MINEX Forum

Tag: critical minerals

  • Rock Tech Lithium and Siemens Partner to Develop Digitalised Lithium Converter in Ontario

    Rock Tech Lithium and Siemens Partner to Develop Digitalised Lithium Converter in Ontario

    Rock Tech Lithium and Siemens Canada have signed a non-binding memorandum of understanding to establish a long-term strategic partnership aimed at developing advanced lithium conversion capacity in Canada, centred on the planned Red Rock converter project in Ontario.

    The agreement, announced during the Canadian Critical Minerals Forum hosted by Natural Resources Canada at PDAC 2026 in Toronto, focuses on applying Siemens’ digitalisation technologies, including Digital Twin systems, throughout the design, construction and operation of the lithium processing facility.

    The Red Rock converter will be developed using the engineering blueprint of Rock Tech’s fully permitted Guben lithium converter project in Germany. By replicating the design, the company aims to accelerate development timelines, reduce technical risks and improve capital efficiency while moving toward a final investment decision in Canada.

    The planned facility is expected to produce up to 32,000 tonnes of lithium carbonate equivalent annually, enough to supply battery materials for roughly 900,000 electric vehicles each year. Once operational, the plant would become Ontario’s first lithium conversion facility and a key component of Canada’s emerging battery materials supply chain.

    Rock Tech said the project will form part of a vertically integrated supply chain alongside its Georgia Lake lithium mining project, creating a regional “rock-to-battery” corridor within Ontario.

    Under the partnership, Siemens will deploy its Digital Twin technology to model process design, energy use and material flows across the entire project lifecycle. The digital system is intended to optimise plant efficiency, emissions performance and operational reliability before major capital investments are committed.

    The collaboration also reflects growing strategic cooperation between Canada and Germany on critical minerals supply chains. Officials said the Red Rock project aligns with priorities under the G7 Critical Minerals Production Alliance and could serve as a reference model for future lithium conversion facilities in allied markets.

    The partnership will be implemented in multiple phases, beginning with the integration of digital technologies into feasibility and engineering studies. The companies will also explore additional Siemens services and potential joint funding opportunities with Natural Resources Canada, the Government of Ontario and bilateral Canadian-German programmes.

    Canadian Energy and Natural Resources Minister Tim Hodgson said initiatives such as the Red Rock project demonstrate how G7 partners are moving from policy commitments to concrete investments aimed at building secure and sustainable critical mineral supply chains.

  • Kazakhstan Highlights Exploration Drive and $500m Investment Plan at PDAC 2026

    Kazakhstan Highlights Exploration Drive and $500m Investment Plan at PDAC 2026

    A Kazakh delegation led by Vice Minister of Industry and Construction Iran Sharkhan took part in PDAC 2026, the world’s leading mining and exploration conference hosted by the Prospectors & Developers Association of Canada in Toronto.

    During the event, the Ministry of Industry and Construction, in partnership with the Kazakhstan Chamber of Mines and Aurora Minerals Group Limited, and with support from the Embassy of Kazakhstan in Canada, organised the international forum “Kazakhstan Day.” The session focused on the country’s geological potential and exploration opportunities.

    The forum drew representatives from major international and Canadian mining companies, including Zijin Mining Group, B2Gold, First Quantum Minerals, Hatch, Arras Minerals and Xcalibur Smart Mapping.

    In his address, Iran Sharkhan stressed that the government places strategic importance on improving the geological knowledge base of Kazakhstan’s territory. Over the next three years, approximately $500 million is expected to be allocated to geological exploration, exceeding the total state investment in exploration over the previous three decades.

    According to the Vice Minister, systematic expansion of exploration activities and the opening of new territories for prospecting will create improved conditions for foreign investment and deeper international cooperation in the mining and metallurgical sector.

    Participants were also presented with an overview of key geological discoveries made in 2024–2025, along with successful examples of joint projects implemented with foreign partners.

