MINEX Forum

Tag: mining

  • Navoi Mining Secures ESG Rating, Reinforcing Sustainability Commitment

    Navoi Mining Secures ESG Rating, Reinforcing Sustainability Commitment

    Navoi Mining & Metallurgical Company (NMMC), the world’s fourth-largest gold producer, has received its first Environmental, Social, and Governance (ESG) Entity rating from Sustainable Fitch. The company was assigned a rating of ‘3’ on a five-point scale, where ‘1’ indicates low risk and ‘5’ represents high risk, with an overall entity score of 51 out of 100.

    The rating reflects an in-depth evaluation of NMMC’s sustainability initiatives, corporate governance standards, and environmental and social performance. The company’s environmental and social metrics earned a rating of ‘3,’ acknowledging strong internal policies on emissions and water management, an absence of major environmental incidents, and a low gender pay gap. Its corporate governance received a rating of ‘2,’ highlighting adherence to international financial reporting standards, robust internal audits, and a structured risk management framework.

    NMMC’s ESG rating aligns with global mining industry standards, considering the sector’s environmental footprint, high resource consumption, and waste generation. Notably, NMMC is the first mining company in Uzbekistan to secure a public ESG rating, reinforcing its leadership in sustainability and transparency.

    Eugene Antonov, First Deputy CEO and Head of Transformation at NMMC, emphasized the company’s commitment to ESG principles as part of its ongoing transformation program. He also noted that Uzbekistan’s designation of 2025 as the “Year of Environmental Protection and the Green Economy” aligns with NMMC’s sustainability goals under the national “Uzbekistan-2030” strategy.

    Boris Samoylenko, Head of ESG at NMMC, stated that the rating validates the company’s efforts to integrate sustainable practices while setting a benchmark for future improvements in ESG performance.

  • Kazakhstan’s Coal Industry Advocates to Remain Under Industrial Ministry

    Kazakhstan’s Coal Industry Advocates to Remain Under Industrial Ministry

    Kazakhstan’s coal industry should remain under the Ministry of Industry and Construction rather than being transferred to the Ministry of Energy, according to the Association of Mining and Metallurgical Enterprises (AMME). The proposal was voiced by AMME representative Tulegen Mukhanov during a ministry meeting.

    Mukhanov emphasized that the Ministry of Industry plays a crucial role in developing the sector, addressing export challenges, railway logistics, and ensuring the timely supply of coal for communal and residential needs during the heating season.

    Additionally, the ministry has worked with mining enterprises, research institutions, and potential investors to develop a national coal chemistry industry program. As part of this initiative, a scientific and technical center for coal chemistry is planned at the Institute of Coal Chemistry and Technology.

    Upon learning of the government’s intention to transfer oversight of the coal sector to the Ministry of Energy, AMME conducted a survey among mining companies. The respondents unanimously opposed the move and expressed their willingness to appeal directly to the Prime Minister and the President.

    Although Kazakhstan’s coal industry was previously under the Ministry of Energy, it was later separated—a structure that coal companies now wish to maintain. They argue that the Energy Ministry already oversees multiple sectors, while the current arrangement under the Ministry of Industry is more effective.

  • Kazakhstan and Japan Strengthen Cooperation on Critical Minerals

    Kazakhstan and Japan Strengthen Cooperation on Critical Minerals

    Kazakhstan’s Minister of Industry and Construction, Kanat Sharlapaev, met with representatives of Japan’s International Cooperation Agency (JICA) and the Japan Organization for Metals and Energy Security (JOGMEC) to discuss future collaboration on critical minerals.

    JICA has supported Kazakhstan since 2011, helping establish the country’s State Energy Registry based on Japanese expertise. Meanwhile, JOGMEC signed a memorandum with Kazakhstan in August 2024 on geological exploration, mining, and mineral processing.

    The meeting focused on expanding joint projects related to critical minerals essential for industrial and energy sectors. Kazakhstan aims to strengthen international partnerships in rare earth metals to boost investment appeal and integrate advanced geological exploration technologies.

  • KAZ Minerals Bozshakol to Extract Over 6 Million Tons of Construction Materials by 2029

    KAZ Minerals Bozshakol to Extract Over 6 Million Tons of Construction Materials by 2029

    KAZ Minerals Bozshakol, controlled by Kazakh businessmen Vladimir Kim and Oleg Novachuk, plans to extract 6.076 million tons of crushed and gravelly soil, as well as gravelly sand, from the Northern deposit between 2025 and 2029. This volume represents the site’s entire balance reserves.

    The Northern deposit, located 60 km west of Ekibastuz in Pavlodar Region, covers 169.9 hectares. Excavation will be carried out using heavy machinery, with materials transported for constructing embankment dams at the Bozshakol copper mine. Workers will reside in a shift camp, and operations will require 2,280 cubic meters of diesel fuel.

