MINEX Forum

Month: March 2026

  • Vulcan Energy Secures First Lithium Production Licence for Lionheart Project in Germany

    Vulcan Energy Secures First Lithium Production Licence for Lionheart Project in Germany

    ASX-listed Vulcan Energy has secured a key regulatory milestone for its Lionheart project, receiving a lithium production licence in Germany’s Upper Rhine Valley Brine Field.

    The licence, granted in the state of Rhineland-Palatinate, is the first of its kind issued in the region. Known as LiThermEx, it covers Vulcan’s Insheim geothermal production area, where renewable heat and electricity are already being generated.

    The permit has been awarded for an initial six-year period, with the company planning to extend it in line with the project’s targeted 30-year operational life.

    ⚡ Lithium meets geothermal power
    Lionheart is not a typical mining project. It blends lithium extraction with geothermal energy production, creating a hybrid model where hot underground brines are used both to generate renewable energy and extract lithium.

    The project is designed to produce around 24000 tonnes per year of lithium hydroxide monohydrate — a key battery material used in electric vehicles — while simultaneously supplying electricity and heat to local communities.

    CEO Cris Moreno described the licence as a major step forward.

    “Securing the first lithium production licence within the Lionheart project marks another important milestone,” he said, adding that the project supports Europe’s ambition to build a fully domestic lithium supply chain powered by renewable energy.

    💶 De-risked and funded
    The licence further de-risks the project, which is already fully financed and under construction following a €2.2 billion funding package completed in December.

    Vulcan expects additional production licences to be granted across the broader project area as development progresses.

    🧭 Strategic timing
    With Europe racing to secure battery raw materials and reduce dependence on external suppliers, projects like Lionheart sit at the crossroads of energy transition and resource security.

    Production is currently targeted to begin in 2028 — when lithium demand is expected to be even more electrified, quite literally.

  • ACG Metals Targets Up to 10 Copper Mine Acquisitions to Scale Production

    ACG Metals Targets Up to 10 Copper Mine Acquisitions to Scale Production

    London-listed ACG Metals is pursuing an ambitious expansion strategy, targeting up to 10 copper mine acquisitions as it seeks to rapidly scale production and position itself as a Western supplier of the strategic metal.

    The company confirmed it is in active discussions over several assets, many of which are located along the Tethyan Copper Belt — a vast mineral-rich corridor stretching from southeastern Europe through Türkiye and into South Asia.

    ACG is focusing on producing or near-production assets, allowing it to accelerate output rather than wait years for greenfield development. The strategy reflects a broader shift across the mining sector toward faster, acquisition-led growth.

    🚀 From gold to copper growth engine
    ACG completed its first major deal in 2024 with the $300 million acquisition of the Gediktepe gold and silver mine in western Türkiye. The company plans to begin copper production at the site this year and is using it as a launchpad for broader expansion.

    Its long-term ambition is bold: scale annual copper output to 300000 tonnes through a series of global acquisitions.

    Founder and CEO Artem Volynets said market volatility could actually support dealmaking.

    “Volatility always presents opportunities,” he noted, adding that while higher spot prices can complicate negotiations, they also create windows for strategic acquisitions.

    📈 Copper’s magnetic pull
    Rising demand for copper — driven by electrification, renewable energy, and the explosive growth of AI data centres — is reshaping the mining landscape and fuelling consolidation.

    Recent industry developments highlight the trend:

    • Ongoing discussions around mega-mergers between major mining players

    • Intensifying competition for high-quality copper assets globally

    Copper prices have already climbed above 13000 per tonne, with long-term expectations pointing toward further increases despite short-term fluctuations.

    Volynets described the outlook as a “stepwise climb,” with prices likely moving in waves toward the 13000–15000 range over time.

    🌍 Geopolitics meets geology
    ACG is positioning itself as a Western-aligned supplier, with copper from its Turkish operations expected to feed European smelters.

    For now, the company is prioritising assets close to its operational base in Türkiye and Eastern Europe — regions offering relatively lower costs and less competition compared to more saturated markets.

