MINEX Forum

Tag: mining

  • Trump Team Pushes for U.S. Access to Major Tungsten Deposits in Kazakhstan

    Trump Team Pushes for U.S. Access to Major Tungsten Deposits in Kazakhstan

    According to Bloomberg, former U.S. President Donald Trump’s team is seeking to secure mining rights in Kazakhstan for Cove Capital, an American company aiming to develop some of the world’s largest untapped tungsten deposits. The negotiations involve the Kazakh-American joint venture Cove Kaz Capital and Kazakhstan’s sovereign wealth fund Samruk-Kazyna, with U.S. Commerce Secretary Howard Lutnick reportedly taking part in the talks.

    The project may receive financial backing from the U.S. International Development Finance Corporation (DFC) and the Export-Import Bank of the United States (Exim Bank). Sources indicate that Washington is particularly interested in developing the Verkhne-Kairaktinskoye and Severo-Katparskoye deposits located in Kazakhstan’s Karaganda region—assets valued at several billion dollars.

    Cove Kaz Capital has been in discussions with Samruk-Kazyna for several months, Bloomberg reports. However, the American firm faces competition from a Chinese state-owned company that has offered a price exceeding the market value for the same assets.

    The United States classifies tungsten as a critical mineral essential for national security and industrial applications. Under the proposed plan, Cove Kaz Capital and Samruk-Kazyna would jointly extract the ore in Kazakhstan, process it locally, and then export the finished metal to the U.S. for use in both defense and civilian industries. While Kazakhstan would receive a share of the joint venture’s profits, Cove Kaz Capital is expected to remain the main beneficiary.

  • Bishkek Forum Highlights Transparency and Investment as Keys to Kyrgyzstan’s Mining Future

    Bishkek Forum Highlights Transparency and Investment as Keys to Kyrgyzstan’s Mining Future

    Government officials, business leaders, civil society representatives, and international experts gathered in the Kyrgyz capital for the “Dialogue on the Extractive Industry: Investment, Transparency, Development” forum, aimed at fostering an open exchange on the future of Kyrgyzstan’s mining sector.

    The event, organized by the Ministry of Natural Resources, Ecology and Technical Supervision of Kyrgyzstan with the support of the World Bank, the Extractive Industries Transparency Initiative (EITI), and consulting firm Data Lab, focused on advancing reforms to make the country a competitive and sustainable hub for critical mineral investment.

    According to the ministry, the forum’s main goal was to build a framework for cooperation grounded in transparency, accountability, and sustainability — principles vital for developing industries tied to the global energy transition.

    World Bank representative Brian Land emphasized that Kyrgyzstan needs deep and sustained reforms to attract exploration and mining investments, while Arkady Rogalsky, a data consultant for the Bank, noted that the EITI standard remains essential for building trust between government, business, and citizens by promoting openness, anti-corruption measures, and equal rules for all participants.

    At the conclusion of the discussions, participants adopted a resolution outlining future priorities:

    • The government was urged to continue reforms and strengthen coordination in preparation for the EITI 2027 validation.

    • The private sector was encouraged to enhance corporate responsibility and environmental transparency while promoting equal opportunities.

    • Civil society was called to engage more actively in public oversight and dialogue.

    • International partners were invited to support Kyrgyzstan in advancing transparency and sustainable growth.

    Deputy Director of the Kyrgyz Geological Service Ruslan Kalilov stressed that citizen participation and transparency are the cornerstones of trust, adding that the mining industry can become a driver not only of economic growth but also of social development.

    A dedicated session addressed gender inclusion in transparency practices. Data Lab presented a gender analysis of EITI implementation, highlighting the importance of women’s participation in decision-making and leadership roles. Gulnura Toralieva, head of Data Lab, noted that the goal is to foster a “culture of transparency” based on respect and openness, not merely to produce compliance reports.

    The forum concluded with a joint commitment to prepare Kyrgyzstan for the 2027 EITI validation and to continue collaborative efforts to strengthen trust and sustainable development within the extractive industry. As participants agreed, when government, business, and civil society work in concert — the whole country benefits.

