MINEX Forum

Tag: critical minerals

  • Uzbek Technological Metals Plant and Germany’s LBBW Forge Strategic Financial Partnership

    Uzbek Technological Metals Plant and Germany’s LBBW Forge Strategic Financial Partnership

    In a significant step towards strengthening international industrial ties, Uzbekistan’s Technological Metals Plant (TMK) has held high-level talks with Landesbank Baden-Württemberg (LBBW), one of Germany’s leading financial institutions. The meeting focused on boosting bilateral investment cooperation, exploring advanced financial tools for large-scale industrial projects, and supporting the acquisition of cutting-edge European equipment.

    Aziz Inomkhodjaev, head of LBBW’s representative office in Uzbekistan, underscored the bank’s strong interest in forging a long-term partnership with TMK. He emphasized LBBW’s readiness to provide sustained financial support for Uzbekistan’s industrial modernization, especially in the critical minerals and high-tech manufacturing sectors.

    As a result of the discussions, both sides agreed to establish a framework for systematic collaboration, beginning with the phased rollout of priority industrial projects. The partnership with LBBW is expected to significantly enhance TMK’s ability to access European technologies and investment resources, further integrating Uzbekistan into global critical minerals supply chains.

  • Tin Mining Revival in Cornwall: UK Government Injects £29M into South Crofty Reopening

    Tin Mining Revival in Cornwall: UK Government Injects £29M into South Crofty Reopening

    The UK government has invested £28.6 million to revive Cornwall’s historic South Crofty tin mine, marking a major step in re-establishing domestic production of a critical mineral vital to the clean energy transition. Located near the village of Pool, South Crofty was the last operational tin mine in the UK before its closure in 1998 due to plummeting metal prices and a lack of investment.

    The reopening of the mine, led by Cornish Metals, is expected to create over 1,300 jobs — including more than 300 direct roles and an additional 1,000 across supply chains and regional services such as fabrication and electrical contracting.

    “Tin is essential to electronics, EVs, and renewable energy,” said Don Turvey, CEO of Cornish Metals. “Bringing South Crofty back online helps reduce import dependence and boosts local industry.” The company plans to use local suppliers, helping to stimulate Cornwall’s economy and foster long-term industrial regeneration.

    The announcement was made during a visit to Cornwall by Chancellor Rachel Reeves, who emphasized the mine’s role in unlocking regional growth. “Cornwall has been left behind for too long. This project is about creating skilled, year-round jobs and putting money into local families’ pockets,” she stated.

    The investment, part of the UK’s national wealth fund and industrial strategy, aims to promote growth in strategic industries like clean energy and critical minerals. Ian Brown of the national wealth fund praised the mine’s progress and potential to attract further private investment.

    Tin prices have nearly doubled since 2016, reflecting rising global demand from sectors including electric vehicles and solar panel manufacturing. Originally acquired in 2016 by Vancouver-based Strongbow Exploration—now Cornish Metals—the South Crofty project has gained momentum with its AIM listing and rising investor confidence. Cornish Metals’ share price has climbed 28% over the past year, pushing its market valuation to £92 million.

    The reopening of South Crofty could signify a new era for British tin mining, helping secure mineral independence while delivering a boost to regional jobs and sustainability goals.

  • Europe Eyes Low-Risk Rare Earth Deposits to Strengthen Green Energy Supply Chain

    Europe Eyes Low-Risk Rare Earth Deposits to Strengthen Green Energy Supply Chain

    Europe’s push toward a greener future is facing a critical supply chain dilemma: the continent’s heavy dependence on imported Rare Earth Elements (REEs). These materials are essential for technologies like electric vehicles and wind turbines, yet the global REE market remains largely controlled by China — a geopolitical and economic risk that has sparked alarm across the EU.

    To mitigate this, the EU-funded REEsilience project is charting a new course. Launched in 2022, the initiative has mapped 149 global REE deposits, evaluating them for both geological quality and ESG (Environmental, Social, Governance) risks. Its goal: to help Europe identify secure and sustainable alternatives to Chinese supply.

    “Just a handful of deposits, if chosen wisely, could secure the EU’s rare earth supply,” said Prof. Dr. Carlo Burkhardt, REEsilience coordinator. Norway’s Fen complex and Greenland’s REE resources were flagged as top prospects, offering strong political ties and low ESG risk alongside high-quality ore. Other low-risk candidates include Sweden, Finland, Canada, and Australia.

