection, and increase the chances of discovering good deposits.

    To replenish the mineral resource base, Polymetal Eurasia actively collaborates with junior companies. The 2017 Subsoil Code simplified exploration rights acquisition, boosting domestic junior business and improving geological study quality. The company has about 20 exploration licenses and several for geological study, covering over 70,000 square kilometers. They are also developing digital solutions for managing large volumes of geoinformation and constructing an analytical laboratory with a capacity of 200,000 samples per year.

    Following the sale of Russian assets and the company’s rebranding to Solidcore Resources plc, Polymetal’s focus has shifted to prioritizing Kazakhstan. The strategy involves developing processing hubs in eastern and northern Kazakhstan and pursuing greenfield projects to establish new hubs. Long-term growth involves acquiring new deposits with assessed or ready-for-final-evaluation reserves, with domestic junior companies being key partners in this endeavor.

    Polymetal plans to invest approximately $1 billion, primarily in building a metallurgical plant in Pavlodar (Irtyshsky GOK) and expanding the company’s asset portfolio, including exploration and M&A activities.

  • Bulgaria’s Industrial Sectors Need Comprehensive Strategy to Overcome Challenges

    Bulgaria’s Industrial Sectors Need Comprehensive Strategy to Overcome Challenges

    Bulgaria’s manufacturing and mining sectors are currently facing serious challenges due to global economic shifts and rising competition. High energy consumption and largely outdated equipment make these sectors particularly vulnerable. A comprehensive National Industrial Strategy is necessary, aligning with European Union priorities such as the European Green Deal and the Net-Zero Industry Act, to increase sustainability, competitiveness, and innovation.

    According to Petar Murginski, the manufacturing and mining sectors are vital to Bulgaria’s economy, significantly contributing to industrial production and employment. However, high energy consumption, outdated equipment, and a heavy reliance on fossil fuels pose significant challenges. The 2023 European Semester Country Report for Bulgaria shows that 63% of the country’s energy mix comes from fossil fuels, while renewables only account for 15%. Additionally, Bulgaria has one of the lowest circular economy rates in Europe, with only 4.8% material reuse compared to an EU average of 11.5%, according to the 2022 Eurostat Circular Economy Report.

    Despite these challenges, Bulgaria holds significant potential in critical raw materials and green technology adoption. The country’s strategic position in the European supply chain is underutilized, and there are substantial regional disparities in productivity and infrastructure. The Sofia Capital region alone generates 41% of the national GDP, according to 2022 National Statistical Institute GDP Data. To address these issues, a comprehensive National Industrial Strategy focusing on reducing carbon emissions, enhancing energy efficiency, and promoting the circular economy is essential.

    The strategy’s primary objective should be to facilitate Bulgaria’s transition towards greener, more innovative, and technologically advanced industries. It aims to increase competitiveness by promoting resource efficiency, digitization, and circular economy practices. Aligning Bulgaria’s industrial growth with EU policies, such as the Critical Raw Materials Act, and setting clear policy objectives to empower the Bulgarian Ministry of Economy and Industry are crucial for implementing reforms that enhance productivity, attract investment, and secure strategic autonomy.

    Key Findings reveal that both the mining and manufacturing sectors face significant technological gaps and supply chain vulnerabilities. High energy consumption per unit of production and outdated equipment make these industries particularly vulnerable. Modernizing equipment and processes is essential to increase efficiency and reduce carbon emissions. Investment in new technologies and infrastructure is crucial for overcoming these challenges. Supply chain disruptions, especially of critical raw materials, also present significant risks to industrial stability.

    Despite these challenges, there is considerable potential for green technology adoption. Bulgaria’s strategic position and rich mineral resources offer opportunities for sustainable development. Enabling zero-emission technologies and promoting the circular economy are critical. Investing in renewable energy sources and improving energy storage solutions can significantly enhance the sustainability of these sectors.

    The strategy recommends several measures for modernization and sustainability, including modernizing existing infrastructure, adopting new technologies to improve energy efficiency, and reducing emissions. Implementing circular economy practices, encouraging innovation through investment in research and development, and supporting companies in the green technology sector are vital for sustainable growth.

    Policy recommendations include providing incentives for the adoption of zero-emission technologies, supporting projects that contribute to carbon neutrality, encouraging the circular use of critical raw materials, and supporting recycling initiatives. Developing industrial parks as hubs for innovation and sustainable growth is also emphasized, with a focus on upgrading infrastructure, creating favorable conditions for attracting strategic investors, and addressing regional disparities.

    The strategy outlines a clear roadmap for implementation, including engaging with key stakeholders, establishing a monitoring and evaluation framework, and maintaining flexibility to adapt based on ongoing feedback and changing conditions.

    Expected outcomes include enhanced competitiveness, sustainable growth, increased adoption of sustainable practices, and reduced regional disparities. Linking the strategy to EU funding opportunities, such as the Critical Raw Materials Act, Innovation Fund, and LIFE Programme, is crucial for its successful implementation and achieving sustainable growth.

