MINEX Forum

Tag: Energy Transition

  • Ukraine’s Lithium Ambitions: Opportunities and Challenges as Kyiv Seeks a Role in the Global Battery Metals Market

    Ukraine’s Lithium Ambitions: Opportunities and Challenges as Kyiv Seeks a Role in the Global Battery Metals Market

    Ukraine is positioning itself to enter the global lithium industry as the country prepares to close applications on December 12 for its first-ever lithium Production Sharing Agreement, covering the “Dobra” hard-rock deposit. The tender comes as Kyiv seeks to revive its mining and processing base, re-launch geological exploration and build a broader critical minerals sector that could anchor Ukraine more firmly within Western supply chains.

    The discussion follows earlier analysis of Ukraine’s role in the titanium value chain, where the country has long-standing expertise, an established presence in chloride-process feedstock and a historically strong resource base. Supporters argue that many of these strengths can be leveraged as Ukraine moves toward lithium — a metal undergoing rapid transformation and increasing geopolitical scrutiny.

    Over the past five years, lithium has shifted from a niche commodity to a key industrial material, underpinning electric vehicles, energy storage, digital infrastructure and AI-related growth. The sector has already weathered a full boom–bust cycle, marked by a dramatic 2022 price spike followed by a steep crash in 2023–2024. Market volatility, combined with the bankruptcy of battery producer Northvolt, production curtailments in Australia, the rise of South American brines and China’s entrenched dominance in refining, has reshaped the landscape for emerging producers.

    Despite turbulence, analysts expect demand to expand sharply. Forecasts from the IEA, Benchmark Mineral Intelligence and others project global lithium demand in 2035 at 3.5–4 million tonnes of LCE — three to four times current levels — driven largely by electric vehicles, grid-scale energy storage and the rapid growth of AI data centres. Evolving battery chemistries, including the rise of LFP, sodium-ion and eventual solid-state technologies, are not expected to displace lithium, only alter consumption patterns.

    On paper, the supply pipeline appears abundant, but industry experts warn that cost pressures, permitting delays and technology risks significantly constrain real-world output. Many high-cost projects failed as prices retreated to $10,000–$15,000 per tonne, underscoring the importance of cost-competitive Tier-1 and Tier-2 operations. These categories, which encompass top South American brines and efficient hard-rock mines, remain profitable even in downturns. Higher-cost Tier-3 and Tier-4 projects, including complex clays and power-intensive operations, cycle in and out of production, contributing to recurring price shocks.

    This tight supply environment supports long-term price expectations of $15,000–$20,000 per tonne, reinforcing the need for new jurisdictions to create competitive conditions for investment. For Ukraine, this means stable permitting, predictable policy and investment frameworks that allow the development of mid-tier, cost-competitive projects.

    Any discussion of future lithium supply also centers on China, which refines around two-thirds of global lithium chemicals and manufactures more than 70% of battery cells. Analysts expect China’s geographically domestic market share to shrink as new refining plants come online in Australia, Asia, the U.S. and the EU, but Chinese-controlled capacity abroad will remain substantial. Beijing is also expected to continue using state-backed tools to protect national champions during downturns, creating a competitive landscape that new producers must navigate.

    Experts highlight seven factors that determine success for emerging lithium producers: strong cost position, clear routes to market, fast permitting, robust governance and ESG frameworks, integration into geopolitical alliances, R&D capacity and development of human capital. Failure to meet these benchmarks has already sidelined many new entrants, given lithium’s cyclicality and the technological risks of unconventional extraction.

    For Ukraine, the “Dobra” PSA and other spodumene prospects offer pathways to enter European supply chains, especially with by-products such as rare metals bolstering project economics. As the world enters what many call the “New Age of Electricity,” Ukraine’s geological resources — whether lithium, graphite, copper, nickel or strategic metals such as titanium and zirconium — could elevate the country from a raw-material holder to a strategic partner.

    Analysts argue that the global race will favour countries able to combine strong geology with fast permitting, disciplined policy execution and deep integration into Western supply chains. For Ukraine, the choice is clear: remain a price-taking exporter exposed to market cycles or build the governance, investment environment and industrial partnerships needed to become a reliable supplier in a world increasingly defined by critical minerals competition.