  • Tajikistan Targets Role in Global Rare Earth Supply Chain, Eyes Lithium and Antimony Production Expansion

    Tajikistan Targets Role in Global Rare Earth Supply Chain, Eyes Lithium and Antimony Production Expansion

    Tajikistan holds deposits of 10 out of 12 metals critical for the global energy transition, with six already being mined, Minister of Industry and New Technologies Sherali Kabir said at the Dushanbe 2025 International Investment Forum, according to Asia-Plus.

    Kabir outlined the government’s vision for Tajikistan to become an active player in the global rare earth supply chain, emphasizing that the country was once a hub for rare earth production within the former Soviet Union. Of the three rare earth processing plants that existed in the USSR, two were located in Tajikistan and one in Russia.

    Authorities are now in talks with international partners to modernize these facilities, with Kabir noting that the government expects “very good results” from these negotiations in the near future.

    Tajikistan is also doubling down on antimony, one of its most abundant resources. The country ranks second globally in terms of antimony reserves. Four new processing plants are in the pipeline, at various stages ranging from feasibility studies to construction.

    The minister also highlighted the growing copper industry, confirming that domestic production has already begun and that the government plans to significantly expand output by attracting foreign investment.

    Kabir further revealed that Tajikistan has large deposits of nickel and lithium ores, adding that the country’s ambition is to become the first among CIS nations to launch lithium production — a crucial material for batteries and clean energy technologies.

  • North Macedonia Revokes 45 Mining Concessions Over Legal and Environmental Breaches

    North Macedonia Revokes 45 Mining Concessions Over Legal and Environmental Breaches

    The government of North Macedonia has terminated 45 mining concessions due to violations of legal and environmental regulations, as well as unpaid fees and unauthorized transfers, Deutsche Welle’s local branch reported.

    According to the report, 34 contracts were unilaterally terminated, while 11 expired and were not renewed. The Ministry of Economy said the decision followed findings of non-compliance, including unpaid concession fees, unauthorized transfers of rights, and extraction beyond permitted zones.

    Between January and October 1, authorities conducted 170 extraordinary inspections and 78 regular checks, resulting in the enforcement measures.

    The move comes amid tightened government oversight of North Macedonia’s natural resource sector, part of a broader effort to improve transparency, environmental compliance, and responsible resource management in the country’s mining industry.

  • Rio Tinto Targets Strong Q4 Finish to Meet Iron Ore Shipment Goals Amid China Demand Surge

    Rio Tinto Targets Strong Q4 Finish to Meet Iron Ore Shipment Goals Amid China Demand Surge

    Rio Tinto said on Tuesday that it will need a robust fourth-quarter performance to hit its 2025 iron ore shipment target, as Chinese demand strengthens on the back of infrastructure-driven stimulus and front-loaded global investment ahead of potential new tariffs.

    The world’s largest iron ore miner reported 84.3 million tonnes of iron ore shipped from its Western Australia operations during the third quarter, slightly below the Visible Alpha consensus estimate of 85.5 million tonnes. Despite the shortfall, iron ore prices have climbed to their highest levels since February, fuelled by Beijing’s targeted infrastructure programs that have spurred steel production.

    China’s iron ore imports reached a record high in September, according to Rio, reflecting renewed industrial momentum despite ongoing economic challenges such as deflation, weak manufacturing, slow exports, and persistent property market struggles.

    Rio reaffirmed its annual shipment guidance of 323–338 million tonnes, but noted that four cyclones earlier this year disrupted output, meaning results are likely to fall near the lower end of the range.

    “A strong Q4 performance is required as the system remains tightly balanced and has limited ability to mitigate further losses,” the company said.

    Shares of Rio Tinto (ASX: RIO) jumped 3.6% in early trading to their highest since late September, tracking gains across major iron ore producers. BHP and Fortescue Metals Group also rose more than 2% each.

