MINEX Forum

Region: Europe

  • Germany Moves to Secure Bolivian Lithium as Serbia’s Jadar Project Stalls

    Germany Moves to Secure Bolivian Lithium as Serbia’s Jadar Project Stalls

    Germany is accelerating efforts to secure long-term lithium supplies from Bolivia while exploring domestic mining options, even as Rio Tinto’s Jadar project in Serbia remains effectively dormant. Ahead of his visit to La Paz, Germany’s Foreign Minister Johann Wadephul emphasized Bolivia’s strategic importance, calling its vast lithium and rare earth reserves “indispensable” for Germany’s energy transition and electric mobility sectors.

    Wadephul is one of the first foreign officials to engage with Bolivia’s newly elected president Rodrigo Paz Pereira, stressing Germany’s readiness to strengthen cooperation and support the country’s economic recovery. Bolivia holds the world’s largest lithium reserves, but previous governments strictly limited foreign participation in mining projects.

    Germany’s intensified outreach comes as competition for lithium and rare earths escalates globally amid China’s market dominance and ongoing US–China trade tensions. Berlin has also indicated it may tap its national raw materials fund to support domestic lithium extraction projects, including those based on geothermal brines.

    Meanwhile, Rio Tinto’s Jadar project in Serbia—once seen as a cornerstone of Europe’s lithium supply strategy—has made little progress despite receiving strategic backing from the EU and Germany in 2024. Political instability in Serbia has slowed development, with officials now estimating that the environmental impact assessment will take at least 18 months to complete. Final approval remains uncertain, leaving Europe’s long-term battery supply ambitions in limbo.

  • Mundoro Expands Strategic Partnership with BHP in Serbia’s Timok Copper District

    Mundoro Expands Strategic Partnership with BHP in Serbia’s Timok Copper District

    Mundoro has strengthened its long-running collaboration with BHP through a new option agreement covering seven exploration licences in Serbia’s Timok Magmatic Complex, one of the world’s premier copper districts. Announced on 13 October, the deal allows BHP to earn 100% ownership of the Central Timok Project over ten years by investing US$35 million in exploration.

    Under the terms, Mundoro will retain a 2% NSR royalty upon full earn-in, while also receiving escalating annual option payments that start at US$323,000. The company will operate the project during the exploration phase and collect annual operator fees.

    CEO Teo Dechev said the expanded partnership reflects the quality of Mundoro’s portfolio and builds on more than a decade of operational experience in the region. She emphasized that combining Mundoro’s local geological expertise with BHP’s global porphyry exploration capabilities will strengthen targeting strategies and improve the chances of making new copper discoveries in eastern Serbia.

    Alongside ongoing work in Serbia and the United States, Mundoro continues to pursue new project-generation opportunities aimed at long-term value creation for shareholders.

  • Public Backlash Grows as Savannah Resources Pushes Ahead with Lithium Plans in Boticas

    Public Backlash Grows as Savannah Resources Pushes Ahead with Lithium Plans in Boticas

    Savannah Resources’ latest update on its lithium mining plans in Boticas has triggered a wave of public backlash, with nearly 500 critical comments appearing under the report published by SIC Notícias. The response reflects rising public awareness and concern over large-scale extractive projects long opposed by environmental groups and local communities.

    Despite holding 27% Portuguese share capital and enjoying backing from the European Commission, Savannah continues to face deep mistrust. Citizens reacting to the news accused authorities of “selling the country in pieces” and appealed to the media to help resist “economic interests” they see as threatening Portugal’s landscape and rural communities.

    Critics also linked Savannah’s project to a broader trend of mega-developments — from lithium and copper mines to vast photovoltaic parks — that they fear will leave Portugal depleted of its natural assets. Activists from the movement opposing the massive Sophia Solar Park echoed the concerns, calling the situation a “calamity” and urging immediate resistance.

    Savannah, however, remains optimistic. The company aims to begin construction at the Barroso mine by late 2026 and start production in 2028. It has also secured the Aldeia concession, where it plans to extract lithium, quartz and feldspar. CEO Emanuel Proença said studies show larger-than-expected lithium resources at Boticas, projecting long-term economic benefits and job creation through on-site processing.

    Planned infrastructure includes a factory, internal roads, water reservoirs, a WWTP, offices and a laboratory — all scheduled to be built in parallel over an 18-month period. Savannah is currently awaiting government approval for a second administrative easement for geotechnical work, already facing strong local opposition.

