MINEX Forum

Tag: mining

  • 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.

  • 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.

  • U.S. and Kazakhstan Forge Joint Venture to Secure Global Tungsten Supply

    U.S. and Kazakhstan Forge Joint Venture to Secure Global Tungsten Supply

    Following the announcement of the joint venture between US-based Cove Capital LLC and Kazakhstan’s National Mining Company, JSC Tau-Ken Samruk, further details have emerged regarding the development timeline and scale of the Northern Katpar and Upper Kairakty tungsten projects.

    Cove Kaz Capital Group LLC (“Cove Kaz”), a portfolio company of U.S.-based Cove Capital LLC, will hold a 70 per cent interest, with Tau-Ken Samruk retaining 30 per cent ownership of Severniy Katpar LLP, which owns the Northern Katpar and Upper Kairakty tungsten projects.

    Cove Kaz will oversee marketing of 100 per cent of project output and has entered into a Letter of Intent with the International Trade Administration at the U.S. Department of Commerce to prioritise supply for U.S. government and commercial needs.

    The announcement was made in Washington, D.C., during the C5+1 Leaders’ Summit by U.S. President Donald J. Trump and Kazakhstan President Kassym-Jomart Tokayev.

    Total development costs for the Northern Katpar and Upper Kairakty projects are estimated at USD $1.1 billion. The Export-Import Bank of the United States has issued a Letter of Interest for USD $900 million in financing, complemented by a similar commitment from the U.S. International Development Finance Corporation.

    Cove Kaz’s project team will be led by Dominic Heaton, who previously oversaw development of the Nui Phao integrated tungsten mine and refinery in Vietnam – the world’s largest tungsten operation outside China. Preparatory work has already commenced to support a Definitive Feasibility Study for Northern Katpar, including the establishment of downstream refining capacity in Kazakhstan to produce ammonium paratungstate (APT) and other tungsten compounds.

    Pini Althaus, Chief Executive Officer of Cove Capital and Cove Kaz Capital, expressed gratitude for U.S. and Kazakh government support:

    “On behalf of Cove Capital and Cove Kaz, I wish to thank President Donald J. Trump, Secretary of Commerce Howard Lutnick, and the U.S. Trade Advocacy Center for their exceptional engagement. Their efforts have aligned financing, offtake pathways, and policy support to deliver a secure, allied tungsten supply for America’s industrial and defence needs.

    “I also wish to thank President Kassym-Jomart Tokayev for his leadership and partnership. This collaboration is a win for both nations—strengthening U.S. supply chains while fostering investment and long-term prosperity in Kazakhstan.”

    Tungsten – A Critical Industrial and Defence Mineral

    Tungsten is ranked by the U.S. Defense Logistics Agency as a “material of interest” and by the European Union as the raw material of highest economic importance due to its unique physical properties: the highest tensile strength at high temperatures, the highest melting point of any metal, and exceptional corrosion resistance.

    Its density and durability make tungsten indispensable in high-performance cutting and drilling tools, aerospace alloys, semiconductor contacts, and radiation shielding. In defence applications, tungsten is used in armour-piercing munitions, missile components, aircraft ballast, and other high-stress environments.

    Currently, China controls over 80 per cent of global tungsten production and processing. In February 2025, China imposed new export restrictions on tungsten and tungsten-containing products to the United States.

    Severniy Katpar LLP

    Severniy Katpar LLP holds licences for two projects—Northern Katpar and Upper Kairakty—located approximately 30 kilometres apart in the established Karaganda mining district of central Kazakhstan, less than 160 kilometres south of the city of Karaganda.

    Feasibility studies completed in April 2023 report total JORC-compliant mineral resources of 1.4 million tonnes of tungsten trioxide (WO₃), accounting for around 70 per cent of Kazakhstan’s total tungsten resources. For comparison, the U.S. Geological Survey estimates China’s reserves at 2.4 million tonnes.

    Combined production from both projects is expected to reach 12,000 metric tonnes per annum (mtpa) of tungsten trioxide—approximately 15 per cent of current global output.

    Cove Capital’s Broader Commitment in Kazakhstan

    Cove Capital’s portfolio company, Kaz Resources LLC, became in 2023 the first U.S. entity to receive critical minerals and rare earth concessions in Kazakhstan. These include licences for 13 minerals such as lithium, tantalum, beryllium, niobium, and rare earth elements.

    In 2024, Cove Capital and Tau-Ken Samruk formalised a joint venture for exploration of rare earths at the Akbulak project in the Kostanay region, with Cove holding 75 per cent and “Qazgeology” JSC 25 per cent. Cove is fully financing exploration activities until reserves are booked.

    About Cove Capital LLC

    Founded in 2015, Cove Capital is a mining-focused investment and development firm headquartered in New York and Melbourne. Since 2018, the company has focused on critical minerals projects that enhance U.S. and allied supply chains. Led by CEO Pini Althaus, Cove Capital brings extensive expertise across exploration, mining, processing, and offtake structuring.

    About Tau-Ken Samruk

    Tau-Ken Samruk, Kazakhstan’s national mining company, manages the sustainable development of the nation’s mineral wealth. Through partnerships with international investors, it aims to strengthen Kazakhstan’s mining sector and support the country’s long-term economic growth.