    Under its new CEO Simon Trott, who restructured Rio into three main divisions — iron ore, aluminium and lithium, and copper — the company continues to focus on safety and diversification. Rio confirmed that shipments from its Simandou project in Guinea remain on track to begin before year-end, despite a recent fatality at the site.

    Beyond iron ore, Rio reported record copper production at Oyu Tolgoi in Mongolia, forecasting a more than 50% increase in copper output this year as demand surges for energy transition metals. The miner also logged a second consecutive record quarter for bauxite production, prompting an upward revision of its full-year forecast to 59–61 million tonnes, supported by strong performance at the Amrun mine in northern Australia.

  • Mundoro Capital Grants BHP Option to Earn 100% Interest in Serbian Copper-Gold Licences

    Mundoro Capital Grants BHP Option to Earn 100% Interest in Serbian Copper-Gold Licences

    Canadian exploration and development company Mundoro Capital Inc. has granted an earn-in option to a subsidiary of BHP Group for seven copper and gold exploration licences within Serbia’s Timok Magmatic Complex, one of the most prolific mineral belts in the Tethyan region.

    Under the agreement, BHP can earn up to 100% ownership of the licences — which span 418 square kilometres — by funding US$35 million (€30 million) in exploration expenditures over ten years, the company announced on Monday.

    BHP will also make annual option payments beginning at $323,000, increasing by 2% annually, and milestone payments of $2 million each for specific resource declarations, up to a total of $10 million, or a single $10 million payment upon exercising the option if no resource is declared.

    Mundoro will initially operate the project, managing exploration activities and earning operating fees. Once BHP invests at least $20 million or completes 40,000 metres of drilling, it may assume operational control. Upon exercising the option, BHP will also start making annual advance royalty payments to Mundoro.

    To date, Mundoro and its partners have invested C$15.4 million ($11 million) into the project, which hosts multiple exploration targets. The most advanced prospects include:

    Skorusa copper-gold porphyry system, with an intercept of 201.2 metres grading 0.11% Cu and 0.11 g/t Au.

    Tilva Rosh prospect, where trenching returned 12 metres at 30.39 g/t Au and 171.27 g/t Ag.

    Other promising targets include Markov Kamen, Orlovo, D-vein, Prekostenski, Zlot 1–3, Bukova, Tilva Mare, Glavica, Bacevica North, Gorunov, Oblez SE, and Branik.

    The Timok Magmatic Complex is home to several major deposits and producing mines, including Cukaru Peki, Bor, Majdanpek, Veliki Krivelj, and Coka Rakita, positioning this partnership to further strengthen BHP’s exploration footprint in Europe’s key copper-gold corridor.

  • Ferro-Alloy Resources Publishes Feasibility Study for Balasausqandiq Vanadium Project in Kazakhstan

    Ferro-Alloy Resources Publishes Feasibility Study for Balasausqandiq Vanadium Project in Kazakhstan

    Ferro-Alloy Resources Limited has released the results of the feasibility study (FS) for the first stage of development of the Balasausqandiq vanadium deposit in southern Kazakhstan, confirming the project’s strong economic potential.

    According to preliminary estimates, the total investment required for the first phase amounts to $520 million, with the company currently in talks with potential investors to secure financing.

    The project envisions the annual production of 8,500 tonnes of vanadium pentoxide (V₂O₅) and 247,000 tonnes of carbon black substitute (CBS) over a 20-year mine life. A second phase is expected to quadruple production capacity while maintaining a similar project timeframe. The net present value (NPV) of the project is estimated at $748 million.

    One of the project’s main advantages lies in the unique composition of the Balasausqandiq ore, which consists of black shale that does not require pre-concentration – unlike typical vanadium-bearing titanomagnetite ores that require beneficiation and high-temperature roasting. This gives the project significant cost advantages compared to conventional vanadium production.

    The FS confirmed the high economic viability and low operating costs of the project, indicating that Balasausqandiq could position Ferro-Alloy Resources as one of the world’s leading vanadium producers.

    The company also noted additional opportunities to enhance value-added production, which will be further examined during the detailed design phase.