    By contrast, REE sources in parts of Southeast Asia, Central Africa, and Brazil were found to carry high environmental or social risk — making them less viable options for Europe’s sustainability ambitions.

    Beyond mining, the REEsilience project is also modelling future supply chain scenarios, factoring in price volatility, recycling efforts, and digitalisation. TU Delft’s Dr.ir. Willem Auping explained that simulation modelling is being used to explore “strategic resilience measures” such as recycling and extending product lifecycles.

    The initiative also focuses on localising production — including magnet manufacturing automation and ICT integration — and building a skilled workforce to drive innovation. With final results expected by June 2026, the project aims to pave the way for a robust, circular rare earth supply chain that aligns with Europe’s climate and security goals.

  • Human Rights and Environmental Abuse Cases Triple at Mines Across Eastern Europe and Central Asia

    Human Rights and Environmental Abuse Cases Triple at Mines Across Eastern Europe and Central Asia

    Allegations of human rights and environmental violations linked to mining operations across Eastern Europe and Central Asia nearly tripled in 2024, according to a new report by the Business and Human Rights Resource Centre (BHRRC). The UK-based non-profit recorded 270 incidents tied to mining, smelting, and refining operations across 13 countries in the region, up from just 92 cases the previous year.

    The findings raise serious concerns about the human and environmental cost of securing critical minerals for the green energy transition. Russia led the region in reported abuses, accounting for 105 cases, or 39% of the total, followed by Ukraine (48), Kazakhstan (43), Serbia (31), and Bosnia and Herzegovina and Georgia (10 each). In several countries, including Serbia and Kazakhstan, the 2024 tally surpassed the combined number of cases from the previous five years.

    Of all the minerals tracked, copper was linked to the most abuse cases — 77 in total, representing nearly 30% of the regional total and spread across eight countries. The top human rights concern was occupational health and safety violations, making up 115 of the 270 allegations. Workplace fatalities (47) and long-term personal health issues (30) also featured prominently. Russia and Kazakhstan together accounted for 37 out of 47 reported deaths.

    Environmental harms were also widespread. Violations of environmental safety standards were documented in 43 cases, while air pollution, soil contamination, and water pollution each appeared in about 20–27% of community-level complaints.

    One of the most frequently named companies was United Company RUSAL, owned by sanctioned Russian oligarch Oleg Deripaska, with 31 abuse allegations linked to its operations. Georgia’s Chiatura mines were also cited in 10 cases.

    The BHRRC warns that the rush to secure essential materials for clean energy must not come at the expense of human rights and environmental protection. “We must not choose between climate progress and protection of people and ecosystems,” said BHRRC researcher and co-author Ella Skybenko.

  • Kazakhstan Lifts Export Duty on Gallium to Boost Strategic Metal Production

    Kazakhstan Lifts Export Duty on Gallium to Boost Strategic Metal Production

    Kazakhstan’s government has officially lifted a 10% export duty on gallium, a strategic move aimed at boosting domestic production and strengthening the country’s role in the global supply chain for high-tech metals. The decision was confirmed by the Prime Minister’s press service following a meeting of the interdepartmental commission on foreign trade policy, chaired by Deputy Prime Minister Serik Zhumangarin.

    Officials highlighted that although Kazakhstan has not recently produced gallium, the global demand remains steady due to its essential role in electronics, semiconductors, and defense industries. Eurasian Resources Group (ERG) plans to capitalize on this opportunity, with exports to Europe expected to begin in 2026.

    ERG’s production will be sourced from red mud waste at the Pavlodar Aluminum Plant. The company initially targets 12 tons of gallium per year, with plans to scale up to 15 tons annually — positioning ERG as the world’s second-largest gallium producer behind China.

    In parallel, Kazakhstan has imposed a temporary export ban on non-ferrous metal blanks and ingots, including raw copper, aluminum billets, and lead ingots, effective until December 31, 2025. This measure is designed to support domestic processing and ensure strategic raw materials remain within the country.

    Gallium prices currently hover around $237 per kilogram, meaning 12 tons of exports could generate roughly $2.8 million. The government believes the policy shift will enhance Kazakhstan’s economic diversification and export revenues, while supporting critical minerals cooperation with partners such as the United States.

