MINEX Forum

Region: Europe

  • Lykos Metals finds new gold deposits at Bosnia project

    Lykos Metals finds new gold deposits at Bosnia project

    [vc_section][vc_row][vc_column][distance desktop_type=”30″][lvs][distance desktop_type=”30″][vc_btn title=”Source – Ьining.com” color=”sky” i_type=”material” i_icon_material=”vc-material vc-material-perm_device_information” add_icon=”true” link=”url:https%3A%2F%2Fwww.mining.com%2Fweb%2Flykos-metals-finds-new-gold-deposits-at-bosnia-project%2F|target:_blank”][distance desktop_type=”30″][vc_column_text]Lykos Balkan Metals, part of Australian battery metals explorer Lykos Metals Ltd, said on Thursday it had found new large gold deposits at its Sinjakovo project in northwestern Bosnia, where gold quantities have been already discovered.

    “The continuation of geological exploration … has confirmed the existence of new gold geological formations, this time at the location of Zekilova Kosa,” the company said in a statement.

    It added that the most recent analysis conducted in world renowned laboratories has confirmed that the concentration of gold at some parts of the location was 4.89 grams/tonne.

    The exploration has been done in an area of 1.2 square kilometres but it would expand further northwest, where even better results are expected, the statement said.

    In February, Lykos Metals said it had found significant quantities of gold at the Otomalj location of its Sinjakovo project, with concentration of gold at some locations of even 27.5 grams/tonne in a continuous line of 60 metres.

    It had announced it would allocate a major part of its 60 million Bosnian marka ($32.8 million) investment in Bosnia this year in further exploration.

    Lykos Balkan Metals has been given a permit for geological exploration at the site in the municipality Jezero by the industry ministry of the Serb Republic, one of Bosnia’s two autonomous regions, but the Jezero assembly and citizens had opposed the research, fearing environmental damage.

    “Our company conducted geological exploration consulting all key stakeholders, i.e representatives of local communities and geological experts, focusing on extremely important practice of environment protection,” Mladen Lujić, the company’s executive director, said in the statement.[/vc_column_text][distance desktop_type=”30″][/vc_column][/vc_row][/vc_section]

  • UkrInvest presented mining opportunities to foreign investors

    UkrInvest presented mining opportunities to foreign investors

    [vc_section][vc_row][vc_column][distance desktop_type=”30″][lvs][distance desktop_type=”30″][vc_btn title=”Source – ukraineinvest.gov.ua” color=”sky” i_type=”material” i_icon_material=”vc-material vc-material-perm_device_information” add_icon=”true” link=”url:https%3A%2F%2Fukraineinvest.gov.ua%2Fnews%2F06-06-2023-3%2F|target:_blank”][distance desktop_type=”30″][vc_column_text]Interest in Ukrainian mining companies has grown rapidly in recent years. Ukraine’s own mineral and raw materials base allows the country to reduce its dependence on imports in strategic sectors of the economy, develop new competencies in innovative industries, and almost completely satisfy the needs of the national industry, as well as contribute to the development of its export potential.

    Yevhenii Shakotko, Deputy Executive Director of UkraineInvest, and Stefan Khrystenko, Head of Legal Affairs and Regulatory Policy at UkraineInvest, held a workshop for mining companies on obtaining state support for the implementation of investment projects.

    They spoke about state support for investment projects with significant investments, including exemption from income tax, land lease, exemption from payment of import duties on new equipment and components, and exemption from land tax.

    Investors who decide to invest in the extractive industry will receive special conditions from the state in the form of compensation of up to 30% of the planned amount of investment within the project, namely: exemption from payment of VAT and customs duties on import of new equipment, provision of preferential land use rights, as well as the possibility of construction or reconstruction of communications, power and water supply facilities, etc. at the expense of the state or local budgets.

    The event was attended by managers and specialists from international and Ukrainian mining companies and business associations.[/vc_column_text][distance desktop_type=”30″][/vc_column][/vc_row][/vc_section]

  • Livista plans German lithium refinery for EV batteries

    Livista plans German lithium refinery for EV batteries

    [vc_section][vc_row][vc_column][distance desktop_type=”30″][lvs][distance desktop_type=”30″][vc_btn title=”Source – Mining.com” color=”sky” i_type=”material” i_icon_material=”vc-material vc-material-perm_device_information” add_icon=”true” link=”url:https%3A%2F%2Fwww.mining.com%2Fweb%2Flivista-plans-german-lithium-refinery-for-ev-batteries%2F|target:_blank”][distance desktop_type=”30″][vc_column_text]Livista Energy said on Thursday it plans a lithium refinery for electric vehicles (EV) batteries in Germany that should launch production in 2026 and has partnered with French oil and gas services provider Technip Energies to design the plant.