  • Ukraine’s Lithium Push: Opportunities and Risks as Kyiv Seeks a Place in the Global Battery Metals Race

    Ukraine’s Lithium Push: Opportunities and Risks as Kyiv Seeks a Place in the Global Battery Metals Race

    Ukraine is moving to position itself as a future player in the global lithium industry, as the government races to revive its mining and processing sectors and build a broader critical minerals base. The country will close applications on 12 December for its first-ever lithium Production Sharing Agreement (PSA) tender, the “Dobra” hard-rock project, a test case for how Ukraine could integrate into Western battery supply chains.

    The tender comes as Kyiv seeks to leverage its geological legacy, long-standing mining expertise and high-quality resource base at a time when governments and companies worldwide are scrambling to secure critical raw materials. Ukraine already has a track record in other strategic metals, including titanium, and until 2021 produced titanium sponge. Supporters of Ukraine’s critical minerals strategy argue that these strengths, combined with proximity to European industrial hubs, make the country a natural diversification option for Western supply chains.

    The renewed focus on lithium follows a turbulent five years for the sector. Once a niche material, lithium has become a cornerstone of modern industry, particularly for electric vehicles (EVs), energy storage systems and digital infrastructure. Over that period, global markets have experienced a full boom–bust cycle, with a spectacular price spike in 2022 followed by a sharp correction in 2023–2024. At the same time, the bankruptcy of prominent battery maker Northvolt, production curtailments at Australian mines, the rise of South American brines and the entrenched dominance of Chinese refiners have exposed the vulnerabilities of geographically concentrated supply chains.

    Despite the price volatility, analysts broadly agree that demand growth is structural. Forecasts from organisations such as the IEA and leading market consultancies suggest that global lithium demand could reach 3.5–4 million tonnes of lithium carbonate equivalent (LCE) by 2035—roughly three to four times today’s levels. The main drivers remain EVs and stationary energy storage, with additional momentum from the rapid build-out of AI data centres and high-tech grid infrastructure.

    Technological developments are reshaping the landscape but are not expected to displace lithium. Lithium iron phosphate (LFP) chemistries have eaten into the market share of nickel-rich cathodes, sodium-ion batteries are emerging in low-cost applications and solid-state technologies could capture a slice of premium EVs by the mid-2030s. Yet these innovations mainly affect how much lithium is used per kilowatt-hour and in which segments, rather than removing the metal from the picture.

    On the supply side, the global project pipeline appears abundant on paper. If every announced brine, hard-rock, clay and direct lithium extraction (DLE) project were to proceed as planned, nameplate capacity could cover projected demand. In reality, sector observers highlight significant constraints, with many projects vulnerable to cost inflation, permitting delays and unproven technologies.

    Historically, lithium projects have tended to stumble for three main reasons: high operating and capital costs, slow and unpredictable permitting processes, and the technical challenges of scaling complex flowsheets such as DLE or clay leaching from pilot to commercial levels. The latest downturn, which saw prices fall from $70,000–80,000 per tonne in 2022 to around $10,000–15,000, quickly exposed high-cost operators and heavily leveraged projects. This has reinforced the view that, although global volumes may look sufficient over a decade-long horizon, availability in any given year can be tight, supporting long-term price expectations in the $15,000–20,000 per tonne LCE range.

    This dynamic is reflected in a sharply tiered cost curve. At the low end, Tier-1 producers—top-tier South American brines, the most efficient hard-rock operations and select DLE projects—can operate at $5,000–7,000 per tonne LCE and remain profitable even in deep downturns. Tier-2 operators, typically competitive hard-rock, some clay and maturing DLE projects, sit in the $7,000–10,000 range and can generate strong returns at mid-cycle prices if projects are well structured and debt is manageable. Tier-3 and Tier-4 projects, often involving complex clays, high-cost lepidolite or power-intensive flowsheets, form the marginal and speculative end of the market, entering only during price spikes and shutting down when conditions normalise.