  • Bozhurishte Residents Overwhelmingly Reject Gold Mining in Zlatusha Area

    Bozhurishte Residents Overwhelmingly Reject Gold Mining in Zlatusha Area

    In a decisive referendum held on Sunday, 96.82% of eligible voters in the municipality of Bozhurishte rejected exploration activities and gold mining in the Zlatusha area, according to the Bozhurishte Municipal Election Commission (BMEC). The Zlatusha area spans the territories of Sofia Municipality, Sofia Province, and the municipalities of Dragoman, Slivnitsa, Bozhurishte, Breznik, and Pernik.

    Out of 6,815 eligible voters, 4,024 cast their ballots, with 3,896 affirmatively responding to the question opposing the Bozhurishte Municipal Council and the Mayor’s coordination of plans and decisions related to the extraction of metallic minerals and underground resources in the municipality’s territory, as defined by Decision No. 486/2018 of the Energy Minister.

    For the proposal to be accepted, at least 40% of eligible voters needed to participate, and more than half of the participants had to vote ‘Yes’. With these criteria met, the BMEC declared the proposal accepted. This decision can be appealed before the Sofia Region Administrative Court within seven days.

    Sunday’s voting took place in 12 sections across Bozhurishte municipality, coinciding with the elections for the National Assembly and European Parliament. The referendum was initiated by all Bozhurishte municipal councillors, prompted by a contract for a project to prospect and explore minerals in the Zlatusha area.

  • Norway Reveals Europe’s Largest Rare Earth Element Deposit in Ancient Volcano

    Norway Reveals Europe’s Largest Rare Earth Element Deposit in Ancient Volcano

    The heart of an ancient volcano in Norway hosts Europe’s largest deposit of rare earth elements, as announced by the mining company Rare Earths Norway. On June 6, the company released a report estimating that the deposit contains 8.8 megatons of rare earth oxides, with approximately 1.5 megatons expected to be rare earth magnets used in wind turbines and electric vehicles.

    “The resource estimate underscores the potential of the deposit to be a truly transformative asset that can underpin a secure rare earths value chain for Europe,” said Rare Earths Norway CEO Alf Reistad in a statement. The deposit, known as the Fen Carbonatite Complex, is located southwest of Oslo near Lake Norsjø. Formed around 580 million years ago, the complex was the pipe of an active volcano that has since eroded, exposing a magma-filled pipe about 2 kilometers in diameter at the surface.

    The solidified magma, now carbonatite rock, is rich in minerals containing rare earth elements such as neodymium and praseodymium, which are vital for making magnets and other applications like aircraft engines. The mining company’s estimate focuses on the upper portion of the ancient volcano down to 1,535 feet below sea level, with likely deposits extending to about 3,300 feet.

    Rare Earths Norway plans to continue exploratory drilling and will construct a pilot plant near the outcrop to process the ore into pure rare earth elements. A 2023 report from the Oxford Institute for Energy Studies highlighted that while about 70% of the world’s supply of rare earth elements is mined in China and 90% is processed there, these elements are widely distributed globally. Countries are now striving to secure their own domestic supply chains for these critical minerals. In the U.S., for instance, researchers are investigating coal mines as potential sources for rare earth metals.

     

  • Critical Metals Corp. Acquires Controlling Interest in World’s Largest Rare Earth Deposit

    Critical Metals Corp. Acquires Controlling Interest in World’s Largest Rare Earth Deposit

    Critical Metals Corp. (Nasdaq: CRML) has announced an agreement to acquire a controlling interest in the Tanbreez project in Greenland, home to the largest rare earth deposit in the world. The Tanbreez deposit hosts 28.2 million tonnes of total rare earth oxides (TREO) within 4.7 billion tonnes of material, according to internal company estimates. Notably, the asset contains over 27% heavy rare earth elements (HREE), and Critical Metals is working to convert these internal estimates to U.S. SEC standards.

    Once operational, the mine is expected to supply rare earth elements to Europe and North America. The Tanbreez areaboasts year-round direct shipping access through deep-water fjords leading to the North Atlantic Ocean, providing key transportation outlets. The outcropping orebody, known as Kakortokite, spans 8 km by 5 km and is approximately 400 metres thick.

    Critical Metals acquired the project from Rimbal Pty. Ltd., controlled by geologist Gregory Barnes. CEO Tony Sagedescribed Tanbreez as a “game-changing rare earth mine for the West,” positioning Critical Metals Corp. as a leading supplier of critical minerals with a diversified portfolio spanning multiple geographies.

    In addition to the Tanbreez acquisition, Critical Metals owns Europe’s first fully permitted lithium mine, the Wolfsberg lithium project in Austria, which debuted on the Nasdaq in March. Upon completing construction at Wolfsberg by 2026, the company has committed to supplying BMW by 2027. Critical Metals has also secured a deal with Obeikan Investment Group to build a lithium hydroxide plant in Saudi Arabia.

    Shares of Critical Metals rose 4.6% by 12:00 p.m. EDT, with the company’s market capitalization reaching $877 million.