    While the company continues to detail its engineering, financing and regulatory preparation, public sentiment appears increasingly hostile. Local residents and environmental advocates remain unconvinced and continue to challenge the project at every stage.

  • Rio Tinto Mothballs Controversial $2.95bn Jadar Lithium Project in Serbia

    Rio Tinto Mothballs Controversial $2.95bn Jadar Lithium Project in Serbia

    The Rio Tinto Group has placed its contested $2.95-billion Jadar lithium project in Serbia into “care and maintenance”, according to an internal memo this week. The move, confirmed by a company spokesperson, effectively halts active development on what was slated to be Europe’s largest lithium mine, capable of supplying an estimated 90% of the continent’s current lithium demand.

    Key Takeaways and Context

    The decision is a direct consequence of a “lack of progress in permitting” and sustained fierce local opposition and political volatility in Serbia. CEO Simon Trott’s focus on simplifying the company’s sprawling portfolio and cutting spending also played a role, especially given the project’s high capital allocation with no immediate production in sight.

    What does “Care and Maintenance” mean for Jadar?

    “Care and maintenance” is a mining industry term for a temporary suspension of operations. It means that while the site is not actively being developed, it is being managed to ensure it remains in a safe, stable, and environmentally compliant condition so that operations could be recommenced at a later date if regulatory, economic, or social conditions improve.

    Rio Tinto reiterated that it “remains in Serbia” and continues to view Jadar as an “exceptional quality” deposit with the potential to play a “significant role in the energy transition” of Serbia and Europe. Their immediate focus will be on supporting employees and fulfilling legal obligations as responsible landowners in the Jadar valley.

    🇪🇺 Critical Hit to EU’s Raw Materials Strategy

    The mothballing of Jadar is a significant setback for the European Union’s ambitions for self-sufficiency in key battery metals, as outlined in the Critical Raw Materials Act (CRMA).

    • Strategic Project Loss: Jadar was designated as one of the EU’s few Strategic Projects outside of its borders, specifically for lithium. At its estimated full capacity of 58,000 tonnes of lithium carbonate annually, it was considered a cornerstone for establishing a secure, diversified, and domestic European battery supply chain, reducing reliance on dominant suppliers like China.
    • A Warning on Governance: The project’s failure underscores a critical dilemma for the EU. As Peter Tom Jones highlights, attempts to increase self-sufficiency through projects in third countries must not lead to “uncritical support for autocratic regimes”. The sustained local opposition, environmental concerns, and political instability in Serbia—an EU candidate country—demonstrate that effective governance and a democratization process are as critical as the resource itself.
    • Alternative Lithium Projects: The focus will now intensify on accelerating other European lithium projects, such as those in Portugal, France, and Finland, to meet the CRMA’s targets.

    This situation calls for the EU to demand robust ecological and social standards—potentially through collaboration with third-party verification bodies like the Initiative for Responsible Mining Assurance (IRMA)—to rebuild confidence in such projects in the Western Balkans and beyond.

  • Rio Tinto to Halt Serbia’s Jadar Lithium Project as Costs Rise and Progress Stalls

    Rio Tinto to Halt Serbia’s Jadar Lithium Project as Costs Rise and Progress Stalls

    Rio Tinto will suspend development of its long-delayed Jadar lithium project in Serbia, effectively mothballing what was once slated to become Europe’s largest lithium mine. The decision, first reported by Bloomberg and later confirmed by a company spokesperson, places the nearly $3-billion project into “care and maintenance” as the miner seeks to reduce spending and refocus its lithium strategy.

    The move ends Rio’s two-decade effort to unlock the massive Jadar deposit, discovered in 2004 and estimated to produce 58,000 tonnes of battery-grade lithium carbonate annually. Despite the project’s strategic importance for Europe’s battery supply chain, Jadar has repeatedly stalled amid regulatory hurdles, political uncertainty and strong community opposition. Serbia revoked Rio’s licence in 2022 over environmental concerns and only reinstated it last year, but permitting made little progress.

    In the internal memo cited by Bloomberg, Rio said it could no longer justify the level of investment given the limited advancement of the project. Earlier this year, the company raised Jadar’s cost estimate to nearly $3 billion, citing the need to meet stringent EU environmental and human rights standards.

    The suspension is part of broader cost-cutting measures under new CEO Simon Trott, who has introduced restructuring efforts and workforce reductions across the company. With Jadar shelved, Rio is expected to concentrate its lithium ambitions on South America, including Argentina’s Rincon project and joint ventures in Chile.