    Price overshoots occur when demand growth or disruptions force the market to rely on these more expensive sources of supply, pushing prices far above long-term averages. For new entrants such as Ukraine, the central strategic question is where their projects will sit on this cost curve. Policymakers and investors are increasingly focused on creating conditions that allow new projects to land in Tier-1 or Tier-2, rather than relying on high-cost, short-lived capacity.

    Any assessment of Ukraine’s ambitions must also account for China’s entrenched position in the midstream. Chinese companies currently refine around two-thirds of the world’s lithium chemicals and produce more than 70% of battery cells, with domestic champions such as CATL and BYD dominating global markets. By 2035, some refining capacity will likely shift to Australia, East Asia, the US, Europe and the Gulf, but Chinese-owned or Chinese-financed plants are expected to remain deeply embedded across the value chain. Analysts note that Beijing has historically tolerated low margins and selective losses in parts of the chain when doing so secures long-term offtake or strengthens national champions.

    For new suppliers, this means they are competing not with a single “Chinese price” but with a spectrum of Chinese cost positions—from ultra-competitive assets to weaker Tier-4 operations—and with a system that can adapt quickly in downturns. Western governments have responded by pushing for “friendshoring” and diversification, expanding financing tools and promoting critical minerals partnerships. In that context, Ukraine is increasingly seen as a potential strategic partner, particularly for Europe.

    Experts argue that success for new lithium-producing countries hinges on several factors: a strong cost position, reliable routes to market and logistics, fast and predictable permitting, credible governance and ESG standards, integration into wider industrial and geopolitical blocs, access to R&D and technology alliances, and sustained investment in human capital. At the same time, they warn that many aspiring entrants will fall short due to capital constraints, policy volatility and over-reliance on unproven technologies.

    For Ukraine, the “Dobra” PSA and other prospective spodumene deposits could provide a foothold in the European market, particularly if lithium production can be coupled with by-product recovery of other rare and strategic metals. With titanium, zirconium, hafnium, germanium and gallium also part of its broader resource base, Ukraine hopes to evolve from a raw material holder into a strategic partner embedded in Western critical minerals supply chains.

    Analysts note that the coming decade, often described as a “New Age of Electricity”, will be driven by lithium, graphite, copper, nickel and uranium, alongside strategic metals such as titanium. Whether Ukraine can translate its geology into durable strategic capability will depend on its ability to deliver competitive Tier-2 projects, streamline permitting, maintain stable policy and deepen integration with Western alliances and investment frameworks. Otherwise, the country risks remaining a price-taking exporter, exposed to the cyclical swings that have defined the lithium market to date.

  • Rio Tinto Pauses Serbia’s Jadar Lithium Project, but Opponents Warn the Fight Is Far From Over

    Rio Tinto Pauses Serbia’s Jadar Lithium Project, but Opponents Warn the Fight Is Far From Over

    Rio Tinto has placed its controversial $3.6 billion Jadar Valley lithium project into “care and maintenance,” pausing all development while retaining control of the land — a move that critics say is far from a full retreat. An internal company memo obtained by the ABC reveals that the mining giant will halt spending and suspend progress toward an underground lithium mine in Serbia’s Jadar region as it restructures operations under new CEO Simon Trott and continues to face major permitting hurdles.

    The memo underscores Rio Tinto’s view that Jadar remains a “tier one deposit” with the potential to play a major role in Serbia’s and Europe’s energy transition. But it also cites a lack of progress with government approvals as a key factor in the decision.

    The project has been the subject of intense public resistance. Tens of thousands of Serbian citizens have protested in recent years, warning that mining operations in the fertile Jadar Valley would cause irreversible environmental and agricultural damage. Activist groups, including Marš sa Drine and local residents who have refused to sell their land, say Rio Tinto’s pause is merely a “temporary retreat” and insist they will continue to fight until the company leaves Serbia entirely.

    “Care and maintenance is not the cancellation of a project,” said Serbian-Australian actor and activist Bojana Novaković, one of the leading figures in Marš sa Drine. She emphasized that Rio Tinto still maintains offices in the region and has shown no signs of abandoning the site. “Until they pack their bags, close their offices, and sell the land back to the locals, there’s no reason to think they’ve gone away.”

