MINEX Forum

Tag: critical minerals

  • Trump Administration Weighs $50 Million Equity Stake in Greenland Rare Earths Developer Critical Metals

    Trump Administration Weighs $50 Million Equity Stake in Greenland Rare Earths Developer Critical Metals

    The Trump administration is in talks to acquire an equity stake in Critical Metals Corp, giving Washington a direct interest in Greenland’s Tanbreez rare earth project — one of the world’s largest undeveloped deposits, four people familiar with the matter told Reuters.

    If completed, the deal would mark a significant political and strategic move for the United States, deepening its role in Greenland’s mineral sector — the same Arctic territory former President Donald Trump once proposed purchasing outright.

    Critical Metals, a New York–based company, acquired the Tanbreez project in 2024 for $5 million in cash and $211 million in stock, after the Biden administration successfully pushed for the sale to a Western buyer rather than a Chinese firm.

    The company has since applied for a $50 million grant under the Defense Production Act, a Cold War-era program that supports domestic production of materials essential for national security. According to three sources, the administration has begun discussions about converting that grant into an equity stake worth roughly 8%, although negotiations remain preliminary.

    A senior Trump administration official told Reuters that “hundreds of companies” had approached Washington seeking investment, and that “there is absolutely nothing close with this company at this time.”

    Critical Metals did not respond to requests for comment. Greenland, while self-governing, remains part of Denmark, whose embassy in Washington also declined to comment.

    The Tanbreez deposit, located in southern Greenland, is considered a cornerstone for Western efforts to diversify rare earth supply chains away from China, which currently dominates more than 80% of global production and processing. The project also hosts valuable gallium and tantalum, both of which are under Chinese export restrictions.

    Bringing the mine to commercial operation is expected to cost $290 million, with production forecast at 85,000 tonnes of rare earth concentrate per year by 2026. The U.S. Export-Import Bank (EXIM) is separately considering a $120 million loan to support mine development, according to sources.

    The potential U.S. investment follows other government-backed moves in the sector, including stakes in Lithium Americas and MP Materials, underscoring Washington’s strategy to secure critical minerals for electric vehicles, defense systems, and renewable technologies.

    Even before Trump’s renewed engagement with Greenland, the U.S. had maintained a longstanding presence on the island — including one of its largest Air Force bases — and successive administrations have sought to increase economic and strategic cooperation.

    Analysts note that the harsh Arctic environment and Greenland’s slow regulatory processes remain challenges to large-scale mining. However, the project could play a central role in the West’s efforts to counter China’s dominance in the rare earth supply chain.

  • Armenia Reaffirms Commitment to Mining Strategy Despite Challenges

    Armenia Reaffirms Commitment to Mining Strategy Despite Challenges

    Armenia’s mining development strategy is moving forward despite certain challenges, with the government determined to ensure its full implementation, Deputy Minister of Territorial Administration and Infrastructure Asatur Vardanyan said at the Mining Armenia Forum 2025 on October 3.

    Vardanyan highlighted that the strategy is supported by a strong platform involving both private sector representatives and scientific institutions. Key elements include the launch of a comprehensive digitalization process — not merely procedural but based on in-depth analysis and fieldwork to guide policymaking. By 2027, full digitalization of the permitting system is expected, with improvements aimed at increasing transparency and reducing approval times.

    The deputy minister also announced plans to establish a national geological service. Armenia is working closely with the EU and the United States, building on agreements signed in August 2025, to create a new platform that will strengthen governance and enable the development of a unified mining policy.

    He stressed the importance of companies adopting international mineral reporting standards to enhance investor confidence and predictability. The ultimate goal, he said, is to create a mining industry that operates more efficiently and on a stronger economic footing, drawing on Armenia’s accumulated expertise and international practices.

    Vardanyan underlined the need for more extensive and higher-quality geological exploration to secure future reserves, particularly of critical minerals. With rising global demand and metal prices, Armenia has been receiving growing interest from international organizations and foreign investors. The new geological service will also commission state-funded regional exploration to open new deposits.

  • U.K. Nears Critical Minerals Partnership with Greenland Amid Global Supply Chain Rivalry

    U.K. Nears Critical Minerals Partnership with Greenland Amid Global Supply Chain Rivalry

    Britain is preparing to sign a landmark critical minerals partnership with Greenland, a move aimed at securing access to the Arctic island’s vast reserves of rare earths and reducing reliance on Chinese supply chains. Sources familiar with the talks told POLITICO that the agreement could be announced during Prime Minister Keir Starmer’s visit to Copenhagen this week for the European Political Community summit.

    Greenland, a self-ruling Danish territory, hosts 40 of the 50 minerals the United States deems essential to national security, including uranium and graphite. These resources are increasingly vital for global supply chains powering electric vehicles, renewable energy, and advanced technologies.