    Africa and Latin America remain on the radar for future expansion, though Volynets acknowledged that Africa in particular is becoming a geopolitical battleground for control over critical minerals.

    ⚙️ Cost discipline as survival tool
    Despite bullish long-term fundamentals, ACG is keeping a sharp focus on cost control — the quiet survival skill of mining.

    “Regardless of what prices are doing, miners should focus on cost of production,” Volynets said, noting that ACG’s operations currently sit in the lowest quartile of the global cost curve for gold.

    While copper is the main growth driver, the company continues to produce gold, silver and zinc. Gold, in particular, may remain supported by geopolitical uncertainty, acting as a financial anchor while copper builds momentum.

  • US DOE Launches $500M Push to Strengthen Critical Minerals and Battery Supply Chains

    US DOE Launches $500M Push to Strengthen Critical Minerals and Battery Supply Chains

    The US Department of Energy (DOE) has announced plans to provide up to $500 million in funding to expand domestic processing, recycling and manufacturing capacity for critical minerals and battery materials.

    The funding initiative, led by the DOE’s Office of Critical Minerals and Energy Innovation (CMEI), is aimed at supporting both demonstration and commercial-scale facilities that process and recycle key materials used in batteries and energy technologies.

    The program targets strategic minerals including lithium, graphite, nickel, copper and aluminum, as well as materials recovered from used battery systems.

    US Energy Secretary Chris Wright said the move is intended to reduce reliance on foreign supply chains, particularly those controlled by geopolitical rivals.

    “For too long, the United States has relied on hostile foreign actors to supply and process the critical materials essential for battery manufacturing,” Wright said.

    The DOE emphasized that strengthening domestic supply chains is critical not only for energy security but also for meeting rising electricity demand linked to artificial intelligence, electrification and clean energy systems.

    ⚙️ Where the money goes
    The funding will support projects across three key areas:

    • Processing of critical minerals from raw feedstocks

    • Recycling of critical materials from end-of-life products

    • Manufacturing of battery materials and components

    This reflects a broader strategy to build resilience across both upstream and midstream segments of the supply chain.

    🌐 Global cooperation still in play
    The announcement comes as US officials engage with international partners at the Indo-Pacific Energy Security Ministerial in Japan.

    Assistant Secretary Audrey Robertson highlighted that while domestic capacity is expanding, collaboration with allies remains essential.

    “Boosting domestic production, including through recycling, will bolster national security and ensure the US and its partners are prepared for future energy challenges,” she said.

    🔋 Strategic context
    The initiative marks the third round of DOE funding focused on battery supply chains. It forms part of a wider effort by Washington to counterbalance global supply concentration, particularly in China, which dominates processing and refining of many critical minerals.

    By investing in processing and recycling infrastructure, the US aims to secure the materials needed for electric vehicles, grid storage systems and next-generation energy technologies — turning supply chains from fragile threads into reinforced cables.

  • Kazakhstan Mining and Energy Companies Deploy AI to Improve Safety and Efficiency

    Kazakhstan Mining and Energy Companies Deploy AI to Improve Safety and Efficiency

    Industrial enterprises in Kazakhstan are increasingly deploying artificial intelligence systems to improve operational safety and efficiency, according to the Ministry of Industry and Construction.

    Several large digital initiatives are currently being implemented at facilities operated by Solidcore Resources. Four major projects aimed at automating safety and production processes are underway across the company’s mining and processing sites.

    At the Bakyrchik mining operation in the Abai region, an automated employee health monitoring system has already been launched. The system uses AI algorithms to assess workers’ physical condition before each shift.

    If the system detects high blood pressure, signs of fatigue or alcohol intoxication, the employee is automatically prevented from performing hazardous tasks.

    Solidcore Resources plans to expand the use of intelligent technologies at its other facilities, including the Varvarinskoye hub in Kostanay region and the Ertis Hydrometallurgical Plant in Pavlodar region.

