MINEX Forum

Tag: mining

  • Chromium Leads Albania’s Mining Sector in Production and Permits

    Chromium Leads Albania’s Mining Sector in Production and Permits

    Chromium continues to be the mineral with the greatest weight in Albania in terms of the number of permits granted for exploitation, as well as the quantity produced. The annual publication by the National Agency of Natural Resourcesreveals that a total of 920 thousand tons of chrome were produced in 2023, primarily for export.

    “Albania is known for its significant potential in chrome ore compared to other Mediterranean and Balkan countries,” the report states. As of December 31, 2023, there were 236 active exploitation licenses in the chrome mining sector. Production activities are concentrated in the Bulqiza district, with around 120 active permits, followed by Kukës, Tropoja, and Hasi.

    By the end of 2023, 920,769.98 tons of chrome ore were produced, mainly for export. The main chromium deposits are located in the Ophiolites of the Eastern Belt area, stretching from Tropoja and Kukës to Bulqizë, Shebenik, and Pogradec. Lesser development has been identified in the ophiolites of the western belt.

    Geologically, chrome ore in Albania is found in three main regions:

    • Northeast Region (Ultrabasic Massif of Tropoja and Kukës);
    • Central Region (Ultrabasic Massif of Bulqiza and Lura, which is the most important);
    • Southeast Region (Shebenik-Pogradec Ultrabasic Massif).

    The publication also notes that in 2023, there were 552 active usage permits, mainly in Bulqiza, Krujë, Berat, Tirana, or Librazhd. Besides chrome, which holds the majority of active permits, limestone ranks second with 137 permits, according to the National Agency of Natural Resources.

  • Kyrgyzstan Budget Committee Approves Concept of Uranium and Thorium Mining Law

    Kyrgyzstan Budget Committee Approves Concept of Uranium and Thorium Mining Law

    The Committee on Budget, Economic, and Fiscal Policy of the Jogorku Kenesh (Parliament) of the Kyrgyz Republic today, May 27, considered and approved the draft law “On Amendments to Certain Legislative Acts of the Kyrgyz Republic (to the Code of the Kyrgyz Republic on Administrative Offenses, the Law of the Kyrgyz Republic “On Subsoil”) and the recognition of the Law of the Kyrgyz Republic “On Prohibition of Activities Related to Geological Exploration of Subsoil for the Purpose of Uranium and Thorium Deposits Exploration and Development in the Kyrgyz Republic” as no longer in force in the first reading.

    The Minister of Natural Resources, Ecology, and Technical Supervision, Melis Turgunbaev presented the information about the draft law. The Minister noted that the draft law proposes to declare the Law of the Kyrgyz Republic “On Prohibition of Activities Related to Geological Exploration of Subsoil for Uranium and Thorium Deposits Exploration and Development in the Kyrgyz Republic” dated December 14, 2019, No. 139, which prohibits activities related to geological exploration of subsoil for uranium and thorium deposits, as no longer in force. The adoption of the Law will be accompanied by monitoring by state bodies of modern technologies for uranium and thorium extraction, which will contribute to minimizing the negative impact of mineral extraction on the environment. If such technologies are identified, state bodies will introduce requirements for their implementation by subsoil users.

    During the discussion, deputies Azamat Isirailov, Aisarakan Abdybaeva, and Nadira Narmatova raised questions about mechanisms and procedures for ensuring environmental safety and protecting public health. The Minister emphasised that adopting the draft law will be accompanied by introducing and enforcing environmental protection standards by subsoil users, including minimising emissions of harmful substances, ensuring workplace safety, and compliance with norms regarding the permissible impact on water and soil resources.

    The lifting of the ban would enable the extraction of valuable minerals at 83 deposits highly demanded in the global market. Turgunbayev highlighted the Kyzyl-Ompol deposit, which holds significant reserves of titanomagnetite, with mining operations to be conducted by state-owned companies.

  • Gravitricity to Develop Underground Gravity Energy Storage Projects in Europe

    Gravitricity to Develop Underground Gravity Energy Storage Projects in Europe

    Edinburgh-based company Gravitricity has announced its plans to develop underground gravity energy storage projects for deep mine operators in Slovenia, Germany, the Czech Republic, and Finland. This innovative approach repurposes end-of-life mine shafts, which would otherwise face expensive infilling and decommissioning costs.

    Gravitricity’s energy storage system, known as GraviStore, utilizes heavy weights—up to 12,000 tonnes—suspended in deep shafts by cables attached to winches. During periods of excess electricity, such as on windy days, these weights are winched to the top of the shaft, ready to generate power when needed. The weights can be released in less than a second, with the winches acting as generators to produce electricity either in a quick burst or more gradually, depending on demand.

    The company highlighted that GraviStore offers many advantages similar to pumped storage hydro and lithium-ion batteries, but without the performance degradation that affects batteries over time. This system can operate for decades with consistent efficiency.

