MINEX Forum

Tag: critical minerals

  • Turkey’s Onur Group to Begin Mining Major Ukrainian Mineral Deposits in 2026

    Turkey’s Onur Group to Begin Mining Major Ukrainian Mineral Deposits in 2026

    Ukraine has granted Turkish conglomerate Onur Group five special permits to mine some of the country’s most valuable mineral deposits, including graphite, gold, and kaolin. The mining operations, scheduled to begin in 2026, are focused on high-potential regions such as Dnipropetrovsk, Kirovograd, and Khmelnytsky.

    Among the five sites, the graphite deposit in the Khmelnytsky region stands out. The Gorodnyavskoye deposit alone holds nearly 143 million tonnes of ore with a graphite carbon content of 5.14%. Experts estimate the deposit could support extraction for over a century. The European Union has recognized its strategic value, listing it among key critical mineral projects vital for Europe’s industrial supply chains.

    However, not all prospects proved economically viable. Onur Group has pulled back from plans to develop a gold site in Dnipropetrovsk after testing revealed lower-than-expected yields of just 1.4 grams per tonne—significantly below the 4.5 grams originally projected.

    While four sites remain in early stages due to safety and logistical issues—partly owing to Ukraine’s ongoing conflict—the graphite project is moving forward. Mining at Gorodnyavskoye is expected to begin in 2026.

    The deal underscores Turkey’s growing interest in critical mineral supply chains. Rare earths and graphite are essential for high-tech manufacturing, energy storage, and defense. With global supply chain pressures intensifying, this venture positions Turkey as a key player while also highlighting Ukraine’s mineral wealth as a geopolitical asset.

  • Tungsten West’s Hemerdon Mine Gains EU Strategic Status, Eyes 2026 Restart

    Tungsten West’s Hemerdon Mine Gains EU Strategic Status, Eyes 2026 Restart

    Tungsten West has confirmed that its Hemerdon mine near Plymouth, Devon, has been officially designated a strategic project under the European Union’s Critical Raw Materials strategy. The recognition is a significant milestone for the site, which hosts the world’s second-largest tungsten deposit and has the potential to meet up to 20% of global demand for the critical mineral.

    CEO Jeff Court stated that the mine is “fully permitted and shovel ready,” with production potentially restarting by the end of 2026. However, to move forward, the company still needs to raise £69 million ($93 million) in private investment.

    Originally operated by Australia’s Wolf Minerals Ltd., the mine fell into administration in 2018. Tungsten West acquired the site in 2019 and began interim operations in 2023.

    Tungsten is highly valued for its extreme heat resistance and strength, making it indispensable in the production of ammunition, aerospace components, electronics, and cutting tools. Despite its importance, the Hemerdon project has so far received no UK government support—unlike lithium and tin initiatives in Cornwall that have benefited from significant funding.

    Court highlighted the mine’s potential benefits for the UK economy, calling for more equitable government backing: “It’s great we have interest from the US and EU, but this is a UK project. Jobs, money into the economy, regional development—it’s all here.”

    A spokesperson for the Department for Business and Trade noted that the UK’s upcoming Critical Minerals Strategy will address production improvements and financial support for domestic projects. “We welcomed the EU’s announcement of Tungsten West as a strategic project,” they added, indicating a broader intent to strengthen global supply chains in coordination with international partners.

  • EU to Press China on Rare Earth Access at Upcoming July Summit

    EU to Press China on Rare Earth Access at Upcoming July Summit

    European Union leaders plan to use next month’s high-level summit with China to push for improved access to critical minerals and rare earths, according to four sources familiar with the matter. The summit, set for July 24–25 in Beijing, comes as tensions grow over trade disputes and export restrictions.

    The EU delegation—led by European Commission President Ursula von der Leyen and European Council President Antonio Costa—will meet with Chinese President Xi Jinping and Premier Li Qiang. Their primary agenda: addressing China’s tightening of export licences on rare earth alloys, magnets, and mixtures, which has created production concerns for European automakers and manufacturers.

    China, which controls the majority of global rare earth output, has offered to expedite licensing for EU firms through a so-called “green channel.” Yet according to diplomats and business leaders, less than half of the hundreds of licence applications have made meaningful progress, and customs delays continue even after approvals.