    One of the upcoming systems will provide real-time personnel positioning, allowing the company to track the location of employees across industrial sites. Workers entering hazardous zones will receive automatic alerts warning them about potential risks.

    Another tool under development is a digital operator assistant designed to support personnel in making operational decisions. The system will recommend optimal technological parameters and help prevent equipment failures.

    By the end of the year, the company also plans to introduce an AI-based flotation monitoring system. The technology is expected to reduce reagent consumption and minimize metal losses during processing.

    Artificial intelligence is also being adopted by other companies within the sovereign wealth fund Samruk-Kazyna.

    The national mining company Tau-Ken Samruk is using an intelligent core analysis system that automatically identifies signs of mineralization from photographs of drill core samples.

    Meanwhile, Samruk-Kazyna Ondeu is developing a digital twin of its sulfuric acid plant in Stepnogorsk. The virtual model will simulate equipment performance and is expected to reduce operating costs by 5–8%, lower downtime by about 5%, and decrease accident rates by 2–3%.

    KazMunayGas is also expanding the use of AI technologies through its ABAI digital platform. The company reported that an AI-based waterflood management module helped generate an additional 12000 tonnes of oil production in 2025, delivering an economic benefit of approximately 1.5 billion tenge.

    Officials say the growing use of artificial intelligence across Kazakhstan’s mining, metallurgy and energy sectors is part of a broader push to modernize industrial operations and improve productivity.

  • Uzbekistan to Boost Copper Processing Capacity to 240000 Tonnes

    Uzbekistan to Boost Copper Processing Capacity to 240000 Tonnes

    Uzbekistan’s copper processing capacity is expected to reach 240000 tonnes this year, President Shavkat Mirziyoyev announced during the inauguration of Copper Processing Plant No. 3 at the Almalyk Mining and Metallurgical Complex (AGMK).

    According to the president, processing volumes are set to continue growing over the next two to three years as new investment projects in the mining and metallurgical sector are implemented.

    Mirziyoyev emphasised that global demand for copper is increasing rapidly as the metal becomes increasingly important for modern industry. Copper plays a critical role in sectors such as energy, electrical engineering, digital technologies, artificial intelligence and the development of green energy systems.

    “Those who create a high value-added chain in the copper industry will effectively create the industry of the future,” the president said.

    As an example of the country’s expanding mining potential, Mirziyoyev highlighted the Yoshlik-1 deposit. The project was previously considered technically complex and difficult to develop, but production is now rapidly ramping up.

    The president said the mine is expected to produce around 20 million tonnes of ore this year. Over the next two years, output from the deposit is planned to increase to approximately 60 million tonnes.

    The expansion of processing capacity at AGMK forms part of Uzbekistan’s broader strategy to strengthen its position as a major producer of copper and other strategic metals, while building higher value-added industrial supply chains.

    Earlier, Kursiv Uzbekistan reported that Mirziyoyev officially launched the new copper processing plant at AGMK as part of the country’s industrial development programme.

  • Ausenco Selected to Lead Feasibility Study for Finland’s Ikkari Gold Project

    Ausenco Selected to Lead Feasibility Study for Finland’s Ikkari Gold Project

    Engineering and project delivery firm Ausenco has been awarded a contract to lead the feasibility study for the Ikkari gold project in northern Finland, owned by Rupert Exploration Finland Oy.

    The project is located about 45 km from Sodankylä in the Lapland region and represents a significant grassroots gold discovery made in 2020. Following the completion of a Pre-Feasibility Study in early 2025, the project is now advancing toward development as a staged 3.5 million tonne per year mining operation with a planned mine life of around 20 years.

    The development strategy предусматривает запуск открытой добычи в течение первых десяти лет, после чего проект перейдет на подземную разработку методом long-hole open stoping на оставшийся срок эксплуатации.

    Ausenco will deliver a bankable feasibility study from its Perth office, integrating specialists from its teams in Australia and Canada. The company says the collaborative structure will combine global technical expertise with experience designing and delivering gold mining projects in remote and challenging environments.