  • China’s Smelter Expansion Cripples Western Metal Processors as Critical Minerals Crisis Deepens

    China’s Smelter Expansion Cripples Western Metal Processors as Critical Minerals Crisis Deepens

    Global supply chains are already buckling under China’s rare earth export controls — but an even larger threat is brewing in the base metals sector, where Western smelters are being pushed to the brink by China’s overcapacity and collapsing processing fees.

    Copper smelters in Namibia and the Philippines have recently shuttered, while Glencore warns its Mount Isa plant in Australia is no longer viable. The crisis has prompted urgent calls to save Nyrstar’s zinc and lead smelters and Rio Tinto’s Tomago aluminum operation.

    At the heart of the issue is China’s rapid smelting expansion, which is saturating the global market. Chinese refiners recently agreed to process copper concentrates from Chile at zero fees — a historic inversion where smelters typically charge miners. In some cases, smelters are even paying miners, wiping out margins and driving global treatment charges to record lows.

    Zinc tells a similar story: despite booming mine output, spot smelter fees are struggling to rebound after turning negative last year. China is flooding the market with processed metals while continuing to expand capacity, including building new smelters in Indonesia, which now supplies half the world’s nickel.

    While Chinese smelters benefit from state support, vertical integration, and cheap electricity, Western smelters are being crushed by high energy prices and policy gaps. In Europe, aluminum and zinc plant closures followed the 2022 energy crisis. Meanwhile, the U.S. and Australia face tough decisions over keeping critical facilities afloat.

    Western governments are finally taking notice. The EU is promoting power purchase agreements and faster grid access for energy-intensive sectors. The U.S. and allies are rethinking how to protect their strategic midstream assets, which not only refine base metals but also recover vital by-products like gallium, tellurium, and antimony — now restricted by China.

    Without urgent support, experts warn that China could soon extend its dominance from rare earths to base metals, turning smelters into the next front in the geopolitical resource war.

  • EU Plans Emergency Stockpiles of Critical Minerals Amid Rising Geopolitical Risks

    EU Plans Emergency Stockpiles of Critical Minerals Amid Rising Geopolitical Risks

    The European Commission is preparing to launch a sweeping initiative to build emergency stockpiles of critical minerals, in a move to safeguard the bloc’s supply chains from mounting geopolitical and cyber threats, according to a draft document seen by the Financial Times.

    The proposal advises EU member states to accelerate stockpiling of rare earth minerals, permanent magnets, and other vital components used in energy, defence, and communications infrastructure. The draft highlights a “rapidly deteriorating risk landscape” marked by rising geopolitical tensions, cyberattacks, and climate-related disruptions.

    “Europe must boost its resilience,” the document reads, urging coordination on backup stocks of not just industrial materials, but also food, medicine, cable repair modules, and nuclear fuel. The Commission warns that underwater communication systems and gas pipelines remain particularly vulnerable to sabotage.

    This marks a notable policy shift in Brussels, which has historically focused on free market mechanisms to ensure supply. The war in Ukraine and ongoing tensions with Russia have exposed serious vulnerabilities in Europe’s strategic reserves. Last month, Germany’s chief of defence warned that Russia could potentially target an EU member within four years, intensifying calls for preparedness.

    The Commission is set to publish the finalized strategy next week. It follows March’s announcement of the EU Preparedness Union Strategy, which encouraged citizens to stock up on essentials and urged governments to build national reserves of critical goods.

    The urgency is also driven by what the document calls “limited common understanding” among member states about what essential goods are needed to respond to major crises.

  • Russian Forces Seize Major Ukrainian Lithium Deposit in Donetsk, Boosting Strategic Leverage

    Russian Forces Seize Major Ukrainian Lithium Deposit in Donetsk, Boosting Strategic Leverage

    Russian troops have taken control of one of Europe’s largest lithium deposits, located near the village of Shevchenko in Ukraine’s contested Donetsk region. The site, prized for its strategic importance and lithium reserves essential to aerospace and electric vehicle production, marks a significant gain for Russia—both economically and geopolitically.

    The capture further tightens Moscow’s grip on the Donbas, an area increasingly seen as destined to fall under long-term Russian control. With lithium classified as a critical material for clean energy and military technologies, the move effectively strips Ukraine of a major economic asset and boosts Russia’s leverage over global supply chains.