    Amid the broader trade friction—ranging from European tariffs on Chinese EVs to China’s retaliatory measures on EU brandy—Brussels aims to secure longer-term or exemption-based rare earth agreements that distinguish the EU from the U.S. The summit falls just two weeks before a U.S. deadline for allies to align on new tariff deals, further complicating EU negotiations with Beijing.

    While major breakthroughs are unlikely, EU leaders hope to leverage the symbolic 50th anniversary of EU-China relations to press their case. A European official noted, “China is playing its cards very well,” suggesting Beijing sees rare earths as a strategic bargaining chip.

  • Tungsten West’s Hemerdon Mine Named Strategic Project Under EU Critical Minerals Strategy

    Tungsten West’s Hemerdon Mine Named Strategic Project Under EU Critical Minerals Strategy

    Tungsten West, the company behind the revival of the Hemerdon tungsten mine near Plymouth, Devon, has announced a key milestone in its path to resuming operations. The project has been officially designated a strategic initiative under the European Union’s Critical Raw Materials Act, giving it a crucial boost in recognition and visibility within the global supply chain of vital minerals.

    The Hemerdon site, which contains the world’s second-largest known tungsten deposit, could supply up to 20% of global tungsten demand, according to company CEO Jeff Court. “We’re fully permitted and shovel ready,” Court confirmed, adding that production could resume as early as the end of 2026—provided the company secures £69 million ($93 million) in private funding.

    Tungsten West took over the site in 2019 after former operator Wolf Minerals Ltd entered administration. Interim operations began in 2023, but full-scale mining remains contingent on new investment.

    While UK government support has flowed toward lithium and tin projects in Cornwall, Tungsten West has yet to receive any public funding. Court emphasized the need for more domestic backing: “It’s a UK project. The benefits—jobs, tax revenue, and regional growth—will be felt here.”

    Court called on Westminster to offer “an equal share of support” to tungsten and other strategic metals vital for defense and electronics. A spokesperson from the Department for Business and Trade noted that the UK’s forthcoming Critical Minerals Strategy will outline measures to support domestic projects and strengthen international partnerships.

    Tungsten’s strategic importance stems from its use in high-performance electronics, tools, and military applications, including missiles and bullets due to its extreme heat resistance.

  • Kaz Resources and Cove Kaz Capital Launch 2025 Work Programs to Advance Critical Minerals in Kazakhstan

    Kaz Resources and Cove Kaz Capital Launch 2025 Work Programs to Advance Critical Minerals in Kazakhstan

    NEW YORK, June 19, 2025 – Kaz Resources and Cove Kaz Capital LLC, portfolio companies of Cove Capital LLC, have officially kicked off their 2025 work programs, focusing on key lithium, polymetallic, and rare earth assets across Kazakhstan. The launch signals accelerated on-the-ground activity aligned with the nation’s strategic push to become a global supplier of critical minerals.

    Kaz Resources LLC will expand its exploration efforts in East Kazakhstan, building on 2024 drilling success. The program includes step-out and infill drilling, surface geochemical sampling, and geophysical surveys aimed at resource development across lithium and polymetallic targets. In parallel, the company is conducting metallurgical testing and a pilot program to evaluate lithium, tantalum-niobium, and other mineral recovery from historical tailings.

    Additionally, Cove Kaz Capital LLC, through its joint venture Akbulak REE Ltd. with Kazakhstan’s Qazgeology JSC, is advancing the Akbulak Rare Earth Project in Kostanay. The venture is currently finalizing license transfer approval and launching initial exploration activities, including structural analysis, sampling, and metallurgical tests.

    The Akbulak project hosts a historical resource of 380,000 tons of rare earth oxides, including neodymium, praseodymium, and yttrium—crucial materials for electric vehicles, electronics, and high-tech applications.

    Kaz Resources CEO Pini Althaus stated that the 2025 initiatives underscore the company’s commitment to fast-tracking development and contributing to a fully integrated supply chain, supporting both Kazakhstani goals and global mineral demands. Qazgeology JSC’s Acting CEO, Dauren Abuov, praised the partnership for demonstrating effective international cooperation in Kazakhstan’s mining sector.