    Luxembourg-based Livista said it initially aims to refine 40,000 tonnes of lithium annually at the plant, or enough for batteries for around 850,000 EVs, with the potential to double capacity over time.

    The European lithium refiner said that recycled lithium from batteries should make up 50% of the plant’s capacity by 2030.

    “The capacity of our plants to accept recycled battery materials will make us a key part of the circular economy and will support our customers in sourcing lithium directly in Europe,” Livista chief operating officer Jean-Marc Ichbia said in a statement.

    Livista did not specify a location for the plant.

    Technip will design the plant and prepare construction plans – including for a potential expansion – and design a second plant in another, undisclosed location, the two companies said. Technip will also provide a cost estimate for constructing the refinery.

    China is by far the world’s largest lithium producer and refiner, and the European Union has been pushing for its own homegrown lithium industry to support the transition to EVs.

    Last week mining company Savannah Resources said Portuguese authorities had approved its environmental impact assessment (EIA) for what could become Western Europe’s largest lithium mine.

    The EU’s plans for battery independence also include recycling battery materials like lithium.

    As lithium mines and refineries take years to develop, building out European supply will be a lengthy process.

    (By Nick Carey; Editing by David Evans)[/vc_column_text][distance desktop_type=”30″][/vc_column][/vc_row][/vc_section]

  • Aramine opens new subsidiary in Poland

    Aramine opens new subsidiary in Poland

    [vc_section][vc_row][vc_column][distance desktop_type=”30″][lvs][distance desktop_type=”30″][vc_btn title=”Source – Global Mining Review” color=”sky” i_type=”material” i_icon_material=”vc-material vc-material-perm_device_information” add_icon=”true” link=”url:https%3A%2F%2Fwww.globalminingreview.com%2Fmining%2F05062023%2Faramine-opens-new-subsidiary-in-poland%2F|target:_blank”][distance desktop_type=”30″][vc_column_text]After Mexico, Niger, Burkina and Armenia, this strategic expansion demonstrates the company’s ongoing commitment to meet the proximity needs of its international customers and to strengthen its presence in the European market.

    Aramine Poland will be led by Piotr Bakowski, an expert in the mining sector for almost 20 years. Immersed in the mining industry from an early age thanks to his father, he opened his own company F.H.U. ATLAS in 2012 and supplies major mines such as ZGH Boleslaw and KGHM with spare parts, and provides maintenance and repair services.

    Christophe Melkonian, Aramine co-president, comments:

    “As a loyal Aramine customer for almost 10 years, it is natural that his experienced profile and in-depth knowledge of the Polish market has seduced us. We have great confidence in Mr. Bakowski and are convinced that he will provide Aramine Poland with the necessary energy for sustainable growth and long-term success in the region.”

    The new subsidiary, located in Przemkow, has 200 m2 of offices and nearly 500 m2 of workshop and storage. The company will manage a local stock and a team of technicians who will intervene in the neighbouring mines, remanufacture machines and components, and ultimately assemble the Aramine machines.

    Beyond creating local jobs, Aramine promotes the transfer of its skills, innovations, and technical knowledge within its Polish subsidiary.

    Aramine Poland will therefore, within a short period, offer the full range of the company’s products and services and will be active on a territory that will certainly not be limited to its country of establishment.

    Indeed, Poland was chosen for its central geographical position in Europe, its active economy and its growing market. With its good transport infrastructure, Poland is a strategic place for export to other countries of the European Union and beyond.