    Nick Bridgen, CEO of Ferro-Alloy Resources Limited, emphasized the growing global demand for vanadium and the looming supply deficit expected from 2029 onward.

    “By 2035, the vanadium shortfall could exceed the total global production level recorded in 2024,” he said, underscoring the strategic importance of the Balasausqandiq project for the global vanadium supply chain.

  • Pasechnik Appeals to Putin for Funds Amid Mining Crisis in Occupied Luhansk

    Pasechnik Appeals to Putin for Funds Amid Mining Crisis in Occupied Luhansk

    Leonid Pasechnik, the Kremlin-appointed leader of the self-proclaimed Luhansk People’s Republic (LPR), has asked Russian President Vladimir Putin to help secure salary payments for miners in the occupied Luhansk region. According to Ukraine’s Center for Countering Disinformation (CCD), Pasechnik’s appeal reflects the severe deterioration of the mining sector, where most mines have been handed over to Russian companies.

    These operators had pledged investment but later declared the mines unprofitable, opting instead to mothball or liquidate production. The CCD reports that the situation has left many miners without pay, creating a desperate social and economic crisis in the region.

    The challenges are compounded by Russia’s own coal sector, which is suffering under international sanctions and the loss of export markets. Mines across Russia are shutting down, wages are going unpaid, and layoffs are spreading — leaving little incentive for companies to inject resources into the occupied Donbas territories.

    The mining crisis unfolds as Moscow grapples with broader financial troubles. The Russian government projects a $68 billion budget deficit by the end of 2025, nearly double previous forecasts, driven by falling oil and gas revenues and soaring wartime expenditures.

  • Bulgaria and University of North Dakota to Research Rare Earth Metals

    Bulgaria and University of North Dakota to Research Rare Earth Metals

    The Bulgarian Energy Holding has signed a Memorandum of Understanding (MoU) with the University of North Dakota, USA, to conduct joint research on rare earth metals in Bulgaria. The agreement was formalized during Prime Minister Rosen Zhelyazkov’s visit to the United States for the 80th session of the UN General Assembly.

    “Today’s signing is extremely important for the development not only of the Bulgarian mining industry, but also for the technological progress of Bulgaria and the USA,” said Zhelyazkov. He emphasized that by leveraging the scientific potential of the University of North Dakota, Bulgaria can unlock new opportunities offered by its natural resources.

    The government press service noted that the collaboration marks a significant step in strengthening ties between the two countries in science, mining, and technology.

  • Pakistan and Poland Eye Expanded Cooperation in Energy, Mining, and Agriculture

    Pakistan and Poland Eye Expanded Cooperation in Energy, Mining, and Agriculture

    Federal Minister for Commerce Jam Kamal Khan met with Poland’s Ambassador to Pakistan, Maciej Pisarski, on Wednesday to discuss expanding trade, investment, and energy cooperation. Talks highlighted opportunities in hydrocarbons, mining, and agriculture as areas of mutual interest.

    Khan praised the longstanding presence of Poland’s state-owned energy firm ORLEN, which has invested approximately $500 million in Pakistan’s oil and gas sector over the past 26 years. ORLEN now plans to double its investment over the next decade, a move that could further strengthen bilateral energy ties.

    Ambassador Pisarski pointed to new exploratory concessions in Sindh and Balochistan as particularly promising, while also underscoring the need to resolve pending issues to sustain investor confidence.

    The commerce minister encouraged Polish companies to explore partnerships in Pakistan’s agriculture value chain, especially in cold storage and processing facilities for fruits and vegetables. He also urged Poland to consider investment in Pakistan’s mining sector, highlighting copper and lignite reserves.

    Pisarski noted Poland’s global expertise in both energy and mining and expressed Warsaw’s readiness to explore joint ventures. The two sides agreed to pursue concrete initiatives and high-level engagements to convert proposals into projects.

    Khan reaffirmed Pakistan’s commitment to facilitating Polish investors, while Pisarski emphasized Poland’s interest in deepening its economic partnership with Islamabad.