  • Tungsten West Unveils Restart Plan for UK’s Hemerdon Mine, Targeting 20% of Global Non-China Tungsten Supply

    Tungsten West Unveils Restart Plan for UK’s Hemerdon Mine, Targeting 20% of Global Non-China Tungsten Supply

    Tungsten West, a UK-based mining company, has released a detailed development and economic plan for restarting operations at the Hemerdon tungsten and tin mine in Devon. The company projects that, once operational, the mine could supply over 20% of the global primary tungsten output from outside China—a major boost for Western critical mineral supply chains.

    Fully permitted and construction-ready, the Hemerdon project is expected to produce approximately 332,000 metric tonne units (mtu) of tungsten trioxide and 462 tonnes per year of tin concentrate during steady-state operations. Production could begin within 12 months of securing funding.

    Tungsten West is currently in discussions with multiple potential investors and aims to close a $93-million funding round by the end of 2025. The project benefits from around $300 million in historical investment and promises robust returns, with a projected post-tax life-of-mine cash flow of $456 million, a net present value of $190 million, and an internal rate of return (IRR) of 29.3%—based on a conservative tungsten price of $400/mtu.

    CEO Jeff Court highlighted the project’s strategic importance: “At full capacity, Hemerdon is expected to produce over 20% of the global non-China supply of tungsten and will significantly strengthen the developed world’s supply chain for this critical metal.”

    The plan outlines an initial 11-year mining phase, followed by four years of stockpile processing and 12 additional years of aggregate sales. A long-term expansion program—dubbed “Hemerdon Futures”—could extend mine life beyond 40 years.

    Key investments include a new front-end processing system, upgrades to existing processing facilities, and stringent environmental noise mitigation measures. The mine will process 3.5 million tonnes of ore annually and is forecasted to sit within the lowest quartile of global tungsten producers with an all-in sustaining cost of $144/mtu.

    In response to China’s recent export restrictions on tungsten, which have driven market prices above $400/mtu, Tungsten West emphasized the growing importance of secure, domestic supply chains for dual-use critical metals.

    The company has also received regulatory approval for limited trial processing of 2,500 tonnes of on-site material and plans to issue additional convertible loan notes to bridge funding through financial close. Hannam & Partners is acting as the financial adviser and broker for the restart funding.

  • Ukraine Eyes Mineral Revival with U.S. Deal Amid War and Reconstruction Hopes

    Ukraine Eyes Mineral Revival with U.S. Deal Amid War and Reconstruction Hopes

    Ukraine is revamping its long-neglected minerals sector in an effort to attract billions in foreign investment and secure a critical role in global resource supply chains. The move follows a landmark minerals partnership with the United States, launched on 23 May through a dedicated fund that will channel revenues from new mining licenses into developing strategic resource projects.

    Ecology Minister Svitlana Hrynchuk told Reuters that the deal, heavily promoted by former U.S. President Donald Trump, could unlock vast untapped potential in Ukraine’s natural resources sector. While the country currently derives just 4% of its GDP from natural resources, the minister sees significant room for growth—particularly in the extraction of critical minerals for defence, green energy, and high-tech industries.

    Ukraine boasts deposits of 22 out of 34 critical minerals listed by the European Union. However, much of this potential remains underdeveloped, hampered by Soviet-era bureaucracy and a chronic lack of investment. The war has only worsened the situation, with an estimated 70 trillion hryvnias ($1.7 trillion) in sector losses due to Russian occupation and conflict along a 1,000 km frontline.

    Despite this, Ukraine continues to push forward. A new national strategy is focused on digitising up to 80% of Soviet-era geological data—currently 40% complete—while also reviewing 3,000 mining licenses to identify dormant or underutilised assets. Last year, auctions for mining rights raised 2.4 billion hryvnias, and similar revenue is expected in 2025.

    The U.S. deal, described by Treasury Secretary Scott Bessent as a “full economic partnership,” gives Washington preferential access to new Ukrainian mineral projects. The agreement is also seen as a key step in Ukraine’s EU accession ambitions, with Brussels and the European Bank for Reconstruction and Development supporting modernization efforts.