    The U.K. Department for Business and Trade stressed that securing critical minerals is central to Britain’s industrial strategy, growth, and clean energy transition. Trade Minister Chris Bryant hinted earlier this week that new trade talks were imminent, without naming the country involved.

    Analysts caution that while Greenland’s mineral wealth presents an opportunity, the financial and environmental costs of extraction remain high. Environmental standards and indigenous community participation will be key to securing local support. Greenland has previously revoked mining licenses over radioactive waste concerns, underscoring the political and ecological sensitivities.

    The deal also carries political implications. Greenland’s revenues from mining could reduce its reliance on Denmark’s annual block grant, potentially strengthening its independence. However, experts warn that London must coordinate with Denmark, Nordic states, and the EU to avoid tensions, particularly as Brussels already signed a minerals partnership with Greenland in 2023.

    Even if secured, extraction is only part of the challenge. Most refining of rare earths and critical minerals still occurs in China. Without parallel investment in processing capacity elsewhere, Europe and the U.K. risk remaining tied to Chinese supply chains despite new mining agreements.

  • President of Uzbekistan discusses critical minerals partnership with US firms

    President of Uzbekistan discusses critical minerals partnership with US firms

    On 22 September 2025, during his visit to New York, President Shavkat Mirziyoyev of Uzbekistan held a meeting with the heads of major American companies to advance cooperation in the field of critical minerals.

    The meeting focused on reviewing practical aspects of further expanding mutually beneficial cooperation between Uzbekistan and these leading US companies and organisations. The discussions centered on the development of a joint working group and the adoption of a “roadmap” to accelerate projects and prepare new proposals.

    Traxys, one of the world’s leading suppliers of critical raw materials and minerals, has a portfolio of promising projects worth $1 billion in the field of geological exploration and development of deposits. The company has agreed to introduce advanced technologies and expertise in the extraction, processing, and creation of sustainable supply chains of critical minerals.

    The Colorado School of Mines, a leading engineering university for training specialists in the mining industry, is working with Uzbekistan to create a Competence center at the University of Geological Sciences. FLSmidth, engaged in the development of technologies and equipment for the mining and processing industry, is actively involved in the development of the copper industry in Uzbekistan.

    McKinsey, a leading company in the field of management, consulting, and strategic development of enterprises in the mining industry, has developed a strategy with Uzbekistan for the development of the resource base, capacity expansion, and deep transformation of the country’s mining sector. Go Green Partners, specializing in investments in the extraction and processing of critical minerals for “green” energy, plans to conduct geological exploration in promising areas.

    The total capitalization of these companies exceeds $20 billion, demonstrating the significant potential for cooperation between Uzbekistan and these leading American companies. The meeting marked an important step forward in developing a strong partnership between the two nations, with the goal of accelerating projects and preparing new proposals in the sphere of critical minerals.

  • Uzbekistan and US Expand Critical Minerals Cooperation with $1 Billion Investment

    Uzbekistan and US Expand Critical Minerals Cooperation with $1 Billion Investment

    During his visit to the United States, President of Uzbekistan Shavkat Mirziyoyev reached agreements to establish a joint working group aimed at accelerating existing projects and developing new initiatives in the field of critical minerals, according to the presidential press service.

    A key partner will be Traxys, one of the world’s largest suppliers of raw materials. The parties signed an agreement for exploration and joint development of deposits, with a total investment volume estimated at $1 billion. The deal also includes the transfer of advanced technologies and expertise in mining, processing, and ensuring stable supplies of critical raw materials.

    Plans are also underway to establish a Competence Center at the University of Geological Sciences in Tashkent, in cooperation with the Colorado School of Mines, to train world-class specialists for Uzbekistan’s mining sector.

    In addition, McKinsey has developed a comprehensive strategy for Uzbekistan covering subsoil studies, expansion of the mineral resource base, and deep transformation of the mining industry. Go Green Partners will carry out exploration works at prospective sites.

    Several Uzbek-American project agreements were also signed, including:

    • a joint venture between Technopark LLC and FLSmidth to produce mineral processing equipment;

    • geological exploration on new sites with Cove Capital;

    • cooperation between Yangi Kon LLC and SLB on a drilling project in the Ustyurt oil and gas region.

  • US Delegation Explores Ukrainian Titanium and Zirconium Mines Under New Minerals Pact

    US Delegation Explores Ukrainian Titanium and Zirconium Mines Under New Minerals Pact

    A United States delegation has visited central Ukraine to assess titanium, zirconium, and hafnium mining opportunities, marking the first steps in a new minerals agreement between Kyiv and Washington.