    Rio Tinto had planned to extract 2.3 million tonnes of lithium from what has been called Europe’s largest and highest-grade deposit — enough to supply batteries for one million electric vehicles annually for decades. When the ABC visited the site in late 2024, the company estimated the mine could operate for at least 40 years.

    The project’s recent history has been turbulent. After nationwide protests ahead of Serbia’s 2022 elections, the government initially halted the mine. But the Constitutional Court reversed that decision in July 2024, allowing the project to proceed subject to environmental and legal conditions. Days later, President Aleksandar Vučić, German Chancellor Olaf Scholz and EU Energy Commissioner Maroš Šefčovič signed a landmark agreement granting EU manufacturers access to Serbian lithium — a move Brussels hailed as a “historic day” for Europe’s energy transition.

    However, Serbia’s political climate has since deteriorated. Public anger erupted after the collapse of a Belgrade railway station canopy killed 15 people, sparking massive demonstrations and contributing to the resignation of Prime Minister Miloš Vučević in January. Activists now argue that the Jadar project’s fate is directly tied to political turmoil, and that approval could return once stability does.

    Gavin Mudd of the British Geological Survey noted lithium’s global importance — its market value having grown from hundreds of millions to several billions in just over a decade — but stressed that mining must be conducted responsibly. Opponents in Serbia remain unconvinced. They argue that the Jadar Valley’s fertile agricultural land and populated communities make it unsuitable for mining under any circumstances.

    “This would be the first-ever lithium mine built on fertile soil and populated land,” Novaković warned. “If we allowed it to happen, it would open the floodgates.”

    Rio Tinto declined to comment on the memo or the future of the project.

  • EU Approves €1.75 Billion in German State Aid for LEAG’s Early Coal Exit

    EU Approves €1.75 Billion in German State Aid for LEAG’s Early Coal Exit

    The European Commission has signed off on Germany’s plan to provide up to €1.75 billion in compensation to energy company LEAG for the early shutdown of its lignite-fired power plants, a major step in the country’s coal phase-out strategy. The funds will cover lost profits as well as social costs, including measures to support workers transitioning into new employment.

    Germany’s coal exit aims to eliminate coal power generation by 2038 at the latest. While western Germany is on track to complete its phase-out by 2030—significantly earlier than originally planned—progress in eastern Germany, where LEAG operates its plants and open-cast mines, is moving more slowly. LEAG’s facilities are scheduled to close in stages between 2028 and 2038.

    Because national subsidy schemes can distort competition, EU approval is required for state aid. The Commission ruled that the compensation meets EU requirements, stating it is necessary to support Germany’s climate goals, appropriate in design, and proportionate—limited strictly to what is needed without leading to overcompensation. Brussels previously approved €2.6 billion in payments to western German lignite operator RWE under similar circumstances.

    German economy and energy minister Katherina Reiche welcomed the decision, calling the transformation of coal-dependent regions a “generational task.” The EU’s green light, she said, provides long-term planning certainty and opens the way to rebuild regional economies around new technologies, sustainable land restoration, and modern employment opportunities. Compensation to LEAG will be disbursed in several instalments over the coming years.

    LEAG is also accelerating its shift toward clean energy. On the same day the EU approved the aid package, LEAG Clean Power — a subsidiary of the group — announced plans for a 1.6 gigawatt-hour battery storage facility on the site of a former coal plant, underscoring the company’s transition strategy.

  • 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.

  • 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.

  • Sweden Lifts Uranium Mining Ban, Opening Path to Exploration from January

    Sweden Lifts Uranium Mining Ban, Opening Path to Exploration from January

    Sweden’s parliament, the Riksdag, has voted to repeal a 2018 moratorium on uranium mining, reopening the country to exploration and production beginning January 1. The decision restores uranium’s status under the Minerals Act, enabling companies to apply for exploration and mining concessions after a seven-year freeze.