    Gravitricity’s current clients include the Velenje coal mine in Slovenia, owned by the government-run Premogovnik Velenje; First Quantum Minerals’ Pyhäsalmi mine in Finland, Europe’s deepest zinc and copper mine; the former Darkov mine in the Czech Republic, managed by the state enterprise DIAMO; and the Geiger Group’s Grube Teutschenthal mine in Germany.

    “Gravity energy storage presents a powerful green opportunity for mine operators, extending the life of mines beyond material extraction,” said Martin Wright, founder and executive chairman of Gravitricity. “This alternative to decommissioning provides economic and employment opportunities in communities facing the decline of traditional jobs. Our engagements with mine operators demonstrate significant interest in our technology, and we are working with both mine owners and public sector organizations to transform these plans into operational realities.”

    Gravitricity has already demonstrated its GraviStore technology with a 250kW above-ground prototype, successfully raising and lowering two 25-tonne weights to generate power and verify the system’s rapid response capabilities. The £1-million, 12-meter-high test rig proved the system can achieve full power in less than a second, making it highly valuable for frequency response and backup power markets, with the flexibility to adjust power output based on demand.

  • Expansion Underway at Navoi Mining and Metallurgical Combine

    Expansion Underway at Navoi Mining and Metallurgical Combine

    Recent updates from the press office of NGMK reveal progress within their 2024 Investment Program, focusing on the implementation of a project titled “Ore Extraction at the Gold Deposits of Kokpatas and Daugyztau (Phase III)” at the Navoi Mining and Metallurgical Combine.

    Presently, construction is underway at Hydro-Metallurgical Plant No. 3, where two new milling units are being erected to process 2 million tons of gold-bearing ore annually. This initiative aims to augment the number of milling units to eight, with an annual ore processing capacity reaching 10 million tons.

    Oibek Ashurov, Chief Technologist of the Northern Ore Management, anticipates a significant boost in production volumes upon the commissioning of the new milling units. Expansion plans include enlarging flotation, bio-oxidation, filtration, drying, and roasting workshops, facilitating further augmentation of production capacities.

    Essential equipment and spare parts for the milling units are manufactured at the Navoi Machine-Building Plant and subsidiaries of the Northern Ore Management. Construction activities are supervised by the Zarafshan Construction Management.

  • New Leader Appointed at Mining and Metallurgical Company

    New Leader Appointed at Mining and Metallurgical Company

    In a recent development, Jeanat Zhanbotin has been appointed as the new head of the mining and metallurgical company. Formerly serving as the Executive Director of Finance, Zhanbotin brings a wealth of experience and expertise to his new role.

    Born in 1980, Jeanat Dusenovich holds degrees in Mining Engineering, Economics and Finance, and a Master’s in Business Administration (MBA). His professional journey commenced in the banking sector, where he climbed the ranks from a specialist to a department head in credit management.

    Since 2007, Zhanbotin has been associated with AO “Vasilkovsky GOK,” a subsidiary of AO Altyntau Kokshetau (a subsidiary of TOO “Kazcink”). By 2021, he had assumed the position of Executive Director of Finance at “Kazcink.”

    Married with four children, Zhanbotin emphasizes his commitment to both his family and his professional responsibilities.

    Speaking on his new role, Zhanbotin acknowledges the dynamic nature of “Kazcink” within the mining and metallurgical sector, highlighting the need to address current challenges posed by global market turbulence and geopolitical uncertainties. He pledges to uphold the company’s legacy of social responsibility while navigating through these complexities.

  • Mongolia’s Push for International Bonds Amid Mining Concerns

    Mongolia’s Push for International Bonds Amid Mining Concerns

    Mongolia is actively exploring avenues to raise international bonds in a bid to bolster its economic initiatives, yet investor apprehensions loom large owing to the country’s heavy reliance on mining. With the mining sector constituting a significant portion of Mongolia’s GDP and export earnings, the nation has been a magnet for substantial foreign investments, particularly in copper, coal, and various mineral deposits. However, this reliance on mining exposes Mongolia to inherent risks, exacerbated by frequent government policy shifts, which only serve to deepen uncertainties.

    The recent amendment to Mongolia’s Minerals Law by the parliament has added another layer of concern for investors. The revised law places stringent restrictions on project owners, limiting their ownership to a maximum of 34%, while empowering the government to claim up to 50% of a project without cost. Furthermore, project owners are mandated to divest their remaining stakes to third parties within a year. Such drastic measures have the potential to deter prospective investors and tarnish Mongolia’s image as an attractive investment destination.

    Compounding these worries is the uncertainty surrounding the government’s capacity to honor bond repayments, a recurring issue in the nation’s financial history. Previous commodity price downturns prompted the Ministry of Finance to undergo multiple rounds of bond restructuring, sparking apprehensions among investors about Mongolia’s fiscal sustainability.