    On the sidelines of PDAC, the head of the delegation held a series of bilateral meetings with Canadian and international mining executives interested in launching new projects in Kazakhstan. Discussions focused on cooperation in critical minerals, the application of advanced exploration and mining technologies, and potential joint ventures in downstream processing of Kazakh raw materials.

    Officials said Kazakhstan’s participation at PDAC 2026 underscored sustained international interest in the country’s resource base and demonstrated its readiness to expand partnerships with Canadian and global investors across the mining value chain.

  • Fen Deposit in Norway Expands 81%, Strengthening Europe’s Rare Earth Ambitions

    Fen Deposit in Norway Expands 81%, Strengthening Europe’s Rare Earth Ambitions

    Rare Earths Norway has announced a substantial upgrade to mineral resources at its Fen project, describing the deposit as Europe’s largest rare earth accumulation and a potential cornerstone of the continent’s strategic supply chain.

    According to a revised estimate prepared by consulting firm WSP, indicated and inferred resources at Fen now total 15.9 million tonnes of rare earth oxides, an 81 percent increase from the 8.8 million tonnes reported in 2024. The updated figures place Fen well ahead of Sweden’s Per Geijer deposit, previously cited by LKAB as Europe’s largest rare earth discovery.

    Bernd Schaefer, CEO of EIT RawMaterials, said the resource expansion elevates Fen from a promising discovery to what he described as a world-class strategic asset. He noted the project could serve as the foundation for a compact “mine-to-magnet” value chain within Europe, supporting industrial resilience and long-term raw material security.

    Europe currently has no operating rare earth mines, leaving the region heavily dependent on imports. Eurostat data show that in 2024, 95 percent of the European Union’s rare earth imports originated from China, Malaysia and Russia. The development of Fen would support EU efforts to diversify supply and reduce strategic vulnerability.

    Rare earth elements are essential for advanced defence systems, including precision motors and sensors used in naval vessels, fighter aircraft and drones, as well as permanent magnets required for electric vehicles, wind turbines and consumer electronics. The latest resource estimate indicates that approximately 19 percent of Fen’s oxides consist of neodymium and praseodymium, key materials for high-performance magnets. The deposit also contains notable quantities of niobium and thorium.

    Rare Earths Norway has previously outlined plans to commence production in late 2031, targeting annual output of 800 tonnes of NdPr by 2032, equivalent to roughly 5 percent of projected EU demand. While the company holds an extraction permit, it still requires an operating permit before mining can begin. The latest announcement did not revise projected timelines or production targets.

    The project aligns with the EU’s ResourceEU action plan adopted in December 2025, which seeks to accelerate domestic extraction, processing and recycling of critical minerals. However, current EU policy does not restrict the export destinations of rare earths mined within the bloc, meaning production could still be sold to non-European markets.

  • At PDAC’s “Uzbekistan Day,” the “Mine-Metal-Market” Model is Presented to the International Community

    At PDAC’s “Uzbekistan Day,” the “Mine-Metal-Market” Model is Presented to the International Community