    The move positions Sweden — which holds an estimated 27% of Europe’s known uranium resources, according to the Geological Survey of Sweden — to play a larger role in Europe’s energy transition and nuclear fuel supply security.

    “It is very positive that the Riksdag is now backing the government’s proposal,” said Maria Sunér, CEO of the Swedish Mining Association (Svemin). “There are no factual reasons for uranium to be treated differently than other metals, and it is therefore entirely reasonable that we now have the opportunity to utilize the resources found in our bedrock efficiently.”

    A municipal veto on handling small quantities of uranium was also narrowed, reducing local barriers to development.

    Policy Shift and Strategic Context

    The repeal caps a two-year legislative push led by Sweden’s Climate and Enterprise Ministry. The government formally presented the bill in August 2025, describing uranium as strategic for both nuclear energy expansion and raw-materials security.

    Sweden operates six nuclear reactors, supplying roughly one-third of the nation’s electricity. Plans are underway to build several new reactors over the next decade to meet surging power demand.

    The change also aligns with broader EU supply-chain resilience goals, as the bloc seeks to reduce its dependence on imported uranium, particularly from Russia.

    Exploration Ready to Resume

    Several companies are preparing to act immediately.

    Australian explorer Aura Energy (ASX: AEE; AIM: AURA), which controls the Häggån polymetallic deposit in Jämtland, has already submitted a 25-year exploitation permit to Sweden’s Mining Inspectorate. Häggån’s JORC resource includes roughly 800 million lb of uranium oxide (U₃O₈) within a 2.55-billion-tonne vanadium deposit.

    “This vote means that from now on uranium has the potential to be an important contributor to Sweden’s economy and energy security and to support the region’s intention to triple nuclear power,” said Aura executive chairman Phil Mitchell.

    Canada’s District Metals (TSXV: DMX) also hailed the vote as a “historic step.” The company plans fieldwork in 2026 at its Viken project, including geophysics, drilling, and economic studies. Viken hosts an indicated resource of 176 million lb U₃O₈ and an inferred resource of 1.54 billion lb U₃O₈, alongside vanadium and molybdenum.

    Market Response

    Despite the legislative breakthrough, uranium developers saw modest share pullbacks:

    • Aura Energy fell 7% to A$0.20, trimming its 12-month gain to 46% (market cap A$188 million / $122 million).

    • District Metals slipped 6% to C$1.37, giving it a valuation of C$228 million ($162 million), though its stock has quadrupled in the past year.

    Next Steps

    A separate proposal is now under consultation until December 3 to redefine uranium mining so it is no longer legally classified as a nuclear installation. If adopted, that change would take effect on July 1, 2026, further simplifying the permitting process.

  • Sweden’s Parliament Lifts Uranium Mining Ban Amid Narrow Vote and Environmental Concerns

    Sweden’s Parliament Lifts Uranium Mining Ban Amid Narrow Vote and Environmental Concerns

    The Swedish Parliament (Riksdag) has narrowly voted to lift the national ban on uranium mining, reopening the door to domestic extraction of the nuclear fuel for the first time since 2018.

    The decision passed by just one vote, with support from the government coalition and the Sweden Democrats, while the opposition — including the Green Party and Social Democrats — strongly opposed the measure.

    Supporters of the move argue that uranium mining is essential for Sweden’s long-term energy stability as the country expands its nuclear power capacity. Critics, however, warn that the decision poses significant environmental and social risks, particularly for rural municipalities with uranium-rich deposits.

    “This is a step backwards for environmental protection and public safety,” said Amanda Lind, a Green Party representative, sharply criticising the government’s decision.

    Key Changes and Next Steps

    Under the new legislation, mines with small uranium reserves will no longer be subject to strict permit requirements or municipal veto rights, which had previously allowed local authorities to block mining projects.
    This effectively simplifies the approval process and allows uranium to be treated as a secondary raw material in broader mining operations.

    The legal changes will take effect on January 1, with further reforms planned for mid-2026 that could fully abolish municipal veto powers and reclassify uranium extraction from a “nuclear instrument” to a “nuclear activity,” reducing procedural delays for industry.