    Bozshakol is one of KAZ Minerals’ key sites, producing 79,200 tons of copper in January–September 2024. In comparison, Aktogay contributed 172,200 tons, while operations in East Kazakhstan and Kyrgyzstan produced 35,600 tons.

    Vladimir Kim, who owns 63.5% of KAZ Minerals, ranks fourth among Kazakhstan’s richest individuals, with a net worth of $3.6 billion (Forbes) or $7.23 billion (Bloomberg). Oleg Novachuk, with a 36.5% stake, has an estimated wealth of $265 million.

  • Kazakhstan to Develop AI-Powered Geological Data Platform

    Kazakhstan to Develop AI-Powered Geological Data Platform

    The Ministry of Industry and Construction of Kazakhstan has convened a scientific and technical council meeting to discuss promising research in the mining sector. One of the key initiatives approved was the creation of a digital platform for geological data, which will utilize artificial intelligence to analyze information.

    This innovative system aims to reduce exploration costs, improve the accuracy of deposit forecasting, and accelerate exploration timelines. The implementation of this platform is driven by the industry’s ongoing need for digitized geological data to support efficient resource planning.

    In addition to digitalization efforts, the council reviewed research projects from major industry players, including Sokolov-Sarbai Mining and Processing Production Association (SSGPO) and Kachary Ruda, both subsidiaries of ERG. Key research areas include developing methods for pre-reducing ore from the Sarbai deposit, improving carbon-based reductants and exploring alternatives, enhancing the quality of pelletizing ore from the Sokolov deposit, and optimizing the processing of refractory ores from the Kachary deposit.

    The discussion also focused on the introduction of “green” technologies in the mining and metallurgical industry, particularly at the Korzhankul deposit. Experts believe that adopting environmentally friendly solutions will reduce the industry’s environmental footprint and enhance its long-term sustainability.

    Additionally, the council approved a new scientific program by Kazakhmys, which aims to implement high-efficiency reagents to improve the processing of copper ores at the Balkhash Processing Plant.

    The outcomes of the meeting highlight Kazakhstan’s commitment to modernizing its mining sector through digital technologies, scientific advancements, and environmentally sustainable practices.

  • Arras Minerals Reports Significant Gold Intersections at Elemes Project

    Arras Minerals Reports Significant Gold Intersections at Elemes Project

    Arras Minerals Corp. has announced further positive drill results from its ongoing exploration at the Elemes project in Northeast Kazakhstan. The latest findings reveal substantial gold and copper mineralization, reinforcing the project’s potential for large-scale development.

    A highlight of the program is drill hole EL24004 at the Berezski East target, which intersected a significant 304.8-meter zone grading 0.54 g/t gold-equivalent (AuEq), starting from just 1.2 meters below surface. Within this, a higher-grade section of 37.8 meters returned 1.50 g/t AuEq, suggesting the possibility of a sizeable open-pit gold deposit. A deeper zone within the same hole also yielded 50 meters at 0.45 g/t AuEq from a depth of 210 meters.

    At the K-Ozek target, drill hole EL24009 intersected several gold-bearing quartz veins, with a notable interval of 2 meters grading 1.55 g/t AuEq. This supports the presence of a high-grade low-sulphidation epithermal vein system. Meanwhile, drill hole EL24008 at a separate target returned 128 meters of mineralization grading 0.10 g/t AuEq, indicating broader but lower-grade mineralized zones.

    The Elemes project, located in the Bozshakol-Chingiz Magmatic Arc, is positioned near the Bozshakol Copper Mine, one of the largest copper-gold operations in the region. The Phase 1 drill program, which began in September 2024 and concluded in December, has focused on high-priority targets identified through extensive exploration, including geophysical surveys and soil sampling.

    Commenting on the results, Arras Minerals CEO Tim Barry expressed optimism about the project’s potential, particularly at Berezski East. “The continuous near-surface gold mineralization in EL24004 is a major step forward. The results indicate the presence of a large mineralized system that could support an open-pit operation,” Barry stated. President Darren Klinck added that the findings reinforce the Elemes project’s potential to host significant copper and gold mineralization.

    With these encouraging results, Arras Minerals plans to continue its exploration efforts, refining its understanding of the mineralized zones and identifying further opportunities for resource expansion.

  • Romanian Government Extends Mining Licenses and Regulates Mineral Deposits

    Romanian Government Extends Mining Licenses and Regulates Mineral Deposits

    The Romanian government has approved key legislative measures to regulate mineral exploitation across various regions, including Alba and Bistrița-Năsăud counties. Among the decisions is the registration of the Dealul Jgheabului and Pârâul Româneasa deposits as state public property, aligning with the country’s Mining Law.