    The opening of this subsidiary is an important step in the French company’s expansion strategy, allowing Aramine to establish closer relationships with existing customers in Eastern Europe and to explore new business opportunities.[/vc_column_text][distance desktop_type=”30″][/vc_column][/vc_row][/vc_section]

  • Poland wants to start up its first nuclear power plant in 2033

    Poland wants to start up its first nuclear power plant in 2033

    [vc_section][vc_row][vc_column][distance desktop_type=”30″][lvs][distance desktop_type=”30″][vc_btn title=”Source – Ruetir” color=”sky” i_type=”material” i_icon_material=”vc-material vc-material-perm_device_information” add_icon=”true” link=”url:https%3A%2F%2Fwww.ruetir.com%2F2023%2F05%2Fpoland-is-going-to-develop-its-nuclear-industry-and-has-set-eyes-on-a-country-that-wants-to-put-an-end-to-its-own-spain%2F|target:_blank”][distance desktop_type=”30″][vc_column_text]Poland needs to reduce its dependence on coal. Currently, almost 80% of the electricity produced by this European country comes from fossil energy sources, a figure that places it well above the 35.9% average that prevails in Europe. Besides, does not have nuclear power; Its commitment to photovoltaic installations is anecdotal (barely touching 1.4% of total electricity production) and its wind farms only produce a little more than 10% of the electricity it needs.

    The challenge facing Poland is not trivial. This country is an important wagon on the European train, which prevents it from staying on the sidelines of the commitments that Europe has adopted in environmental matters. However, the Polish government has a plan. Its purpose is to develop its nuclear industry quickly and what is necessary to drastically reduce its dependence on fossil fuels in a short time. The problem is that it starts from scratch.

    At this juncture, the Polish Administration has no choice but to count on the complicity of other European countries that they have much more experience in the field of nuclear energy, and one of the states in which it has set its sights is Spain. In fact, a meeting between Spanish and Polish companies is currently taking place in Madrid with the aim of establishing the links that are necessary to help Poland develop its nuclear industry.

    Poland wants to start up its first nuclear power plant in 2033

    The itinerary that the Polish government has set is ambitious. Its goal is for its first nuclear power plant to come into operation in 2033, so it will be necessary to start construction no later than 2026. This plant will be in Choczewo, a town of approximately 5,000 inhabitants located in the extreme north of the country, in the Baltic sea coast. When the first reactor is ready, more units will be put into operation with a periodicity of two or three years for each of them.

    Poland needs to invest more than 30,000 million euros in the development of its nuclear industry

    Ultimately, Poland’s plan is for its future nuclear facilities to be capable of providing 23% of the electricity it needs no later than 2040. And to achieve this, it needs to invest more than 30,000 million euros in the development of this industry. This is precisely the gateway for Spanish companies. What both countries are seeking is to cooperate so that Poland can carry out its strategy, and the Spanish companies that will contribute to this objective will receive, as is logical, a part of that money.

    Curiously, we know some of the best located ones. At the end of 2019 we had the opportunity to visit the fuel rod factory that ENUSA Industrias Avanzadas has in Salamanca, and a few weeks later we were in one of the control room simulators that Tecnatom has developed in the Madrid town of San Sebastian de los Reyes. Ensa and Newtesol are other Spanish companies that have a lot of experience in the manufacture of equipment for nuclear power plants, and they will probably also participate in this project.

    In a way, it is paradoxical that Poland is determined to forge technological and business links with Spain in the field of nuclear energy. For the moment, the Spanish Government maintains the itinerary set for the nuclear blackout, so that if everything continues its course, the last Spanish nuclear power plant that will remain active, that of Trillo, will cease in 2035. In any case, this plan in no way invalidates Spanish companies with experience in the nuclear sector. In all probability its activity will continue beyond 2035 even though all its clients are hosted abroad.

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  • Poland boosts its gold reserves by 15 tonnes, biggest increase in nearly 3 years

    Poland boosts its gold reserves by 15 tonnes, biggest increase in nearly 3 years

    [vc_section][vc_row][vc_column][distance desktop_type=”30″][lvs][distance desktop_type=”30″][vc_btn title=”Source – Kitco News” color=”sky” i_type=”material” i_icon_material=”vc-material vc-material-perm_device_information” add_icon=”true” link=”url:https%3A%2F%2Fwww.kitco.com%2Fnews%2F2023-05-22%2FPoland-boosts-its-gold-reserves-by-15-tonnes-biggest-increase-in-nearly-3-years.html|target:_blank”][distance desktop_type=”30″][vc_column_text]Polish central bank bought 14.8 tonnes of gold in April, which was the biggest purchase since June 2019.

    According to the National Bank of Poland, the country’s gold reserves rose to 7.828 million fine troy ounces (243.5 metric tonnes) last month from 7.352 million. This was the largest increase since June 2019, when Poland’s reserves rose by 94.9 tonnes.