    Analysts say the decision underscores Rio’s pivot away from hard-rock assets inherited through its merger with Arcadium, and some expect those projects could be sold. The halt also deals a blow to EU plans to secure domestic lithium supply, as Jadar was projected to cover nearly 90% of Europe’s current demand.

  • Solvay Signs Two US Supply Deals to Boost Rare Earth Processing Capacity in France

    Solvay Signs Two US Supply Deals to Boost Rare Earth Processing Capacity in France

    Chemicals group Solvay has secured two new supply agreements with US magnet manufacturers as it accelerates efforts to scale up rare earth processing at its La Rochelle plant in France. The company, one of the few outside China capable of performing complex rare earth separation, began limited processing in April and has been seeking commercial commitments from industry and government partners to expand production.

    Solvay will supply neodymium, praseodymium, dysprosium and terbium (NdPr and DyTb) to Texas-based Noveon Magnetics under the first agreement. These elements are essential for neodymium-iron-boron (NdFeB) permanent magnets used in electric vehicles, defence systems, consumer electronics, and wind turbines. Noveon began commercial production of sintered NdFeB magnets in 2023.

    A second agreement with Permag covers the supply of samarium oxide, which will be converted into samarium metal by UK-based Less Common Metals. Samarium-based magnets can withstand extremely high temperatures and are widely used in defence and nuclear applications.

    Solvay CEO Philippe Kehren said the initial deliveries involve limited volumes but noted that the La Rochelle facility could rapidly increase output. Production of NdPr and samarium oxide will begin shortly, while DyTb output is expected to start in 2026.

    Kehren also indicated that Solvay is exploring the possibility of building a rare earths processing plant in the United States, where financial support for strategic materials is stronger than in Europe. Company executives said US customers are already willing to sign long-term contracts, while European buyers are still moving more slowly despite recognizing the need for supply chain independence.

  • Austrian Firms Eye Mining, Hydropower, and Tech Investments in Kyrgyzstan

    Austrian Firms Eye Mining, Hydropower, and Tech Investments in Kyrgyzstan

    Austrian companies are exploring new opportunities to participate in Kyrgyzstan’s mining, industrial, hydropower, winter tourism, digitalization, and security technology sectors, the Kyrgyz Ministry of Foreign Affairs announced following high-level meetings in Vienna, Trend reports.

    During the visit, Kyrgyz Deputy Foreign Minister Meder Abakirov held a series of discussions with senior Austrian officials, including Markus Hoffer, Head of the Austria–Central Asia parliamentary friendship group, and members of the Austrian Parliament. Talks centered on strengthening economic and technological cooperation between the two countries, as well as expanding dialogue within the Central Asia+ format.

    Deputy Minister Abakirov also briefed the Austrian side on preparations for Kyrgyzstan’s parliamentary elections scheduled for November 30, 2025, and invited Austria to join as election observers. Hoffer confirmed that Austrian parliamentarians plan to participate as part of an OSCE monitoring mission.

    Economic and Industrial Cooperation

    In a separate meeting with Austrian Deputy Finance Minister Andreas Reichhardt, the two sides reviewed progress on agreements reached during Kyrgyz President Sadyr Japarov’s visit to Austria in November 2024. Key focus areas included finance, natural resources development, and digital transformation initiatives.

    Both parties emphasized Austria’s technological expertise and discussed the involvement of Austrian firms in a range of Kyrgyz projects, including:

    • Mining and industrial production,

    • Hydropower development,

    • Winter tourism and skiing infrastructure,

    • Digital and security technology applications.

    Strategic Dialogue and Regional Role

    Deputy Minister Abakirov also met with experts from the Austrian Institute for European and Security Policy (AIES), where he provided updates on Kyrgyzstan’s reform agenda, current economic and political developments, and the country’s role in regional and global security.

    The discussions were also joined by members of the Kyrgyz-Austrian Friendship Society, underscoring the growing diplomatic and cultural engagement between the two nations.

  • Serbia Zijin Copper Files for Environmental Review of New Kraku Bugaresku–Cerovo Expansion

    Serbia Zijin Copper Files for Environmental Review of New Kraku Bugaresku–Cerovo Expansion

    Serbia Zijin Copper LLC Bor, a subsidiary of Zijin Mining Group, has filed a formal request with Serbia’s Ministry of Environmental Protection to prepare an Environmental Impact Assessment (EIA) for the planned exploitation of the Cementation 2 and Cementation 3 ore bodies at the Kraku Bugaresku–Cerovo Cementation deposit, near Bor.

