MINEX Forum

Tag: mining

  • Kazakhstan to invest $500 million in high-resolution geological mapping to boost mineral exploration

    Kazakhstan to invest $500 million in high-resolution geological mapping to boost mineral exploration

    Kazakhstan’s government is launching a new phase of subsoil exploration aimed at significantly expanding geological coverage using modern prospecting methods, in line with instructions from President Kassym-Jomart Tokayev.

    As part of this effort, 20 projects were developed last year to carry out geological mapping at a scale of 1:50,000 across a total area of 100,000 square kilometres, with plans to cover an additional 30,000 square kilometres of the most prospective areas each year. This represents a major increase in detail compared with the Soviet-era standard of 1:200,000 mapping.

    Over the next three years, the government plans to allocate 240 billion tenge, or around $500 million, to implement these projects, conduct seismic surveys in poorly studied sedimentary basins, and build modern geological infrastructure. By comparison, total investment in the sector over the past 15 years amounted to $469 million.

    The programme includes analysis of remote sensing data, aerogeophysical and geochemical surveys, and extensive fieldwork. Areas were selected based on factors such as reserve depletion, the absence or minimal presence of subsoil users, and potential for priority minerals. The identified zones show high prospects for discoveries of copper, gold, lead, zinc, rare earth elements, barite and bauxite.

    Seismic exploration is also planned in underexplored oil and gas basins, including the North Torgai, Shu-Sarysu and Syrdarya regions. In parallel, Kazakhstan intends to modernise its laboratory and analytical base and continue the digitalisation of geological data.

    According to the government, the shift to detailed geological mapping at this scale will significantly improve the accuracy of geological forecasts and align Kazakhstan with international best practice seen in the European Union, Canada, Australia and China. Detailed regional mapping is viewed as a foundation for identifying promising areas, reducing geological and investment risks, and attracting private investment into exploration and mining.

  • Portugal Emerges as Potential Hub for Critical Minerals as Exploration Intensifies

    Portugal Emerges as Potential Hub for Critical Minerals as Exploration Intensifies

    Europe is closely monitoring developments in Portugal as private companies carry out preliminary studies to assess the presence of critical minerals beneath the country’s surface. The growing interest is driven by the need to secure supplies of rare earths and other strategic elements essential for modern technologies, amid efforts by the European Union to reduce its dependence on China.

    Brussels has already fast-tracked several extractive projects linked to critical raw materials, and new geological data suggest that Portugal’s resource potential may be broader than previously assumed. According to Luís Martins, a geologist at Portugal’s National Laboratory for Energy and Geology (LNEC), the country is on the verge of a new mining-driven transformation. He noted that Portugal has strong expertise in mining and environmental management compared with many other European states.

    Exploration activities, including test drilling, are currently underway in parts of the Alentejo and the Northwest Transmontano regions, such as Moncorvo, an area with a long mining history. Martins stressed, however, that commercial extraction remains a distant prospect, explaining that rare earth elements are often associated with iron deposits, as seen in Moncorvo.

    In the Alentejo, areas including Monforte-Tinoca, Assumar, Crato-Arronches, and Penedo Gordo have already revealed the presence of highly sought-after elements. These include zircon, hafnium, titanium, niobium, tantalum, yttrium, and scandium. While not all of these minerals fall strictly within the rare earth category, many are classified as strategic or critical, heightening EU interest.

    Martins explained that rare earth elements comprise 17 chemical elements, including the 15 lanthanides as well as scandium and yttrium, which share similar chemical properties and often occur in the same deposits. These materials are vital for a wide range of industrial and technological applications due to characteristics such as magnetism, luminescence, and electrical resistance.

    The prospect of expanded mining activity raises concerns about environmental impacts, landscapes, and traditional rural livelihoods. Resistance has already been seen in northern Portugal, where communities have opposed lithium mining projects. Despite this, Martins believes economic considerations are likely to prevail. He pointed to two major untapped gold deposits in Montemor and Jales/Gralheira, which together could yield up to one million ounces of gold, currently valued at approximately 3.6 billion euros.

  • Tahltan Nation Backs IBA for Skeena’s Eskay Creek Gold-Silver Project

    Tahltan Nation Backs IBA for Skeena’s Eskay Creek Gold-Silver Project

    The Tahltan Nation has voted in favor of the Impact Benefit Agreement linked to the development and future operation of Skeena Resources’ Eskay Creek gold and silver project in British Columbia. Support for the agreement was confirmed following a referendum held among Tahltan Nation members.

    Skeena, which is dual-listed and owns the Eskay Creek project outright, said the IBA sets out a comprehensive framework for shared benefits between the company and the Tahltan Nation. These include employment and business opportunities for Tahltan members and enterprises, training and education programs aimed at building long-term capacity, funding for a facility to support Tahltan elders, and meaningful financial participation in the project.