    The value of gold, including gold deposits and gold swapped, climbed to $15.52 billion in April from $14.55 billion.

    The April purchase also comes after the Bank’s Governor Adam Glapinski’s said in 2021 that Poland was planning to add 100 tonnes to its gold holdings to prepare for “the most unfavorable circumstances.”

    “Why does the central bank own gold? Because gold will retain its value even when someone cuts off the power to the global financial system,” Glapinski told local newspaper. “Of course, we do not assume that this will happen. But as the saying goes – forewarned is always insured. And the central bank is required to be prepared for even the most unfavorable circumstances. That is why we see a special place for gold in our foreign exchange management process.”

    This means that more buying could follow, said BMO Capital Markets managing director Colin Hamilton. “We expect central bank buying to remain robust this year (+596t), an ongoing tailwind for gold prices and sentiment,” Hamilton said.

    Central bank gold buying has been one of the driving forces behind higher gold prices this year.

    According to the World Gold Council, other central banks that bought gold in April included the People’s Bank of China, the Czech National Bank, and the Central Bank of Mongolia, with 8.1 tonnes, 1.8 tonnes, and 1 tonne, respectively.

    On the other hand, the Central Bank of Turkey is estimated to have sold a staggering 80.8 tons of gold in April to meet surging domestic demand. After buying the most gold than any other central bank last year, Turkey turned to selling in March and April to meet growing domestic demand, the WGC said. This was in an attempt to limit the need to import gold, which has been weighing on Turkey’s current account deficit.

    Turkey has seen a surge in gold demand as citizens embraced the precious metal as a hedge against inflation, which ran at a pace of over 85% at one point last year, and local currency devaluation.

    To get the latest WGC numbers on central bank gold buying from the first quarter, click here.[/vc_column_text][distance desktop_type=”30″][/vc_column][/vc_row][/vc_section]

  • Poland’s KGHM sees extra viable mining pits at its biggest mine in Chile

    Poland’s KGHM sees extra viable mining pits at its biggest mine in Chile

    [vc_section][vc_row][vc_column][distance desktop_type=”30″][lvs][distance desktop_type=”30″][vc_btn title=”Source – Nasdaq (Reuters)” color=”sky” i_type=”material” i_icon_material=”vc-material vc-material-perm_device_information” add_icon=”true” link=”url:https%3A%2F%2Fwww.nasdaq.com%2Farticles%2Fpolands-kghm-sees-extra-viable-mining-pits-at-its-biggest-mine-in-chile-0|target:_blank”][distance desktop_type=”30″][vc_column_text]GDANSK, May 18 (Reuters) – Poland’s largest ore miner KGHM Polska Miedz KGH.WA can verify four more viable mining pits in its flagship Sierra Gorda copper and molybdenum mine in Chile, vice president of the company’s management board for international assets Miroslaw Kidon said on Thursday.

    “We can verify and identify another four pits, which are of similar size to our current pit,” said Kidon on a conference call.

    He added that the company and a team of geologists suspected the newly identified pits might be in reality “one big super-pit”.

    Sierra Gorda, in which the Polish miner holds a majority stake, produced nearly 19 thousand tonnes of payable copper in the first quarter, 21% less than in the same quarter last year.

    Kidon explained that the decline was caused by a lower content of the metal in the ore, but underlined the company’s commitment to the mine.

    “Sierra Gorda became our flagship project, we constantly work to improve financial results and value of this company…”, he said.

    Another foreign mining operation that sustained a drop in its output was the Robinson copper mine in Nevada, U.S. whose quarterly output declined by an annual 63% to 5.3 thousand tonnes of payable copper.

    The fall was mainly due to extreme weather conditions, including record high snowfall, whose melting led to flooding of the mine’s communication routes.

    Kidon said he did not expect the mine to hit its yearly production goal, as the unit under which the mine operates has so far achieved only about 14% of its output target.

    “At the moment, I can only say that we expect non-execution of budget production volume for Robinson,” he said.

    He added, however, that it was too soon to make output predictions with certainty.

    (Reporting by Mateusz Rabiega and Anna Banacka; Editing by Jan Harvey and Christina Fincher)[/vc_column_text][distance desktop_type=”30″][/vc_column][/vc_row][/vc_section]

  • Spac Copper Mine, Albania

    Spac Copper Mine, Albania

    On 7 July 2022, a group of the MINEX Euope’22 Forum participants visited the Spac Copper mine operated by Tete Albania. Delegates visited two underground mines and a copper enrichment plant.  Spac Copper is one of the most productive mines of the area with an active tunnel of 12 km and around 3 million tons of recoverable reserves to be mined. TETE Albania plans to mine 3.6 million tons of ore with SPAC Project.