    Rupert Resources CEO Graham Crew said the appointment marks an important step in advancing the project toward development.

    “The appointment of Ausenco represents an important milestone in advancing the project towards development,” Crew said. “Their proven ability to integrate teams from Australia and Canada in close collaboration with our project team and local partners ensures the delivery of a world-class study aligned with our strategic objectives.”

    The feasibility study will cover value engineering, project implementation planning and detailed design of the processing plant and supporting mine infrastructure.

    The study will be prepared to AACE Class 3 standards, providing capital and operating cost estimates with an accuracy of approximately ±15%. Ausenco will also act as the Qualified Person responsible for the NI 43-101 technical report.

    The company plans to incorporate energy-efficient technologies and design features aimed at reducing the project’s carbon footprint, supporting Rupert Resources’ broader carbon-neutral targets.

    Reuben Joseph, President for APAC and Africa at Ausenco, said the company looks forward to applying its experience in gold recovery technologies and energy-efficient project design.

    “We are excited to partner with Rupert Resources on their Ikkari project,” Joseph said. “By leveraging our global gold study and project delivery experience, we are well positioned to deliver a robust study that supports Rupert’s operational, environmental and local community goals.”

    Ausenco also emphasised the importance of working with local communities and regional organisations as the feasibility study progresses. The company said it will develop a project delivery framework that incorporates local expertise and aligns with regional standards, aiming to create long-term benefits for the surrounding region.

  • Uzbekistan Reports Major Copper and Gold Reserves at Yoshlik-1 and Qalmoqqir

    Uzbekistan Reports Major Copper and Gold Reserves at Yoshlik-1 and Qalmoqqir

    Uzbekistan has identified major mineral reserves at the Yoshlik-1 and Qalmoqqir deposits, including an estimated 45 million tonnes of copper and more than 5,000 tonnes of gold, President Shavkat Mirziyoyev announced during the launch ceremony of Copper Processing Plant No. 3 at the Almalyk Mining and Metallurgical Complex (AGMK).

    According to the president, the scale of these reserves is sufficient to supply Uzbekistan’s industrial sector with raw materials for at least the next 100 years.

    In addition to copper and gold, the deposits also contain rare metals such as molybdenum, selenium, tellurium and rhenium, which could support the development of new high-tech and innovative industrial projects.

    Mirziyoyev said the commissioning of the new processing facility significantly increases AGMK’s production capacity. Daily output of copper concentrate is expected to rise from 2,400 tonnes to approximately 5,000 tonnes.

    The plant incorporates modern technologies supplied by companies from the United States, Germany, Russia, China and Finland. Operations will be managed through an integrated digital control system using artificial intelligence.

    According to officials, the use of AI-driven monitoring and optimisation systems will reduce energy consumption by around 10%, lower production costs by 15% and increase labour productivity by roughly 10%.

    The expansion of AGMK’s processing capacity forms part of Uzbekistan’s broader strategy to strengthen its mining and metallurgical sector while increasing value-added production from its domestic mineral resources.

    Earlier, Kursiv Uzbekistan reported that the country’s gold and foreign exchange reserves recently exceeded $77 billion for the first time.

  • Ukraine Creates Working Group to Address Challenges at Ferrexpo’s Poltava Mining

    Ukraine Creates Working Group to Address Challenges at Ferrexpo’s Poltava Mining

    Ukraine’s Verkhovna Rada Committee on Economic Development has established a working group to address key operational challenges facing mining companies, with the situation at the Poltava Mining and Processing Plant — part of the Ferrexpo group — becoming the first issue under review.

    According to Member of Parliament Oleksiy Movchan, the group held its initial meeting online with participation from representatives of the Ministry of Economy, the National Bank of Ukraine, the Ministry of Justice, the State Tax Service, industry associations, and management of the Poltava and Yeristovo mining and processing plants.

    Several major issues affecting the Poltava operation were discussed, including electricity shortages and high power costs, blocked VAT refunds, and outstanding foreign currency payments owed by the parent company.