    The company noted that a decision by the Tahltan central government board on whether to formally grant consent for the Eskay Creek project is expected to be considered in January 2026.

    Skeena executive chairperson Walter Coles said the ratification of the agreement reflects extensive collaboration and trust between the parties, adding that the IBA establishes new industry benchmarks for First Nation involvement in environmental protection and benefit-sharing. Senior vice president of external affairs Justin Himmelright подчеркнул, что соглашение рассматривается как основа долгосрочного и содержательного партнерства, подчеркнув значительную роль Tahltan Nation в формировании экологических, культурных и экономических приоритетов проекта.

    According to Skeena, the agreement formalizes years of cooperation and is intended to ensure that Tahltan values are embedded throughout the life of the Eskay Creek project.

  • KGHM Signs Impact and Benefit Agreement with Sagamok Anishnawbek for Canadian Mine Project

    KGHM Signs Impact and Benefit Agreement with Sagamok Anishnawbek for Canadian Mine Project

    Polish mining group KGHM has signed an impact and benefit agreement with the Sagamok Anishnawbek First Nation in Canada as part of plans to develop a new copper and nickel mine in Ontario. The agreement relates to the Victoria project, located about 35 kilometers west of the city of Sudbury.

    The arrangement provides for the participation of Sagamok Anishnawbek members in various stages of the project, including mine development and environmental protection activities. The agreement was signed last week by Sagamok Anishnawbek Chief Angus Toulouse and Marek Bednarz, chief executive officer of KGHM International, the Canadian subsidiary of KGHM Polska Miedź.

    KGHM, whose largest shareholder is the Polish state, is one of Poland’s largest industrial companies and among the world’s leading producers of copper and silver. The company acquired the Victoria copper and nickel deposit in 2012 but suspended development for several years due to declining mineral prices. The project was revived approximately three years ago as market conditions improved.

    According to KGHM Polska Miedź CEO Andrzej Szydło, the agreement represents a key milestone in advancing the Victoria project and demonstrates the company’s commitment to social dialogue and maintaining strong relations with local communities. KGHM also noted that it has worked with the Sagamok Anishnawbek for more than a decade during exploration activities and throughout the permitting process.

    The company said the agreement is intended to ensure stable cooperation throughout the mine’s entire lifecycle, from construction and production to eventual closure. It also provides tangible economic and development benefits for the Sagamok Anishnawbek community and guarantees its involvement in environmental protection measures linked to the project.

    The signing comes amid broader efforts by Canadian and Ontario authorities to attract international investment into the mining sector. At the same time, analysts have highlighted the importance of Indigenous consent, noting that First Nations have historically borne disproportionate environmental and social impacts from mining developments.

  • East Star and Xinhai Agree on Joint Development of Verkh-Uba Copper Project in Kazakhstan

    East Star and Xinhai Agree on Joint Development of Verkh-Uba Copper Project in Kazakhstan

    UK-listed East Star Resources Plc has announced that it has signed a preliminary agreement with China’s Xinhai Mining Services Limited to jointly develop the Verkh-Uba copper deposit in Kazakhstan.

    Under the terms of the agreement, Xinhai Mining Services will lead the phased development of the project, which is estimated to require investments of around 65 million US dollars. The parties expect to finalize and sign a binding agreement within the next six months.

    The Chinese partner will fully finance all stages of project development, including approximately 5000 meters of additional drilling to refine resource estimates and the construction and commissioning of a mining and processing facility with an annual capacity of 1 million tonnes. As investment volumes increase at each stage, Xinhai’s stake in the joint venture will rise from an initial 15 percent to as much as 70 percent.

    East Star noted that the involvement of a strategic partner will reduce project risks and accelerate development timelines. The joint venture will also allow the company to redirect its efforts toward the discovery and evaluation of additional deposits, as East Star holds several other promising gold and copper licenses. These include the Talovskoye and Rulikhinskoye sites, with the latter estimated under JORC standards to contain 23 million tonnes of copper ore at an average grade of 2.4 percent.

    In Kazakhstan, East Star focuses on the exploration of gold and base metals and has been conducting exploration activities for more than three years at three sites: Verkh-Uba, Talovskoye, and Snezhnoye. In February 2025, the company reported the identification of additional base metal resources, with JORC-compliant estimates for Verkh-Uba at that time placing resources at 20.3 million tonnes of ore containing 1.16 percent copper, 1.54 percent zinc, and 0.27 percent lead.