    At the “Uzbekistan Day” event, organized in Toronto, Canada, as part of the prestigious PDAC-2026 global mining and geological conference, Uzbekistan’s potential in critical minerals was showcased to an international audience.
    During this event, held under the auspices of the Ministry of Mining Industry and Geology of the Republic of Uzbekistan, the country’s geological capabilities, investment potential, and an industrial model based on the complete “Mine-Metal-Market” value chain were presented to the global community.
    The event was attended by the Ambassador Extraordinary and Plenipotentiary of Uzbekistan to the USA, representatives from the Ministry of Foreign Affairs, as well as the management, consultants, and international experts of the Uzbek Technological Metals Complex – the country’s first and only industrial operator focused on critical minerals, established at the initiative of President Shavkat Mirziyoyev.
    “Uzbekistan Day” was met with great interest by representatives of the global mining and metallurgical industry. The event drew representatives from nearly 200 companies and institutions, including leadership from major firms such as Alpha Bronze, international engineering giant AtkinsRéalis, AGT Systems NA, aerogeophysical services leader Xcalibur, Speyside, Global Mining Capital Corp, and Freedom Capital Markets, as well as representatives from the US Geological Survey (USGS) and the European Commission’s critical raw materials policy division.
    Scott Sutherland, Managing Director of the Society of Exploration Geophysicists:
    “I participated in the Uzbekistan Day session at PDAC and was very impressed by the geological and mining potential presented by Uzbekistan. By the end of this year, the Society of Exploration Geophysicists plans to hold an international conference in Uzbekistan, specifically in Tashkent, dedicated to the mining industry.We are pleased with the fruitful cooperation we have established with the Government of Uzbekistan and intend to work even more actively in the country in the future, contributing to the realization of its resource potential and extensive opportunities.”
    The event highlighted the large-scale reforms underway in our country, promising projects for developing new deposits and the deep processing of rare and technological metals, and initiatives aimed at expanding international cooperation.
    Additionally, during the event, the Uzbek Technological Metals Complex signed a memorandum with the Canadian company OMAD International Inc. aimed at attracting investment and developing industrial cooperation.
    Furthermore, a memorandum of cooperation was signed with Erdenes IT LLC, which entails the creation of technology parks, the implementation of joint research and development initiatives, and collaboration in mining, geology, and international marketing.
    These agreements reflect a consistent strategic approach to the international promotion of the “Mine-Metal-Market” model, which aims to transform Uzbekistan’s geological potential into globally competitive industrial products with high added value and establish the country as a key link in the global critical minerals value chain.

  • US EXIM Signals Up to $240m Financing for QazMoly’s Drozhi­lovskoye Tungsten-Molybdenum Project in Kazakhstan

    US EXIM Signals Up to $240m Financing for QazMoly’s Drozhi­lovskoye Tungsten-Molybdenum Project in Kazakhstan

    QazMoly Limited, part of Kazakhstan-based mining and energy group AltynGroup controlled by the Asaubayev family, said it has received indicative interest from the Export-Import Bank of the United States (US EXIM) for financing of up to $240 million to advance the Drozhi­lovskoye tungsten-molybdenum deposit in the Denisov district of Kostanay region.

    According to the company, the Drozhi­lovskoye deposit contains significant resources of critical minerals including tungsten, beryllium and molybdenum, metals widely used in high-technology manufacturing and applications across engineering, aerospace and defence industries. The announcement positions the project within broader US and European efforts to diversify critical mineral supply chains away from China, which remains a dominant supplier of many strategic raw materials.

    Under the proposed structure, the financing would be conditional on 100% of Kazakhstan’s tungsten concentrate output from the project being supplied to the US market, reflecting Washington’s classification of tungsten as a strategic material. QazMoly said Fosbury Capital is expected to act as the exclusive buyer and financial partner for the project.

    The potential EXIM support remains subject to completion of QazMoly’s feasibility studies and the lender’s full legal, commercial and technical due diligence. QazMoly said the project benefits from competitive production costs, government support, and macro tailwinds from expected growth in global tungsten demand, which market estimates suggest could rise by an average of around 8% per year and push the sector toward a value of $10 billion by the mid-2030s.

    Aidar Asaubayev, chairman of QazMoly’s board, said the indicative backing could help move the Drozhi­lovskoye development forward, supporting job creation and strengthening critical mineral supply chains. The company expects the financing, if finalised, to cover a significant share of capital expenditure and could become one of the largest examples of US export credit participation in Kazakhstan’s mining industry.

    Earlier plans disclosed in the early 2020s by Qaz Mining Company envisaged development of the 5.86 km² Drozhi­lovskoye licence area over 2022–2034, with a reported resource base of 125.2 million tonnes of ore and a targeted mining and processing capacity of 11 million tonnes per year. However, public sources have not confirmed the start of full-scale operations.