    Additionally, the government extended the exploitation license for the Roșia Poieni mining perimeter by five years, until January 31, 2030. This move allows SC CUPRU MIN SA Abrud to continue extracting copper ore, limestone, and andesite under updated technical and economic conditions.

    Similarly, the mining licenses for dacite exploitation in the Tunel I – Măgura Ilvei and Poiana Ilvei – Măgura Sturzii perimeters have been extended for five years, with the possibility of successive renewals. These licenses, held by Romcim SA, ensure continued extraction activities within their respective areas.

    The license extensions include adjustments to mining royalties in accordance with recent legislative updates. These decisions reflect the government’s strategy to regulate and support mining operations while maintaining state control over critical mineral resources.

  • EU’s Pro-Business Roadmap Emphasises Mining Amid Economic Shift

    EU’s Pro-Business Roadmap Emphasises Mining Amid Economic Shift

    On Wednesday  29 January 2025, the European Union introduced a pivotal roadmap aimed at making Europe more business-friendly after years of prioritising green goals. With US President Trump’s aggressive trade policies and China’s technological advancements, the EU seeks to bolster growth by alleviating corporate burdens.

    “We need to reignite Europe’s innovation engine,” EU chief Ursula von der Leyen told a news conference to present the “competitiveness compass” — the first major initiative of her second mandate.

    Specific measures proposed:

      • Creating a new legal regime for innovative companies across the EU
      • Facilitating long-term energy agreements and grid investments
      • Providing targeted aid for industrial decarbonisation
      • Revising competition rules to allow creation of European tech giants
      • Promoting more mining in Europe for critical raw materials
      • Removing barriers in the EU single market for key sectors
      • Creating a “European savings and investments union” to boost startup funding

    The plan aims to streamline regulations, reduce energy costs for businesses, and support the development of green technologies. To achieve this, the EU will revise numerous laws, including those related to environmental standards and supply chains, to reduce the burden on companies.

    A key element of the strategy is to increase the EU’s self-sufficiency in critical raw materials, such as rare earths, which are essential for many advanced technologies. The EU currently relies heavily on imports from China and other countries for these materials.

    To address this dependency, the EU plans to encourage more mining within its borders. The European Commission has already received 170 mining projects and aims to facilitate the permitting process. The plan also includes provisions for joint purchases of critical raw materials and international partnerships to secure supply lines.

    This initiative has sparked concerns from environmental groups, who worry that it could lead to the weakening of environmental protections. However, the EU maintains that it remains committed to its climate goals, including achieving carbon neutrality by 2050.

    The EU’s new plan reflects the growing global competition for resources and technological dominance. By focusing on mining and streamlining regulations, the EU aims to strengthen its industrial base and secure its position in the global economy.

  • Kazakhstan Intensifies Search for Rare Earth Metals

    Kazakhstan Intensifies Search for Rare Earth Metals

    Kazakhstan continues exploration efforts across 12 sites as part of a government initiative to study mineral resources and boost the development of the rare earth metals sector.

    According to Kanat Sharlapayev, the Kuyrektikol site in the Karaganda region has shown significant promise, with reserves estimated at approximately 800,000 tons and forecasted resources reaching 935,400 tons of rare earth metals, including cerium and lanthanoids.

    Private companies like Cove Capital and HMS Bergbau are spearheading these exploration activities. Sharlapayev noted that the Ministry of Industry is actively working to declassify reserve data, excluding osmium and rhenium, to attract investment and enhance the sector’s development potential. This initiative is expected to be completed by the end of 2024.

    Currently, Kazakhstan boasts 15 rare earth deposits, 11 of which are under subsoil use agreements. Key deposits include Melovoye, Tomak, Taybogar, Tasmuryn, Kundybay, Akbulakskoye, Dzhamschi, Moynkum, Inkay, Akdala, Kanjugan, Mynkuduk, and Budenovskoye.

  • Kazakhstan Reaffirms Commitment to EITI Standards and Modernizes Mining Sector

    Kazakhstan Reaffirms Commitment to EITI Standards and Modernizes Mining Sector

    During a discussion, President Kassym-Jomart Tokayev emphasized Kazakhstan’s dedication to the Extractive Industries Transparency Initiative (EITI) since joining the organization in 2007. He noted that Kazakhstan has legislatively mandated subsoil users to comply with the organization’s standards, including reporting on taxes and other payments to the national budget.

    President Tokayev informed the head of EITI, Helen Clark, about regulatory measures aimed at enhancing the country’s geological exploration and mining industries. Key initiatives include the adoption of a Comprehensive Development Plan, the launch of a Unified Subsoil Use Platform featuring an interactive map and access to more than 50,000 geological reports, and streamlined processes for obtaining exploration and production licenses.

    In response, Helen Clark shared the strategic priorities of EITI for the coming period and praised Kazakhstan’s efforts to improve legislation in line with transparency standards for the extractive sector.