  • Scania and LKAB Unleash “Sleipner”

    Scania and LKAB Unleash “Sleipner”

    Scania and LKAB have taken their collaboration to the next level with the introduction of a new fully electric 8×4 heavy tipper truck at LKAB’s Malmberget mine in northern Sweden. This groundbreaking vehicle, named “Sleipner” after Odin’s legendary eight-legged horse, is the first Scania electric truck to feature two steerable front axles. It has been designed to tackle the rigorous demands of mining transport, offering improved stability and load-bearing capabilities on tough mine roads.

    Sleipner represents a significant milestone in Scania’s commitment to electrifying heavy-duty transportation in challenging environments. With a total weight of 60 tonnes—38 tonnes of which is payload—the electric truck replaces its internal combustion counterpart, offering an eco-friendly alternative for transporting waste rock at LKAB’s mining operations.

    Powered by two MP20 battery packs with 416 kWh capacity, and a 400 kW electric motor, Sleipner has been built on Scania’s modular electric platform. This technology enables the vehicle to haul materials over a 5 km route with a 250-meter elevation gain while achieving substantial CO₂ savings. If successful, Sleipner could provide LKAB with a fully fossil-free solution for their transport needs, a major step in meeting their sustainability goals.

    “This vehicle is just the start of many more mining solutions to come,” said Tony Sandberg, Head of Scania Pilot Partner. The vehicle is the latest in a series of electric trucks operating at the Malmberget mine, demonstrating how Scania’s electric technology can be adapted for the toughest of environments.

  • Kyrgyzstan Unveils Critical Minerals Strategy at MINEX Eurasia Conference in London

    Kyrgyzstan Unveils Critical Minerals Strategy at MINEX Eurasia Conference in London

    London, 1 December 2025 – The MINEX Eurasia conference in London hosted a keynote address by H.E. Meder Mashiev, Minister of Natural Resources, Ecology, and Technical Supervision of Kyrgyzstan, outlining the country’s strategic vision for its critical minerals sector.

    Kyrgyzstan’s Strategic Minerals Vision

    The Minister outlined Kyrgyzstan’s methodical approach to prioritising and developing its critical minerals sector, identifying 21 key minerals based on global demand, local deposits, and resource concentrations. Kyrgyzstan’s analysis resulted in the selection of 4 priority projects, 5 promising deposits, and 16 prospective areas for further study and development. These assets, spread across antimony, beryllium, rare earths, molybdenum, bismuth, zinc, silver, and others, offer significant commercial and strategic potential for investors and end-users in energy, electronics, and high-value manufacturing.

    Investment and Development Framework

    State companies, notably Kyrgyzgeology, are driving exploration and project development, supported by government incentives and openness to international partnership. Strategic sites are being actively promoted for joint ventures or direct investment. Major domestic and international firms manage several large sites, while more than 100 mining enterprises operate in the country—spanning gold, copper, and polymetallic ores.

    Tax and Licensing Regime

    The session detailed Kyrgyzstan’s tax policy, which includes a mix of one-time bonuses for mining rights, royalties, profit tax, and VAT. The overall effective tax burden stands between 25–30%, complemented by social and environmental levies such as waste disposal, emissions, and water usage fees. Procedures for subsoil use licensing are harmonized with those in neighbouring countries, with initiatives being considered to simplify the processes and make it more transparent.

    ESG, Transparency, and Sustainable Mining

    Kyrgyzstan’s evolving strategy strongly emphasizes environmental, social, and governance (ESG) standards, aiming to foster responsible mineral development, minimize ecological impact, ensure transparency, and maximize benefits for local communities. The new strategy promotes the deployment of advanced technologies, environmental sustainability, and transparent investment processes, aligning with best practices to attract reliable, long-term partners.

    Opportunities for International Partnership

    Kyrgyzstan welcomes active collaboration with global investors and mining enterprises, seeking to leverage modern mining technologies, improve environmental outcomes, and maximize economic benefits. The country’s critical mineral strategy is closely linked to green growth targets and broader Eurasian supply chain integration.

  • Kazakhstan Registers Five New Mineral Deposits Following 2025 Exploration Campaign

    Kazakhstan Registers Five New Mineral Deposits Following 2025 Exploration Campaign

    Kazakhstan has added five new deposits to its state mineral register based on geological exploration conducted in 2025, Vice Minister of Industry and Construction Iran Sharkhan announced during a government meeting on the development and digitalization of the country’s geological sector.

    The newly identified deposits—Altyn-Shoko, Samombet, Studenchesky, Takyr-Kaldzhir and Kok-Zhon at the Bolattobe site—have expanded the national mineral base by approximately 98 tonnes of gold, 36,000 tonnes of copper, 11 million tonnes of manganese and more than 1.3 million tonnes of phosphorites.