    QazMoly’s 2024 financial reporting cited estimated tungsten trioxide mineral resources at Drozhi­lovskoye of 126,400 tonnes at a grade of 0.116%, with the licence valid until 2034. The company previously indicated plans to build a concentrator designed to process molybdenum-tungsten ores at a capacity of 200,000 tonnes per year by 2025.

    The company also disclosed it holds an exploration contract for the Smirnovskoye molybdenum project in Kostanay region. QazMoly reported a loss of £213,000 for the 2024 reporting period.

  • Allied Critical Metals Posts Strong PEA Economics for Borralha Tungsten Project as 20,000 m Drill Program Gets Underway

    Allied Critical Metals Posts Strong PEA Economics for Borralha Tungsten Project as 20,000 m Drill Program Gets Underway

    Allied Critical Metals Inc. has released the results of an initial Preliminary Economic Assessment (PEA) for its 100%-owned Borralha Tungsten Project in northern Portugal, outlining an underground development concept with strong returns across multiple tungsten price scenarios and a fully funded drilling campaign aimed at expanding resources beyond the initial mine plan.

    In the study’s medium case using a tungsten price of USD 1,000/mtu WO₃, the project delivers an after-tax NPV(8%) of C$473.4 million (USD 346.6 million) and an after-tax IRR of 48.8%, with an estimated payback period of 4.2 years. Under the base case aligned with an Argus long-term average price assumption of roughly USD 704/mtu WO₃, the after-tax NPV(8%) is C$182.7 million (USD 134.0 million) and the after-tax IRR is 27.2%, with a payback of 5.8 years. A high-price sensitivity case at USD 1,500/mtu WO₃ increases the after-tax NPV(8%) to C$963.8 million (USD 706.4 million) and the IRR to 78.4%, shortening payback to 3.2 years.

    The PEA estimates initial capital at approximately USD 91 million (C$124.2 million) and sustaining capital at about USD 87 million (C$118.8 million), for total life-of-mine capital of roughly USD 178 million (C$243.1 million). The mine plan covers an 11-year operating life, based on the Santa Helena Breccia deposit, with a nominal processing rate of 1.4 million tonnes per annum and average mill feed grade of about 0.20% WO₃. Average annual recovered production is estimated at approximately 1,708 tonnes WO₃, with peak annual output of 2,388 tonnes WO₃. The company reported an all-in sustaining cost estimate of around USD 303/mtu WO₃.

    Allied said the economic model was built on conservative design assumptions, including mine design and cut-off grade selection developed using USD 659/mtu WO₃. The company highlighted that reported spot market pricing for tungsten has recently been materially higher than the study’s sensitivity cases.

    The company also reported several de-risking milestones and strategic positioning factors. Borralha has received a favourable Environmental Impact Declaration (DIA) from Portugal’s environment agency, subject to standard regulatory conditions, and the project has been endorsed by idD Portugal Defence as a strategic initiative of national importance.

    To support growth beyond the initial 11-year plan, Allied has begun a fully funded 20,000-metre drill program targeting resource expansion, conversion of inferred material into higher-confidence categories, potential mine life extension, and possible throughput and scale optimisation. The PEA does not include Allied’s other tungsten project at Vila Verde.

  • Uzbekistan to Showcase Mining and Investment Opportunities at PDAC 2026 in Toronto

    Uzbekistan to Showcase Mining and Investment Opportunities at PDAC 2026 in Toronto

    We look forward to seeing you at Uzbekistan Day!

    As part of PDAC 2026 — one of the world’s most prestigious mining and geology conventions held in Toronto, Canada — the Ministry of Mining Industry and Geology of the Republic of Uzbekistan is organizing the “Uzbekistan Day” event.