    To assuage investor concerns and successfully issue bonds on favorable terms, Mongolia must prioritize reinforcing its legal and economic foundations. While diversifying the economy remains a strategic imperative, sustainable diversification hinges on fostering responsible mining practices. Consequently, supporting the mining industry emerges as a critical necessity. By instituting transparent and predictable regulatory frameworks that instill confidence among investors, Mongolia can harness the full potential of its mining sector while fortifying long-term financial stability. Such measures will lay the groundwork for future development, facilitating diversified growth across diverse economic sectors.

  • Umicore and STL1 Forge Exclusive Partnership for Germanium Valorization

    Umicore and STL1 Forge Exclusive Partnership for Germanium Valorization

    In a groundbreaking development for the mining sector in the Democratic Republic of Congo (DRC), Umicore, a global leader in materials technology and recycling, has inked an exclusive, long-term partnership agreement with STL1, a subsidiary of Gécamines. This partnership is set to revolutionize the valorization of germanium extracted from the Big Hill2 tailings site located in Lubumbashi, DRC.

    Under the terms of the agreement, Umicore will lend its expertise to optimize STL’s newly established processing facility at the Big Hill site. Leveraging its refining and recycling proficiency, Umicore aims to enhance the extraction process of germanium, a critical metal used in high-tech applications. In return, Umicore secures exclusive access to the processed germanium for its material solutions production.

    STL, over the years, has been extracting metals including zinc, silver, cobalt, copper, and germanium from the Big Hill’s extensive reserves. With a century’s worth of mining activity contributing to 10 million tons of metals-containing slags, STL’s focus now shifts to maximizing the value derived from these resources within the DRC. This strategic move aligns with its commissioning of a new hydro-metallurgical facility in 2023, aimed at optimizing the valorization of germanium concentrates.

    The collaboration between Umicore and STL marks a significant milestone in enhancing the local mining industry’s capabilities. The partnership not only promises to diversify Umicore’s germanium supply sources but also ensures a steady, multi-annual offtake of substantial volumes, bolstering the resilience of the supply chain.

    The commencement of refining operations by Umicore is slated for the final quarter of 2024, with subsequent plans for ramping up STL’s germanium extraction capacities. Umicore’s Electro-Optic Materials (EOM) Business Unit stands to benefit from this agreement, as it specializes in utilizing and recycling germanium for optical and electronic applications such as fiber optics, solar cells, and electronics.

    Moreover, the collaboration extends beyond operational and technical support, with Umicore committed to skill development initiatives to analyze germanium content in tailings for recycling purposes. This aligns with STL’s ambitions to expand downstream germanium product offerings while adhering to the highest Environmental, Social, and Governance (ESG) standards.

    The partnership holds promise for stimulating economic growth, creating job opportunities, and fostering skill development within local communities. Mathias Miedreich, CEO of Umicore, emphasized the significance of the agreement in advancing circular business models and contributing to the local economy through sustainable resource utilization.

    In echoing the sentiment, Guy Robert Lukama, Chairman of Gécamines SA/STL, underscored the strategic importance of the partnership in realizing the organization’s vision to emerge as a major player in strategic minerals processing. He highlighted the potential for job creation and economic empowerment, emphasizing the pivotal role of partnerships in driving industrial revolution and energy transition agendas.

    Grant Dempsey, General Manager of STL, reiterated the transformative impact of the collaboration, emphasizing its potential to bolster the local economy, industry, and environment. The partnership, he noted, will not only enhance operational efficiency but also contribute to emission reductions and resource optimization across various sectors.

  • Uranium Deposit Discovered in Southern Poland’s Świętokrzyskie Region

    Uranium Deposit Discovered in Southern Poland’s Świętokrzyskie Region

    Świętokrzyska Industrial Group Industria (ŚGP Industria) has confirmed the presence of uranium in a deposit located within the Świętokrzyskie Region in southern Poland. The company intends to conduct further exploratory work to ascertain the size of the deposit and suitable extraction methods. While the exact location remains undisclosed, detailed assessments in the coming months will focus on determining the deposit’s magnitude and optimal exploitation techniques.

    According to estimates by the International Atomic Energy Agency, Poland harbors around 100,000 tons of natural uranium, with only 7,000 tons confirmed thus far. ŚGP Industria secured an exploratory concession from the Ministry of Climate and Environment for a polymetallic deposit containing uranium in the region.

    The verification of uranium presence in the deposit follows extensive efforts by the company. Subsequent exploration endeavors will aim to precisely delineate the composition of various elements within the deposit, its dimensions, and potential extraction methodologies.