    Kazakhstan currently holds 103 types of mineral resources and around 10,000 deposits on the state balance. More than 2,900 licenses have been issued to subsoil users, along with 250 contracts for the development of solid minerals.

    From 2026 to 2028, geologists plan to survey an additional 100,000 square kilometers, followed by annual exploration covering 30,000 square kilometers through 2030. The government has allocated 240 million tenge to form a portfolio of 20 potential investment projects, aiming to improve early-stage discovery and increase overall efficiency of geological works.

    To support advanced scientific methods in exploration, the government approved the creation of a specialized laboratory within a geological cluster in Astana. Construction is scheduled to begin in 2026, enabling comprehensive mineral-geochemical and analytical research.

  • Kazakhstan’s Mining Sector Enters New Era as Dual AIX–Hong Kong IPO Signals Rising Global Integration

    Kazakhstan’s Mining Sector Enters New Era as Dual AIX–Hong Kong IPO Signals Rising Global Integration

    Kazakhstan’s mining industry took a major step toward global capital market integration in the summer of 2025 with the dual listing of Jiaxin International Resources Investment Limited on the Astana International Exchange (AIX) and the Hong Kong Stock Exchange. The company, which is developing the Boguty tungsten deposit under the “Zhetysu Tungsten” brand, conducted the first yuan-denominated IPO in Central Asia and the first cross-listing between AIX and Hong Kong.

    The offering drew massive investor interest, with demand exceeding supply by hundreds of times and share prices more than doubling on the first trading day. Analysts say the strong performance reflects growing confidence in Kazakhstan’s mining sector and its shift toward public market financing.

    The event aligns with global trends in resource development, where companies increasingly rely on stock exchanges in addition to bank lending and private investment. Countries such as Canada and Australia have long used public markets—particularly TSX and ASX—to fund early-stage exploration and junior mining companies, allowing them to evolve into major global producers.

    Kazakhstan is now moving along a similar path, supported by its substantial mineral base, established technical expertise, and a developing financial infrastructure. AIX’s simplified regime for junior listings enables exploration-stage companies to access public capital, creating opportunities for broader participation in the national resource sector.

    Jiaxin’s cross-listing illustrates how Kazakh projects can attract both regional and Asian investors. Experts expect more mining companies to follow, as investors seek exposure to real assets and mining firms pursue transparent, institutional financing channels.

    With international partnerships, expanding exchange infrastructure, and mounting interest from global markets, Kazakhstan is positioned to become part of the global network of exchanges that facilitate resource-sector investment. Industry observers say the sector is entering a new phase—one defined by openness, market-based financing, and deeper global integration.

  • Austrian Firms Eye Mining, Hydropower, and Tech Investments in Kyrgyzstan

    Austrian Firms Eye Mining, Hydropower, and Tech Investments in Kyrgyzstan

    Austrian companies are exploring new opportunities to participate in Kyrgyzstan’s mining, industrial, hydropower, winter tourism, digitalization, and security technology sectors, the Kyrgyz Ministry of Foreign Affairs announced following high-level meetings in Vienna, Trend reports.

    During the visit, Kyrgyz Deputy Foreign Minister Meder Abakirov held a series of discussions with senior Austrian officials, including Markus Hoffer, Head of the Austria–Central Asia parliamentary friendship group, and members of the Austrian Parliament. Talks centered on strengthening economic and technological cooperation between the two countries, as well as expanding dialogue within the Central Asia+ format.

    Deputy Minister Abakirov also briefed the Austrian side on preparations for Kyrgyzstan’s parliamentary elections scheduled for November 30, 2025, and invited Austria to join as election observers. Hoffer confirmed that Austrian parliamentarians plan to participate as part of an OSCE monitoring mission.

    Economic and Industrial Cooperation

    In a separate meeting with Austrian Deputy Finance Minister Andreas Reichhardt, the two sides reviewed progress on agreements reached during Kyrgyz President Sadyr Japarov’s visit to Austria in November 2024. Key focus areas included finance, natural resources development, and digital transformation initiatives.

    Both parties emphasized Austria’s technological expertise and discussed the involvement of Austrian firms in a range of Kyrgyz projects, including:

    • Mining and industrial production,

    • Hydropower development,

    • Winter tourism and skiing infrastructure,

    • Digital and security technology applications.

    Strategic Dialogue and Regional Role

    Deputy Minister Abakirov also met with experts from the Austrian Institute for European and Security Policy (AIES), where he provided updates on Kyrgyzstan’s reform agenda, current economic and political developments, and the country’s role in regional and global security.

    The discussions were also joined by members of the Kyrgyz-Austrian Friendship Society, underscoring the growing diplomatic and cultural engagement between the two nations.