    Representatives from the US International Development Finance Corporation (DFC), accompanied by Ukraine’s Minister of Economy, Environment and Agriculture Oleksiy Sobolev, toured the Birzulivskiy mining and processing complex and the Likarivske deposit in the Kirovohrad region. Both sites are operated by Ukrainian titanium producer Velta, which has mined in the area for more than 14 years.

    Velta’s expansion plans include producing zircon and hafnium—metals essential to the nuclear industry—in addition to titanium, while also generating by-products such as clay and sand for construction. “Our ability to provide an alternative source of critical raw materials outside of China is important to our American partners, while our additional products will be essential for the reconstruction of Ukraine,” said Velta director Andriy Brodsky.

    Titanium is one of the 34 critical raw materials on the European Union’s list, with applications across defense, aerospace, and technology sectors. Its global market value is forecast to exceed $53 billion by 2034, with demand rising amid supply disruptions caused by Russia’s war in Ukraine and Western sanctions. Before the conflict, Russia supplied nearly one-third of US titanium by-products, a gap Washington now seeks to fill through new partnerships.

    The April 30 minerals agreement grants the US preferential access to Ukrainian investment projects spanning natural resources, infrastructure, and defense programs. The site visits by the DFC and Ukrainian officials mark an early move to accelerate joint ventures under this framework.

  • Kazakhstan’s Critical Minerals in Focus at the BKS webinar

    Kazakhstan’s Critical Minerals in Focus at the BKS webinar

    Kazakhstan’s ambition to transform itself into a linchpin of the global critical minerals supply was in sharp focus at the British-Kazakh Society’s (BKS) latest webinar, “Critical Minerals – A Closer Look at Kazakhstan and the Resource Base.”

    Hosted online on 16 September, the event brought together government representatives, leading analysts, and industry insiders to scrutinise the nation’s mineral endowment, discuss its strategy for long-term sustainability, and evaluate opportunities for international partnership and investment.

    Geological Promise and Policy Drive
    In his welcome address, Yerlan Zeineshev, Economic Counsellor at the Kazakhstan Embassy in the UK, underscored the nation’s geological riches—including rare earths, lithium, copper, uranium, titanium, and vanadium—and signalled Kazakhstan’s determination to become “a key supplier for global critical mineral needs.” The country already produces 17 of the 34 critical minerals on the UK’s essential list, with potential to expand further given the right investment and technology.

    Mr Zeineshev highlighted March 2024’s UK-Kazakhstan critical minerals roadmap, emphasising mutual aims for research, private investment, and technology transfer. He pledged continued reform to ensure an open, investor-friendly environment—citing adoption of international best practice in mining codes, long-term investment agreements, and digitalisation of geological data.

    Supply Chain Resilience and Global Partnerships
    Speakers and panellists closely examined how Kazakhstan’s neutral geopolitical stance and its position on the Trans-Caspian International Transport Route position the country as a reliable partner for nations seeking to diversify supply chains. As Enzo Grazella, Senior Analyst at the Critical Minerals Association, noted, this offers both Europe and the UK an alternative source to mitigate risk and reduce overreliance on a handful of global producers.

    The UK government’s updated critical minerals strategy and increased focus on supply chain security were cited as drivers for stepped-up bilateral engagement, particularly in mining, refining, recycling, and advanced manufacturing. Initiatives backed by UK export finance, the European Bank for Reconstruction and Development (EBRD), and local reforms are fostering a more attractive investment climate.

    Resource Development and Value Addition
    Arkhat Kurmanbekov, Deputy Director General of Kazakhstan’s National Center for Technology Foresight, outlined the scale of Kazakhstan’s geological survey initiatives, with record levels of exploration funding and ambitious targets to increase the area surveyed to over 2.2 million km² by 2026. The nation aims not only to expand extraction but also to move up the value chain through domestic processing, production of battery materials, heat-resistant alloys, semiconductor materials, and recycling technologies. Industry success stories—such as providing titanium to Boeing and Airbus, or pioneering full-cycle beryllium plants—underline local expertise.

    Market Dynamics, Price Volatility, and Sustainability Challenges
    Caroline Messecar, Strategic Markets Editor at Fastmarkets Metals and Mining, discussed acute market vulnerability arising from concentrated global production—particularly for rare earth magnets vital to electric vehicles and wind turbines. China commands up to 89% of global magnet supply, and recent export controls have forced international markets to scramble for alternative sources, underscoring the strategic importance of new suppliers like Kazakhstan.

    The panel noted that establishing downstream industries (such as magnet manufacturing) requires more than raw materials: it needs multidisciplinary technical skills, transparent and sustainable production, and robust ESG standards. Both Kazakh and UK speakers reaffirmed their commitments to high environmental and social standards, clarifying that responsible development can coexist with commercial viability.