    Szczepan Ruman, president of the Board of ŚGP Industria, expressed satisfaction with the progress, emphasizing the significance of the discovery for mining development in the Świętokrzyskie Region and Poland’s access to critical raw materials, particularly uranium for the nuclear sector. Ruman highlighted the discovery’s importance in fostering cooperation with Rolls-Royce for the implementation of small modular reactors (SMRs) in Poland.

    The company’s research drew upon documents from the National Geological Archive of the State Geological Institute in Warsaw, incorporating data from the Soviet atomic program and uranium exploration activities in the Świętokrzyskie Mountains during the 1950s.

  • “Tau-Ken Samruk” at MINEX Kazakhstan 2024

    “Tau-Ken Samruk” at MINEX Kazakhstan 2024

    The 14th MINEX Kazakhstan Mining and Geological Forum opened today in Astana. The central theme of the forum is “Sustainable Development of the Mining Industry for the Benefit of Society and the Environment.”

    Approximately 120 speakers are scheduled to participate, including representatives from government agencies, international organizations, domestic and foreign mining companies, institutional and private investors, technological and consulting companies, the financial sector, industry associations, and more.

    Bakyt Chirchikbayev, Chairman of the Board of the National Mining Company “Tau-Ken Samruk,” spoke at the plenary session “Drivers of Development of the Mining and Metallurgical Industry in Kazakhstan.” He discussed the company’s priority projects and plans for further development, particularly focusing on the transfer of 100% of the shares of Kazgeology JSC to Tau-Ken Samruk. Chirchikbayev highlighted several advantages that partners could gain from this integration, stating, “The integration of Kazgeology into the structure of Tau-Ken Samruk will expand the potential scope of cooperation with existing and future partners, as Tau-Ken Samruk specializes not only in geological exploration but also in the further development of projects, including construction and production stages.”

    Chirchikbayev also emphasized that geological exploration projects remain a priority: “We plan to continue implementing current projects with partners and simultaneously study all available historical and modern geological information to identify prospective areas. Already, our geologists have made significant progress in this direction.”

    Aspects of international cooperation in geological exploration, mining, processing, and the creation of supply chains for uranium and materials critical for “green” energy technologies were discussed in a separate session of the MINEX Kazakhstan forum.

    Nariman Absametov, Chief Business Development Officer of the National Mining Company, outlined the main areas of focus for Tau-Ken Samruk regarding critical minerals. Firstly, work continues on the development of economically efficient ore enrichment technology at the largest domestic tungsten deposit, Upper Kayraktinsky. Research into the prospects of heap leaching has begun, and this year will see large-scale laboratory studies. If successful, the next step will be pilot technological tests.

    Simultaneously, the National Mining Company is exploring the reconnaissance of rare and rare-earth metals in the Akbulak area of the Kostanay region. Geological exploration is planned to begin soon in collaboration with the American company Cove Capital, with the relevant agreement already signed.

  • Chinese Mining Company Plans to Elevate Copper and Gold Operations in Serbia

    Chinese Mining Company Plans to Elevate Copper and Gold Operations in Serbia

    Zijin Mining, a prominent Chinese mining company, announced its ambitious plans on Wednesday to enhance copper and gold operations in Serbia, aiming to position the Balkan nation as the primary copper producer in Europe. Chen Jinghe, the chairman of Zijin Mining, revealed the company’s strategy to achieve an annual production target of at least 250,000 tonnes of copper and 10 tonnes of gold from its Serbian operations, indicating a slight increase from the previous year. Emphasizing a shift towards underground mining development, Chen articulated the company’s future investment direction during a press briefing.

    Zijin Mining, renowned for its significant contributions to the gold and copper industry in China, solidified its partnership with Serbia’s RTB Bor mining operation in 2018. The move aligns with China’s broader economic engagement in Serbia and neighboring Balkan countries, reflecting Beijing’s concerted efforts to expand its economic influence across central and eastern Europe. The increasing significance of China to Serbia’s economy was underscored by the country’s Minister of Trade, who ranked China as Serbia’s second most vital economic partner after the EU. This sentiment anticipates a potential visit by Chinese President Xi Jinping later in the year.

    In terms of trade, Chinese-owned enterprises emerged as dominant exporters in Serbia, with Zijin Mining leading the pack, followed by Zijin Copper and the HBIS group. Together, these entities accounted for a notable share of Serbia’s total exports, contributing approximately 8.7 percent to the country’s export revenue in the previous year. Furthermore, Serbia witnessed a substantial influx of foreign investment in 2023, with China emerging as the foremost investor, injecting 1.37 billion euros into various sectors, consolidating its position as a key economic stakeholder in the nation.

    However, amidst governmental praise and economic advancements, communities residing near the expansive mining facilities in Bor have voiced persistent opposition to the projects, staging protests since January. Demonstrations frequently disrupt local transportation routes, reflecting ongoing tensions surrounding environmental concerns and community welfare.