    The new project marks a continuation of decades-long mining activity in the region, following previous open-pit operations at Cementation 1, according to eKapija. The deposit lies about 13 kilometers from Bor and 2 kilometers from Mali Krivelj, on the ridge of the Kraku Bugaresku hill.

    Project Scope and Development Phases

    The EIA request, prepared by the Faculty of Mining and Geology at the University of Belgrade, builds on earlier approvals from the Ministry of Mining and Energy dating back to 1991 and 2018.

    Mining at Cementation 2 and 3 will proceed in five phases:

    1. Initial extraction in the northern section of Cementation 2.

    2. Expansion southwest.

    3. Opening of the Cementation 3 pit.

    4. Southward expansion of both pits.

    5. Subsequent exploitation of Cementation 4 reserves in the southeast.

    The open-pit Cementation 2 is designed to produce 3.5 million tonnes of ore annually over a seven-year mine life. The project’s estimated net present value (NPV) stands at $117 million in the best-case scenario, positioning it among Serbia’s most significant mining investments in recent years.

    Waste Management and Environmental Measures

    Ore extraction will follow discontinuous mining technology, involving drilling, blasting, loading, and transport to the primary crusher, alongside drainage and auxiliary works.

    A total of 61.1 million tonnes of waste rock is expected to be generated. The existing waste rock dumps from Cementation 1 will be expanded to accommodate material from Cementation 2 and 3, increasing total dump capacity to 61.9 million tonnes.

    The project also requires hydrological modification: the Cerova River, which flows between the open pit and access roads, will be diverted and piped, with a reinforced embankment wall constructed downstream to protect infrastructure.

    Context and Outlook

    The Kraku Bugaresku–Cerovo expansion reinforces Zijin’s long-term presence in Serbia, where the company operates major copper and gold projects. It also reflects the continued development of Serbia’s Bor mining basin into a regional hub for base metals production.

    The forthcoming Environmental Impact Assessment will evaluate the project’s potential effects on water resources, biodiversity, waste management, and local communities, determining the conditions under which exploitation may proceed.

  • Ukraine’s Titanium Comeback: A Strategic Blueprint for Rebuilding Europe’s Titanium Industry

    Ukraine’s Titanium Comeback: A Strategic Blueprint for Rebuilding Europe’s Titanium Industry

    For decades, titanium has been a cornerstone of aerospace, defense, and high-tech manufacturing — prized for its strength, lightness, and resistance to corrosion. Yet behind this strategic metal lies a highly concentrated global industry, where only a handful of nations control production of titanium sponge, the raw metallic form of the element.

    Among them, Ukraine once stood as a global leader, the industrial backbone of the Soviet titanium complex and one of the few countries that mastered the Kroll process — the key technology for sponge production. Ukraine uniquely combined chemical, metallurgical, and scientific expertise, hosting its own Institute of Titanium and advanced hydrometallurgical facilities capable of extracting not only titanium but also zirconium and hafnium.

    Today, that legacy stands disrupted. The Russian invasion has fractured Ukraine’s heavy industry and halted sponge production since 2021. But it also opened a potential path forward: the chance for Ukraine to reclaim a central role in Western titanium supply chains, as the world scrambles to reduce dependence on Russia and China.

    Global Titanium Landscape

    According to the US Geological Survey, global titanium sponge capacity reached 410,000 tons in 2024, with production steady at around 320,000 tons. The market is heavily consolidated:

    • China accounts for nearly 69% of global output, producing mainly industrial-grade sponge for domestic use.

    • Japan, Saudi Arabia, and Kazakhstan supply almost all of the aerospace-grade sponge imported by the United States and the European Union.

    • Russia remains integrated in its own defense value chain, but sanctions have eroded margins and logistics competitiveness.

    • Ukraine, a former key player, has recorded zero production since 2021.

    While China dominates the midstream segment with state-backed clusters, low-cost energy, and full integration, it lacks certification pathways to access Western aerospace markets. By contrast, Japan and Saudi Arabia occupy the high-quality premium segment, selling sponge at $11,000–13,000 per ton, compared with China’s $7,000 average price.

    The United States and EU remain the largest consumers and stockpilers, offering the most stable and profitable end markets — but they are also the most supply-constrained.

    Why Ukraine Matters

    Ukraine is the only European nation with both a high-grade mineral base and the industrial legacy to re-enter titanium sponge production. Its ilmenite and rutile deposits can support chloride-route Kroll processing, the same route used for aerospace-quality sponge.