    Local Concerns

    The decision has sparked strong reactions in uranium-rich regions such as Falköping, Östersund, and Vilhelmina, where local leaders and residents fear potential impacts on water quality, farmland, livestock, and rural landscapes.

    “We risk losing public trust if local communities feel overruled,” said one municipal council member quoted in Swedish media.

    Nuclear Expansion Context

    Sweden currently operates six nuclear reactors and plans to build additional ones in the next decade to meet rising electricity demand and reduce dependence on fossil fuels.

    The previous uranium mining ban, introduced in 2018 by the Social Democratic government, aimed to limit environmental risks and reduce nuclear proliferation concerns.

    However, following Russia’s invasion of Ukraine in 2022, Sweden halted uranium imports from Russia, which previously supplied state-owned utility Vattenfall AB. The government now sees domestic uranium extraction as a way to cut import costs and secure a stable fuel supply for its expanding nuclear fleet.

    The Bigger Picture

    The debate highlights Sweden’s broader energy dilemma — how to balance green transition goals, energy independence, and public environmental concerns.

    While the repeal marks a significant policy shift, it also deepens divisions between advocates of energy security and defenders of environmental safeguards.

  • Imerys in Exclusive Talks to Sell Minority Stake in French Lithium Project

    Imerys in Exclusive Talks to Sell Minority Stake in French Lithium Project

    French industrial minerals company Imerys announced it is in exclusive negotiations with a potential investor to sell a minority stake in its large-scale lithium mining project in central France, a key development in Europe’s efforts to secure domestic supplies of critical materials for the energy transition.

    Chief Financial Officer Sébastien Rouge told reporters on Thursday that the company is confident a deal can be finalized by the end of January 2026, though he declined to disclose the identity of the potential investor. The update came during the presentation of Imerys’ third-quarter results.

    Imerys first revealed plans in July to seek a financial and strategic partner for the project, which aims to produce battery-grade lithium to support Europe’s fast-growing electric vehicle industry. Since then, the estimated cost of the mine and processing complex — located near Echassières in France’s Allier department — has risen from €1 billion to €1.8 billion ($2.1 billion), reflecting inflationary pressures, higher energy costs, and expanded project scope.

    Once operational, the facility is expected to become one of Europe’s largest sources of lithium, a mineral considered vital for meeting EU goals to reduce dependence on imports from China and bolster the continent’s battery manufacturing capacity.

  • Polish Government Moves to Cut Copper Mining Taxes and Restructure Coal Sector

    Polish Government Moves to Cut Copper Mining Taxes and Restructure Coal Sector

    The Polish government has approved a draft amendment to the tax act on the extraction of certain minerals, designed to ease the tax burden on copper producers, government spokesman Adam Szłapka announced on Tuesday. The cabinet also adopted draft changes to the acts regulating hard coal mining and personal income tax, paving the way for a gradual restructuring of Poland’s coal sector.

    The Ministry of Finance, which prepared the proposal, said the reform aims to support copper producers as they invest in projects crucial for the energy transition, noting copper’s vital role in clean energy technologies. The tax reductions will be implemented in phases: in 2026, the coefficient used to calculate mineral extraction tax will drop from 0.85 to 0.74, followed by a further cut to 0.68 in 2027–2028.

    Earlier drafts of the legislation, presented in July, proposed even lower coefficients — 0.71 for 2026 and 0.64 for 2027–2028 — but these were adjusted during consultations. According to ministry estimates, the reduced rates will lower annual state revenues from copper and silver mining taxes by about PLN 0.5 billion (EUR 117.2 million) in 2026, and by PLN 0.75 billion (EUR 175.8 million) per year in 2027–2028.

    Separately, the draft amendment to the act on the functioning of hard coal mining and the personal income tax act will enable companies in the support system to gradually close down coal mines and pay social benefits to affected workers — a process previously blocked by legal constraints.

    The new regulatory impact assessment projects that closing down Poland’s hard coal mines over the next decade will cost PLN 11.275 billion (EUR 2.6 billion). Earlier estimates placed the cost between PLN 4.182 billion (EUR 980 million) and PLN 9.125 billion (EUR 2.1 billion).