    Photos>>>

    Date: 7 July 2022

    Location: The SPAC project is at a very important spot logistically, located at a 90-km distance from Tirana.

    Highlights:

    • Spac copper mine (the second largest copper mine after Munella copper in Albania) has 3.6 million tons geologic reserve with 2.8 million tons (with 0.88% Cu grade) recoverable reserve.  
    • The Spac Deposit was discovered in 1954, with the initial exploration being carried out by Russian geologists up until 1960. Underground development began in 1966. Albanian Government invested in the mine for more than 81.000 meters of drilling, excavation of 140 m deep internal shaft and 12.000 meters of drifting during the communist regime. 
    • The mine was used as a political prison camp from 1966 until 1991, with much of the mine development and production being carried out manually by prison workers.  

  • Ellatzite Med, Bulgaria

    Ellatzite Med, Bulgaria

    MINEX Europe 2019 Forum participants visited Ellatzite-Med to explore the latest developments and opportunities in the Bulgarian mining industry.

    Photos>>>

    Date: 27 June 2019

    Location: located near the village of Mirkovo east of Sofia, Bulgaria

    Ellatzite-Med AD, part of GEOTECHMIN GROUP, is among the leading mining companies in Bulgaria, dealing mainly with open-pit mining and primary processing of porphyry copper gold-bearing ores from the Ellatzite deposit.

    Highlights:

    • Ellatzite-Med AD is one of the largest copper mining companies in Bulgaria, dealing mainly with the extraction and processing of copper porphyry gold-bearing ores from the Ellatzite deposit. The extracted ore is transported from the Ellatzite open-pit mine located near the town of Etropole to the Flotation Complex in Mirkovo village on a 6.5 km underground rubber-belt conveyor line which was driven beneath Stara Planina Mountain.
    • It is a structural-determinant enterprise in the Bulgarian economy and one of the largest investors and taxpayers. The company employs about 1,770 staff, most of whom are residents.
    • Over the years, various programmes have been elaborated to ensure the long-term operation of the company and to improve the financial and technical parameters of copper ore extraction and processing. Ellatzite mine ranks among the top copper-producing companies with the largest production capacities in Europe. The implementation of new projects and substantial investments in capital construction and technological equipment guarantee the sustainable operation of the mine complex in strict compliance with the relevant health, safety and environmental regulations.
  • Assarel-Medet Mining and Processing Complex, Bulgaria

    Assarel-Medet Mining and Processing Complex, Bulgaria

    The MINEX Europe 2019 Forum participants visited Assarel-Medet Mining and Processing Complex in Bulgaria.

    Assarel-Medet JSC Mining and Processing Complex is the first, biggest and leading Bulgarian company for open pit mining and processing of copper and other types of ores. The company has at its disposal mining machines which are unique for the country and state-of-the-art flotation equipment of leading world manufacturers. The main mining equipment of Assarel Mine includes modern 250-mm bit drilling units, 130-tonne trucks and 17 cubic meter shovels. The first in the North Hemisphere 160-m3 flotation cells of the latest generation are operational at the Assarel Concentrator Plant. Automated systems for technological process management and control have been implemented at the Assarel Mine and Concentrator Plant which ensure high efficiency and throughput.

    Photos >>>

    Date: 27 June 2019

    Location: 11 km northwest of the town of Panagyurishte and 90 km east of the capital Sofia, Bulgaria

    Highlights:

    The Assarel-Medet Mining and Processing Complex is the foremost mining operation in Bulgaria, specializing in open-pit mining and processing of copper ores.

    Formation and Scope: Established in 1986 through the merger of Assarel and Medet, it’s Bulgaria’s largest mining enterprise.

    Production Capacity: Processes approximately 14.5 million tons of ore annually.

    Infrastructure: Features modern equipment such as 250-mm bit drilling units and 130-ton trucks.

    Corporate Importance: Integral to Bulgaria’s industrial sector, known for its scale and technological advancements.

    Environmental and Economic Impact: Plays a crucial role in local employment and economic stability, ensuring sustainable resource management.