    The event will be attended by the Ambassador Extraordinary and Plenipotentiary of Uzbekistan to the United States, as well as representatives of the Ministry of Foreign Affairs, the Ministry of Investments, Industry and Trade, and leading national companies.

    “Uzbekistan Day” serves as a key platform to present Uzbekistan’s geological potential, investment opportunities, and its integrated industrial model based on the full value chain under the “Mine–Metal–Market” principle.

    📅 March 1, 2026
    ⏰ 08:00–12:00
    📍 PDAC North Building, Meeting Room 202B

    We also invite you to attend the “Uzbekistan Global Roundtable” session, held as part of the PDAC Global Roundtables organized by Canada’s Trade Commissioner Service (TCS).

    📅 March 2, 2026
    ⏰ 14:30–16:00 (EST)
    📍 MTCC, North Building, Room 104A

    During this session, participants will gain deeper insight into Uzbekistan’s investment potential in the technological metals sector and its new industrial model focused on value-added processing and downstream development.

    Please note that seating is limited. To register, kindly contact:
    📩 anna.ilhan@uztmk.uz

    Throughout PDAC, we also welcome you to visit our booth #7523N in the North Building, where you will have the opportunity to engage in direct B2B discussions on project development and partnership opportunities with the Uzbekistan Technological Metals Complex.

  • India Set to Strengthen Critical Minerals Cooperation with Germany and Canad

    India Set to Strengthen Critical Minerals Cooperation with Germany and Canad

    India’s Cabinet is expected to approve new international cooperation agreements with Germany and Canada aimed at strengthening partnerships in the critical minerals sector, as New Delhi accelerates efforts to secure resources essential for clean energy technologies and advanced manufacturing.

    According to government sources, the Cabinet meeting chaired by Prime Minister Narendra Modi is likely to clear a Joint Declaration of Intent with Germany focused on joint mineral exploration, sustainable mining practices, supply chain resilience and technology transfer. A similar agreement with Canada is also expected to receive approval.

    The proposed partnerships come amid intensifying global competition for critical minerals such as lithium, cobalt, nickel and rare earth elements, which are key inputs for electric vehicles, renewable energy systems and high-tech industries.

    India has been expanding its international engagement to diversify supply sources and reduce import dependence as part of its broader Atmanirbhar Bharat strategy aimed at strengthening domestic industrial and energy security.

    The agreements are aligned with India’s Critical Minerals Mission launched in 2025, alongside ongoing reforms under the Mines and Minerals (Development and Regulation) Amendment Act, which has enabled new auctions of mineral blocks to attract investment and accelerate resource development.

    Officials view cooperation with resource-rich and technologically advanced partners as a strategic step toward building resilient supply chains and supporting India’s long-term energy transition objectives.

  • Sweden’s Per Geijer Deposit Emerges as One of Europe’s Largest Rare Earth Discoveries

    Sweden’s Per Geijer Deposit Emerges as One of Europe’s Largest Rare Earth Discoveries

    A major rare earth discovery linked to Sweden’s long-established Kiruna iron mining district is positioning northern Europe as a potential future supplier of critical minerals essential for electric vehicles, renewable energy and advanced technologies.

    State-owned miner LKAB has confirmed that the Per Geijer deposit, located near Kiruna above the Arctic Circle, contains an estimated 2.2 million tonnes of rare earth oxides alongside substantial volumes of iron ore and phosphorus. The updated resource estimate places the site among the largest known rare earth deposits in Europe.

    Rare earth elements are vital components in permanent magnets used in electric vehicle motors, wind turbines and consumer electronics. Europe currently relies heavily on imports, with China responsible for processing nearly 90 percent of global rare earth supply, creating strategic vulnerabilities across industrial and energy transition supply chains.

    LKAB estimates that once fully developed, Per Geijer could eventually meet up to 18 percent of Europe’s rare earth demand. The deposit also contains approximately 1.2 billion tonnes of iron ore and phosphorus, with rare earth minerals primarily hosted in apatite, allowing recovery alongside existing iron mining operations.