  • 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.

  • ‘Europe’s Lithium Paradox’: Documentary Highlights Europe’s Struggle Between Green Ambitions and Mining Reality

    ‘Europe’s Lithium Paradox’: Documentary Highlights Europe’s Struggle Between Green Ambitions and Mining Reality

    Europe is facing a “critical crossroads” in its green transition, warns Dr. Peter Tom Jones, director of the KU Leuven Institute for Sustainable Metals and Minerals, whose new documentary Europe’s Lithium Paradox explores the continent’s mounting dilemma over lithium extraction.

    The one-hour film focuses on two key European lithium projects — in Portugal and Serbia — both stalled amid fierce public opposition and political hesitation. As Europe pushes to electrify transport and expand renewable energy, it finds itself torn between the need for raw materials and growing citizen resistance to mining.

    “You can’t recycle your way out of a fossil fuel economy,” Jones says. “You have to mine first — we simply don’t have enough scrap in Europe, and we won’t until at least 2035. That leaves us with a ten-year gap.”

    Europe’s Feedstock Crisis

    Jones argues that Europe’s transition to clean energy is being undermined by a lack of “feedstock” — the raw materials required for batteries, solar panels, and electric vehicles. While recycling giants like Umicore have proven high-level battery recovery is possible, the continent’s reliance on imported lithium remains a major vulnerability.

    He estimates that lithium mined in Serbia alone could power at least one million electric vehicles, potentially creating a “new ecosystem” including a refinery, battery recycling hub, and full supply chain infrastructure.

    “With ten or more industrial-scale mining sites — compared to just four today, one of which is idle — Europe could achieve self-sufficiency in lithium,” he insists. “We need to act now to avoid sleepwalking into the abyss.”

    A “Minerals Cold War”

    In the film, Jones warns that the geopolitical race for critical minerals is intensifying.

    “China and the U.S. aren’t playing by the rules — they’re making their own,” he says. “Donald Trump is pushing a capitalist model with minimum price floors for lithium, while China is restricting exports of technology metals. Europe is a bystander in this minerals cold war.”

    He argues that Europe’s regulatory delays, public protests, and political indecision risk leaving it strategically dependent on foreign supply chains — with devastating consequences for its industrial competitiveness.

    Between Industry and Activism

    Europe’s Lithium Paradox aims to spark informed debate, but its reception has been polarized. In both Serbia and Portugal, local communities refused to speak on camera, accusing the filmmakers of promoting mining interests. Ironically, mining companies also distanced themselves from the project, with some reportedly banning employees from watching it for being “too critical.”

    Jones acknowledges the tension but maintains that the documentary is “grounded in science, not politics.”

    “We’re trying to balance innovation with real-world concerns. I’ve heard the phrase ‘you can’t fight feelings with facts’ — but we can at least try to change the narrative,” he says.

    The film is currently touring European universities, R&D institutes, and industry conferences, and is also available on Amazon Prime.

    “Europe must move beyond entrenched positions and forge a united front,” Jones concludes. “This is not about taking sides — it’s about survival.”

  • Montenegro Hires U.S. and Serbian Law Firms to Defend Against Tara Resources’ Mining Arbitration

    Montenegro Hires U.S. and Serbian Law Firms to Defend Against Tara Resources’ Mining Arbitration

    Montenegro has appointed U.S. law firm Hughes Hubbard & Reed and Serbian firm Nikčević Kapor to represent the state in an arbitration case filed by Swiss company Tara Resources over the termination of its mining concession at the former Brskovo mine, the country’s Ministry of Energy and Mining announced Wednesday.

    The ministry said the firms were selected after submitting the top bid in a public tender earlier this year, without revealing details about the other bidders.

    In July 2025, Tara Resources filed a request with the International Centre for Settlement of Investment Disputes (ICSID) in Washington D.C., following Montenegro’s unilateral termination of its concession contract for the Brskovo mining area in May 2024. The government said the company had failed to correct irregularities in its feasibility study, which violated national legislation, before the set deadline.

    The Brskovo mine, located near the northeastern town of Mojkovac, has a long history of exploration. Montenegro originally granted a 25-year lease to Australia’s Sultan Corporation in 2010, which reported a 9.2 million-tonne inferred resource the following year. Tara Resources, based in Switzerland, took over the project in 2018.

    The company claims its 2019 preliminary economic assessment and 2021 pre-feasibility study confirmed Brskovo’s strong economic potential, estimating construction costs at around €180 million for two open pits, a processing plant, and a waste facility. Once operational, the mine was projected to produce 45,000 tonnes of zinc, 13,000 tonnes of lead, 3,000 tonnes of copper, and about 1 million ounces of silver annually, creating 550 direct and 200 indirect jobs.

    However, the project has faced persistent environmental opposition from local residents and non-governmental organizations in Mojkovac, who fear the mine could threaten ecosystems and public health in the region.

    Montenegro’s government maintains that the termination was lawful and in line with national environmental and mining regulations. The arbitration proceedings in Washington could become one of the country’s most closely watched investment disputes, potentially setting a precedent for future resource development projects in the Balkans.