    One of the most pressing challenges is the non-refund of value-added tax due to sanctions imposed on the company’s ultimate beneficiary, businessman Kostyantyn Zhevago.

    Dmytro Mospan, manager of legal support for financial activities at Poltava Mining and Processing Plant, said more than UAH 3 billion in VAT refunds remains blocked for the company.

    According to Mospan, the lack of access to these funds has forced the company to reduce the working week, cut social programmes, lower maintenance spending and scale back mining operations.

    The State Tax Service said the situation is governed strictly by the Tax Code of Ukraine. Under Article 200.4, VAT refunds cannot be issued to taxpayers whose ownership structure includes individuals under sanctions.

    Even in cases where courts have ruled in favour of the company, payments remain blocked. Funds are currently held by the State Treasury pending enforcement of court decisions but cannot be transferred due to provisions under Article 200.12 of the tax code.

    One court ruling alone has frozen approximately UAH 230 million related to the plant.

    The working group plans to further examine the company’s ownership structure at future meetings following additional reports from tax authorities.

    Energy supply is another major challenge for the enterprise. Company representatives said limited availability of electricity and high power prices are making operations increasingly unprofitable. However, officials noted that electricity costs are a broader issue affecting Ukraine’s entire mining and metallurgical sector.

    The matter is expected to be discussed further with the Ministry of Energy during upcoming sessions of the working group.

    Movchan also said Ferrexpo AG owes the Poltava operation more than $500 million in unpaid foreign currency proceeds.

    “This debt has been confirmed by international arbitration decisions and the figures have been verified by representatives of the National Bank,” he said.

    The issue will also be examined in subsequent meetings.

    Earlier this month, Ferrexpo announced it had restarted pellet production at the Poltava Mining and Processing Plant after suspending operations in January 2026. The restart was made possible by improvements in electricity supply and lower energy costs.

    According to GMK Center, Ukraine’s iron ore exports fell by 8% in 2025 compared with the previous year, totaling 30.99 million tonnes. In January–February 2026 exports declined even further, dropping 40.9% year-on-year to 3.31 million tonnes, the lowest level recorded since 2023.

  • US, EU and Japan Prepare Critical Minerals Trade Pact to Counter China

    US, EU and Japan Prepare Critical Minerals Trade Pact to Counter China

    The United States, Japan and the European Union are preparing to announce plans for a new trade framework aimed at strengthening supply chains for critical minerals and reducing dependence on China, according to people familiar with the discussions.

    The initiative is expected to lay the groundwork for a broader plurilateral trade agreement covering key minerals used in electric vehicles, clean energy technologies and advanced manufacturing. Negotiations are being led by the Office of the US Trade Representative (USTR) in coordination with officials in Brussels and Tokyo.

    Officials involved in the talks say the framework may include coordinated trade policies such as price floors, tariffs and other market mechanisms designed to counter price distortions linked to Chinese supply. A price floor would establish a minimum market price for selected minerals, encouraging investment in mining and processing projects while preventing cheaper imports from undercutting producers participating in the agreement.

    The Defense Advanced Research Projects Agency (DARPA) is reportedly assisting US trade officials in developing pricing models for the mechanism.

    Global efforts to diversify critical mineral supply chains intensified after China introduced export controls on several rare earth elements and strategic minerals last year. The restrictions were widely seen as a response to sweeping tariffs imposed by the United States on imported goods.

    Although supply pressures have eased since their peak last year, manufacturers in Europe, the United States and Japan continue to report shortages and delays in receiving critical mineral shipments from Chinese suppliers.

    USTR is expected to begin formal negotiations with the European Union and Japan in April, shortly after the close of a public consultation period for industry stakeholders on March 19.

    The announcement may coincide with Japanese Prime Minister Sanae Takaichi’s visit to the White House scheduled for March 19. European officials are also coordinating closely with Washington and Tokyo on the initiative, although the timing of Brussels’ announcement has not yet been finalized.

    The concept is also expected to feature prominently at the upcoming Group of Seven summit.