    The project forms part of a broader European effort to strengthen domestic raw material production under the EU Critical Raw Materials Act, which aims to reduce reliance on single external suppliers and expand regional mining and processing capacity by 2030. Per Geijer, together with LKAB’s related developments in Malmberget and Luleå, has received strategic project status, enabling accelerated permitting procedures and improved access to financing.

    Rather than developing a standalone rare earth mine, LKAB plans an integrated industrial chain linking iron ore extraction in Kiruna with downstream processing facilities. Concentrates produced at Malmberget would be transported to a new industrial hub in Luleå, where hydrometallurgical processing will separate rare earth oxides, phosphoric acid for fertiliser production and gypsum by-products.

    To support final separation of individual rare earth elements, LKAB has also invested in Norwegian technology company REEtec, which is developing alternative refining methods aimed at reducing dependence on Chinese processing technologies.

    Despite its strategic importance, the project faces social and environmental challenges. Mining activity has already forced the gradual relocation of Kiruna due to ground subsidence, while Indigenous Sámi communities have raised concerns that expanded mining could disrupt traditional reindeer herding routes and fragile Arctic ecosystems.

    LKAB emphasises that Per Geijer remains a mineral resource rather than an approved mining reserve, with further exploration, technical studies and permitting required. Industry analysts expect large-scale rare earth production to take between 10 and 15 years before material from the project reaches European manufacturing supply chains.

    Even at full capacity, experts note that the deposit will complement rather than replace global supply networks. However, the presence of a major domestic rare earth source marks a significant shift in Europe’s long-term strategy to secure materials underpinning the green and digital transition.

  • Uzbekistan’s Critical Minerals Move to the Center of US Geoeconomic Strategy

    Uzbekistan’s Critical Minerals Move to the Center of US Geoeconomic Strategy

    Uzbekistan’s critical mineral resources have become part of a broader US geoeconomic strategy aimed at reducing dependence on China, according to analysis by the Bloomsbury Intelligence & Security Institute (BISI).

    The recently signed memorandum between Tashkent and Washington coincided with a US-hosted ministerial meeting on critical minerals attended by more than 40 countries. At the same time, Washington announced the launch of two new mechanisms: FORGE (Forum on Resource Geostrategic Engagement) and Project Vault, a $12 billion strategic reserve fund for purchasing and stockpiling critical minerals.

    BISI assesses that the agreement with Uzbekistan fits into a wider network of bilateral partnerships designed to diversify supply chains away from China.

    Uzbekistan holds reserves of tungsten, lithium, vanadium, titanium, germanium and graphite — materials considered essential for defense industries, battery technologies and advanced manufacturing. According to BISI, the country could become a “preferred partner” for the United States within the emerging global raw materials architecture.

    However, analysts caution that diplomatic engagement must translate into tangible investment. Without financing mechanisms through institutions such as EXIM, the US International Development Finance Corporation (DFC), and private capital channels, the memorandum risks remaining largely symbolic.

    China’s role remains a critical variable. While experts consider it unlikely that Beijing will escalate tensions directly, increased commercial competition and diplomatic pressure cannot be ruled out. For Tashkent, this creates the need to position cooperation with Washington as commercial and non-exclusive, preserving existing economic ties with China.

    BISI also highlights potential sensitivities in relations with Russia, which could view deeper US-Uzbek cooperation through a geopolitical lens. Possible pressure points may include migration policy or information campaigns.

    In the short term, attention will focus on defining concrete projects and operational rules under the FORGE platform. Over the longer term, the success of the initiative will depend on Uzbekistan’s regulatory environment — including licensing stability, tax predictability and investor protection.

    Ultimately, these factors will determine whether Uzbekistan becomes an integrated player in a new global minerals system or remains primarily a raw material supplier outside major capital flows.