    Experts say this development also undercuts Ukraine’s long-term recovery prospects. The Washington Post recently noted that any “positive impact on the economy” for Ukraine in 2025 is now off the table, with delays in a ceasefire and fading Western support fueling growing economic uncertainty.

    The lithium site was reportedly one of several resource-rich areas considered vital by Kyiv and its Western backers. Washington had shown keen interest in Ukraine’s mineral wealth as part of its broader aid and investment strategy. According to former U.S. intelligence official Rod Schoonover, control of such deposits “undoubtedly” ranks among Russia’s core motivations in the region.

    The seizure of the lithium reserves comes as Ukraine reels from devastating losses in the April offensive in Russia’s Kursk region. Russian forces, reportedly bolstered by North Korean support, have since redirected attention to the Donbas frontlines—making steady gains amid mounting Ukrainian attrition.

    This signals a likely strategic shift by Moscow, which may now prioritize capturing other key natural resource sites in eastern and southern Ukraine. With economic and military support from the West showing signs of strain, Ukraine’s ability to resist such advances could be further tested in the months ahead.

  • Kazakhstan to Become World’s Second-Largest Gallium Producer as ERG Commits $20M Investment

    Kazakhstan to Become World’s Second-Largest Gallium Producer as ERG Commits $20M Investment

    Eurasian Resources Group (ERG) announced plans to invest $20 million into facilities for producing gallium in Kazakhstan, marking the country’s entry into the global gallium supply chain. Starting in 2026, ERG will begin extracting the critical mineral from bauxite ore processed for alumina, with initial production targets set at up to 15 metric tons per year.

    Gallium, essential in the production of semiconductors, radar systems, and missile guidance technologies, is listed as a critical mineral by both the United States and the European Union. ERG’s initiative comes at a time of growing concern over China’s dominance in the gallium market, which currently accounts for the vast majority of the world’s 760-ton annual output, according to the US Geological Survey.

    “ERG plans to become a significant player in the global market for gallium, starting production in 2026 to supply OECD countries,” said ERG CEO Shukhrat Ibragimov. The move could make Kazakhstan the world’s second-largest gallium producer, directly challenging China’s supply monopoly.

    China imposed a ban on gallium exports to the U.S. in December 2024, following a broader crackdown by Washington on Beijing’s chip industry. This followed a series of tighter export controls and licensing regimes applied to gallium, germanium, and antimony over the prior 18 months, raising alarm bells among Western nations dependent on Chinese supply.

    ERG’s investment also reflects Kazakhstan’s rising profile as a key critical mineral supplier. With its bauxite-processing infrastructure already in place, the country is well positioned to enter strategic supply chains for electronics, defence, and advanced manufacturing across Europe and North America.

  • Greenland Approves 30-Year Molybdenum Mining Project to Supply 25% of EU Demand

    Greenland Approves 30-Year Molybdenum Mining Project to Supply 25% of EU Demand

    Greenland has granted a 30-year permit to Toronto-listed Greenland Resources for the development of the Malmbjerg molybdenum mine, marking a major step forward for EU-backed efforts to secure critical raw materials. The project, located in eastern Greenland, is expected to produce an average of 32.8 million pounds of concentrated molybdenum annually—enough to meet around a quarter of Europe’s demand for the metal.

    Molybdenum is used in aerospace, clean energy, and defense due to its strength and resistance to heat and corrosion. With China controlling around 40% of global molybdenum production and recently tightening export controls in response to U.S. tariffs, the project carries geopolitical significance.

    The Malmbjerg mine is backed by the European Raw Materials Alliance and has already secured supply agreements with major European firms, including Finland’s Outokumpu and Italy’s Cogne Acciai Speciali.

    Greenland’s mining sector is seeing increased momentum. Just last month, the country issued another exploitation licence to a Danish-French consortium, and the EU included a graphite project in Greenland among 13 new strategic initiatives aimed at bolstering mineral supply.

    Though development in Greenland has historically been slowed by regulatory hurdles and limited financing, interest from both the U.S. and EU is accelerating. The U.S. Export-Import Bank recently confirmed that a Greenland-based rare earth mine met the initial criteria for a $120 million loan.