    Earlier this year, the United States signed a similar action plan with Mexico aimed at coordinating policies on critical mineral supply chains. The agreement includes provisions to examine border-adjusted price floors for mineral imports and to explore joint trade policies supporting secure supply.

    Officials say the proposed framework between the US, EU and Japan will likely mirror many elements of the US–Mexico agreement. Potential areas of cooperation include investment screening, research and development in mineral processing technologies, coordinated stockpiling strategies and support for downstream supply chains.

    While the exact list of minerals covered has not yet been finalized, officials are considering starting with a limited group of strategic materials before expanding the agreement to include a broader range of critical minerals.

    The initiative reflects growing concern among Western economies about supply concentration in global mineral markets. China currently dominates the processing and refining of many critical materials, including rare earth elements, graphite and several battery metals.

  • Finland Rare Earth Discovery Highlights Europe’s Processing Gap

    Finland Rare Earth Discovery Highlights Europe’s Processing Gap

    Recent drilling results from the Korsnäs rare earth project in Finland are drawing attention to Europe’s geological potential in critical minerals, but they also highlight a deeper challenge for the continent: the lack of domestic processing capacity.

    Exploration company European Resources reported its strongest rare earth intercept to date at the project, including a 31.5-metre interval averaging 4,902 parts per million total rare earth oxides (TREO). The mineralisation also contains a relatively high proportion of neodymium and praseodymium (NdPr), accounting for roughly 28–30% of the rare earth mix.

    While encouraging, the results represent only an early stage of resource development. The next phase will require additional drilling and modelling to confirm the continuity and scale of the deposit.

    NdPr is particularly important because it forms the foundation of permanent magnets used in electric vehicles, wind turbines, defence systems and other advanced technologies. These magnet rare earth elements are considered among the most strategically important minerals for Europe’s industrial and energy transition.

    However, experts note that discovering deposits alone does not guarantee supply security. In the rare earth sector, the most complex and capital-intensive stage of development typically occurs after mining, during chemical processing, separation and waste management.

    The Korsnäs project benefits from its location in Finland, a country with strong mining institutions, established infrastructure and relatively stable regulatory systems. This reduces certain development risks compared with projects in more uncertain jurisdictions.

    Early mineralogical studies suggest the deposit contains monazite and apatite minerals, which can support certain processing routes. However, monazite often contains trace amounts of thorium or uranium, which can introduce stricter regulatory requirements related to residue handling and environmental protection.

    Industry analysts say processing plants typically account for the largest share of capital expenditure in rare earth projects, often exceeding the cost of the mining operation itself. Complex processing flowsheets and environmental permitting requirements can significantly affect project economics and timelines.

    European Resources has already begun metallurgical testing and downstream processing studies with the Australian Nuclear Science and Technology Organisation (ANSTO) to evaluate potential separation technologies and processing pathways.

    Another notable feature of the Korsnäs results is the relatively high proportion of NdPr within the deposit. While TREO measures total rare earth content, economic value is usually concentrated in magnet elements such as neodymium and praseodymium, with smaller contributions from dysprosium and terbium. Deposits dominated by cerium and lanthanum, which are more abundant but less valuable, often face weaker economics.

    The development of projects such as Korsnäs also intersects with broader European industrial policy. Under the EU’s Critical Raw Materials Act, the bloc aims by 2030 to extract at least 10% of its annual demand for strategic minerals domestically, process 40% within the EU and source 25% from recycling.

    Achieving those targets will require major investment not only in mining but also in separation facilities, refining plants and downstream manufacturing. At present, China dominates the global rare earth processing sector, giving it significant influence over supply chains.

    Analysts say that even if Europe develops new mines, the continent will remain vulnerable to supply disruptions unless it builds domestic separation and refining capacity.

    The Korsnäs discovery therefore represents more than a geological milestone. It highlights Europe’s growing recognition that securing critical mineral supply will depend not only on discovering deposits, but also on developing the industrial infrastructure needed to process them.