    Whatch the webinar recoding
    Video provided for the MINEX Forum readers by the British-Kazakh Society

  • Ukraine and US Advance Minerals Deal with Site Visits for Investment Projects

    Ukraine and US Advance Minerals Deal with Site Visits for Investment Projects

    Ukrainian officials and representatives from the US International Development Finance Corporation have begun site visits to identify investment opportunities under a bilateral minerals deal signed in April, Economy Minister Oleksiy Sobolev confirmed on Saturday.

    The agreement, strongly promoted by US President Donald Trump, grants the United States preferential access to new Ukrainian mineral projects in return for investment. Kyiv views the deal as a mechanism to attract US financing for economic recovery and infrastructure rebuilding, while also shoring up continued US defence support amid the ongoing war with Russia.

    Sobolev told a conference in Kyiv, attended by Ukrainian, US, and European officials, that the government aimed to identify three pilot investment projects within the next 18 months. “Right now, there are site visits … from the US, and we are going to the regions tomorrow with them to look for an investment pipeline,” he said.

    Under the terms of the agreement, half of Ukraine’s revenues from new mineral extraction will be directed into a joint investment fund, with profits shared between Kyiv and Washington. Beyond minerals, the fund is also expected to invest in Ukraine’s energy sector and infrastructure.

    Ukraine has reserves of 22 of the 34 minerals deemed critical by the European Union for industries such as defence, green energy, and high-tech manufacturing. These include ferro alloys for steelmaking, non-ferrous metals for construction, as well as rare earths and precious metals.

    The initiative underscores Trump’s view that the US should gain direct economic benefits in exchange for its role as Ukraine’s largest military donor since Russia’s full-scale invasion in 2022.

  • Ukraine Eyes Mining Waste as Strategic Source of Critical Materials

    Ukraine Eyes Mining Waste as Strategic Source of Critical Materials

    Ukraine plans to broaden its investment strategy for critical raw materials under the American-Ukrainian Reconstruction Investment Fund (AUIF), considering not only greenfield deposits but also alternative sources such as mining waste and tailings, Deputy Minister of Economy, Environment and Agriculture Yehor Perelyhin has said.

    In a column for Interfax-Ukraine, Perelyhin described decades-old mining and metallurgical waste as a potential “new raw material base” capable of supplying metals essential for batteries, electronics, aviation, and defense — while also addressing environmental damage from legacy industrial activity.

    He outlined six priority areas for exploration. The first involves tailings dams from mineral sands (titanium and monazite), where rutile, ilmenite, and zircon remain. Advanced processing and hydrometallurgy could unlock zirconium, hafnium, and scandium — vital for ceramics, optics, and aerospace.

    A second area is “red sludge” and slags from titanium dioxide pigment and alumina plants, which contain scandium alongside titanium, iron, and aluminum. Perelyhin noted that existing technologies allow scandium extraction modules to be integrated directly into production lines, reducing costs and accelerating output.

    Other promising sources include:

    • Phosphogypsum and phosphate waste, where rare earth recovery can be paired with gypsum production for construction.

    • Thermal power plant ash and coal dumps, which hold rare earths, gallium, scandium, aluminum, and germanium.

    • Tailings of iron, copper, and nickel ores, where cobalt, tellurium, germanium, vanadium, tungsten, and even gold and silver may be recovered with modern leaching methods.

    • Waste from uranium mining and processing, which contains vanadium, scandium, molybdenum, selenium, heavy rare earth elements, and yttrium, representing both strategic value and urgent environmental remediation needs.

    Perelyhin emphasized that this “brownfield” approach offers quicker access to marketable materials with lower capital investment than new mines, aligning with both Ukraine’s industrial strategy and global demand for critical minerals.

  • Kazakhstan and DR Congo Sign Mining and Geology Cooperation Agreements

    Kazakhstan and DR Congo Sign Mining and Geology Cooperation Agreements

    Kazakhstan’s President Kassym-Jomart Tokayev and Democratic Republic of Congo (DRC) President Félix Tshisekedi have held talks, according to Kapital.kz citing the Akorda press service. The two leaders oversaw the signing of interagency agreements covering diplomatic consultations as well as cooperation in mining and geology.

    Both nations hold vast natural resources and see potential in becoming reliable partners for mutually beneficial projects. The DRC plays a central role in global supply chains of critical minerals, accounting for approximately 76% of the world’s cobalt production, 14% of copper, 8.3% of tin, 42% of tantalum, and 40% of coltan, alongside deposits of other strategic metals essential to high-tech industries.

    Kazakhstan’s Eurasian Resources Group (ERG) already operates successfully in the DRC with the support of Congolese authorities. The new agreements are expected to accelerate the development of bilateral ties in the resource sector.

    In addition, the two presidents agreed to hold regular consultations and maintain close working contacts between their foreign ministries to ensure steady progress in cooperation.