    Even a 10,000–15,000 tpa facility could anchor a new Titanium Cluster serving Western markets. The cluster could later expand into VAR smelting (Vacuum Arc Remelting) to produce ingots and billets, especially for Ti-6Al-4V alloys used in aviation and defense.

    Strategically, this would fill a critical gap in the non-Chinese, non-Russian titanium segment, providing Europe with a certified domestic source of titanium metal for the first time in decades.

    Key Enablers and Investment Model

    Rebuilding Ukraine’s titanium metallurgy requires three foundational pillars:

    1. Energy Efficiency and Security:
      Titanium sponge production is power-intensive, with electricity costs accounting for 20–30% of total cash costs. Stable, affordable power — ideally renewable or nuclear — is crucial.

    2. Integrated Clustering:
      A vertically integrated industrial cluster combining mining, sponge, smelting, and by-product recovery (zirconium, hafnium, germanium) would minimize costs and maximize value retention.

    3. Strategic Financing:
      A $400–700 million CAPEX is needed for a 10,000–15,000 tpa sponge facility, with an additional $350–400 million for smelting capacity. Financing could come through long-term offtake contracts with Western aerospace and defense OEMs, supported by instruments such as the U.S.–Ukraine Reconstruction Investment Fund.

    Advanced payments and consortium-based equity could unlock broader project financing, while ensuring certification alignment with Western standards.

    Outlook and Feasibility

    Global titanium sponge output is forecast to reach 400,000–440,000 tons by 2035, driven by:

    • Rising aerospace demand (notably from Airbus A320 and Boeing 737 MAX programs).

    • Global rearmament and stockpiling.

    • Ongoing supply diversification efforts by Western governments.

    Within this framework, Ukraine and India are viewed as the two most promising re-entry markets. Ukraine could restore 5,000–10,000 tons per year of production by 2035, scaling to 15,000 tons under favorable conditions.

    Even modest early-stage output would offer strategic returns: it would anchor a European titanium hub, reduce Western supply risk, and cement Ukraine’s industrial role in the critical minerals value chain.

    Conclusion

    Ukraine possesses the minerals, know-how, and geographic advantage to rebuild a titanium industry that serves Europe’s long-term strategic interests.

    If paired with targeted investment, certification partnerships, and energy reforms, Ukraine could re-establish itself as a core supplier of aerospace-grade titanium, bridging the gap between resource-rich producers and high-tech Western consumers.

    Far from a nostalgic revival, this would mark a new strategic chapter — positioning Ukraine not just as a raw material exporter, but as Europe’s titanium powerhouse.

  • Tungsten West Produces First Tungsten Concentrate in Hemerdon Restart Trial

    Tungsten West Produces First Tungsten Concentrate in Hemerdon Restart Trial

    Tungsten West (LON: TUN) has achieved a major milestone in its plans to restart production at the Hemerdon mine in Devon, England, after successfully producing its first tungsten concentrate during an ongoing mineral processing trial.

    The trial is part of a broader plant optimization and technical validation program, designed to test and enhance the performance of key sections of the mine’s processing facility. The company said the data collected will support the planned restart of full-scale operations, expected by late 2026.

    “This progress marks an important milestone in restarting operations at Hemerdon,” said CEO Jeff Court. “It provides confidence to our neighbours, the environment agency, investors and off-takers that we are moving towards production.”

    Court added that the company is maintaining high environmental and operational standards throughout the trial, noting Hemerdon’s growing importance as demand for diversified tungsten supply intensifies globally.

    Strategic Importance

    Hemerdon — historically known as Drakelands mine — is one of the largest tungsten deposits in the world. Located about 7 miles northeast of Plymouth, the site has a long mining history, with operations dating back to 1918 and production during both World Wars.

    After feasibility work in the 1980s, the mine was redeveloped into a modern tungsten and tin operation that ran from 2015 to 2018 under previous ownership. The project’s restart is considered strategically significant for both the UK and Europe, offering a potential secure tungsten supply outside China, which dominates global production.

    Tungsten is a relatively small market — valued at around $5 billion in 2023 — but it plays a critical role in defense and high-tech industries. Its density and hardness make it the material of choice for armour-piercing ammunition, aerospace components, and heavy-duty tools.

    Market Reaction

    Shares in Tungsten West rose 12% following the announcement, closing with a market capitalization of £21.28 million ($28 million).

    The company’s management emphasized that the successful trial demonstrates technical readiness and operational credibility, key steps toward securing financing and offtake agreements for the mine’s full-scale restart.