    Although investor interest is currently dominated by domestic players, growing foreign participation is anticipated—especially in high-demand minerals like titanium, graphite, manganese, and traditional hydrocarbons.

  • IEA Warns of Growing Global Supply Risks in Critical Mineral Markets

    IEA Warns of Growing Global Supply Risks in Critical Mineral Markets

    The International Energy Agency (IEA) has raised concerns over the increasing concentration of critical mineral supplies and the growing use of export restrictions, warning that these trends heighten the risk of severe disruptions to global markets. In the latest edition of its Global Critical Minerals Outlook, the agency provides a detailed analysis of supply chains, demand, investment, and policy trends across vital energy-related minerals, including lithium, copper, cobalt, graphite, and rare earth elements (REEs).

    According to the report, the global supply of critical minerals has become more concentrated, particularly in refining and processing. In 2024, the average market share held by the top three producers rose to 86%, up from 82% in 2020. China remains the dominant player in most mineral supply chains, while Indonesia leads in nickel.

    While demand, especially for battery metals like lithium, continues to grow—lithium demand jumped by nearly 30% in 2024—investment momentum has slowed. Capital spending on critical minerals rose just 5% this year, a sharp decline from 14% in 2023. Exploration activity has also plateaued, signaling a pause in growth and increasing long-term supply risk.

    The IEA projects that even under current policy settings, supply diversification will advance slowly over the next decade. This raises alarm for markets like copper, where a looming supply shortfall of up to 30% by 2035 is expected due to insufficient mine development.

    Additionally, the report reveals that over half of strategic energy minerals are now subject to some form of export control. China holds an average 70% market share in the refining of 19 out of the 20 critical minerals analyzed and remains central to processing technologies for emerging battery chemistries like lithium-iron-phosphate and sodium-ion.

    IEA Executive Director Dr. Fatih Birol warned that critical minerals have become “a frontline issue” in global energy and economic security. The report urges countries to accelerate efforts to diversify supply chains, boost investment, and build resilience to geopolitical and trade-related shocks.

  • Uzbekistan Participates in Second C5+1 Critical Minerals Dialogue with the United States

    Uzbekistan Participates in Second C5+1 Critical Minerals Dialogue with the United States

    The latest round of the C5+1 Critical Minerals Dialogue—bringing together Central Asian countries and the United States—was recently held in an online format for the second time. The initiative is aimed at deepening cooperation in the field of critical minerals vital to industrial development.

    Representing Uzbekistan were officials from the Ministry of Mining and Geology, led by Deputy Minister R. Yusupov, along with representatives of the Uzbek State Enterprise for Technological Metals. During the session, the Central Asian states put forward several proposals to strengthen ties with the U.S. regarding the exploration, development, and supply of critical minerals.

    Participants also presented new investment projects aimed at fostering greater economic and strategic collaboration in the resource sector. The dialogue highlighted the region’s potential as a future supplier of key minerals crucial to the global transition toward clean energy and advanced technologies.

  • Europe’s Lithium Paradox: New Documentary Explores EU’s Critical Mineral Dilemma

    Europe’s Lithium Paradox: New Documentary Explores EU’s Critical Mineral Dilemma

    A new documentary, Europe’s Lithium Paradox, produced by Storyrunner and SIM² KU Leuven and distributed by Journeyman Pictures, delves into the European Union’s struggle to secure a sustainable and self-sufficient supply of lithium—a metal essential for electric vehicle batteries and renewable energy storage.

    Despite possessing significant lithium reserves, Europe lacks operational mines and remains heavily dependent on imports, particularly from China. The film investigates the challenges hindering the development of domestic lithium mining, including slow permitting processes and opposition from environmental groups.

    Featuring insights from policymakers, industry experts, and civil society representatives, the documentary examines key projects across the continent, such as Serbia’s Jadar mine and Portugal’s Mina do Barroso. It also addresses the broader implications of Europe’s reliance on external sources for critical raw materials and explores potential pathways toward a more resilient and environmentally conscious supply chain.