MINEX Forum

Tag: mining

  • Greenland Grants 30-Year Mining Permit for Climate-Friendly Aluminium Alternative

    Greenland Grants 30-Year Mining Permit for Climate-Friendly Aluminium Alternative

    Greenland has issued a 30-year mining license to Greenland Anorthosite Mining (GAM), a Danish-French mining group, to extract anorthosite—an unusual white rock that could play a key role in climate-friendly aluminium production. The permit covers a project site in western Greenland and marks a significant step toward the island’s ambitions to become a major player in the global green minerals market.

    GAM, backed by the French investment firm Jean Boulle Group and state investment funds from both Denmark and Greenland, aims to begin mining operations within five years. The company plans to export crushed anorthosite to the fiberglass industry, where it could serve as a more sustainable replacement for kaolin. Longer-term, it may replace bauxite in aluminium production, reducing the carbon footprint of a metal critical to the aerospace, automotive, and defense industries.

    Anorthosite is geologically similar to material brought back from the Moon by NASA’s Apollo missions, and its unique composition—aluminium, micro silica, and calcium—offers promising industrial applications.

    Despite the global spotlight on Greenland’s natural resources, Mineral Resources Minister Naaja Nathanielsen stated that heightened U.S. interest in the Arctic island—especially following former President Donald Trump’s 2019 proposal to purchase it—has not yet resulted in direct American investment.

    “Right now, all the fuss has not resulted in increased appetite for investment directly in Greenland,” Nathanielsen told Reuters. While U.S. business delegations have visited the island, formal talks with the U.S. government remain on hold.

    In contrast, Nathanielsen noted smoother progress with European Union and Danish partners, citing years of intensified cooperation.

    Although Greenland is rich in minerals, oil, and gas, its mining sector remains underdeveloped due to investor caution, regulatory hurdles, and environmental concerns. At present, only two small mines are operational on the island.

  • Ministry of Mining in Uzbekistan and CNUC Discuss Cooperation in Geology and Mining Sector

    Ministry of Mining in Uzbekistan and CNUC Discuss Cooperation in Geology and Mining Sector

    The Ministry of Mining and Geology, under the leadership of Deputy Minister U. Yusupov, held a meeting with representatives from China National Uranium Corporation Limited (CNUC). The discussions focused on potential cooperation in the fields of geology and mining, including plans for joint geological exploration projects and the implementation of innovative technologies.

    Both parties expressed interest in launching mutually beneficial initiatives and expanding investment opportunities. The CNUC delegation shared insights from their international experience and highlighted their achievements in global projects. The meeting also included an exchange of views on potential collaborative research and further development within the geological sector.

  • Uzbek Geological Exploration Advances Across Multiple Sites with Coal, Polymetallic, and Non-Metallic Discoveries

    Uzbek Geological Exploration Advances Across Multiple Sites with Coal, Polymetallic, and Non-Metallic Discoveries

    Uzbek Geological Exploration JSC has reported significant progress across multiple exploration sites, highlighting ongoing developments in the country’s resource sector. At the Uriqli site, part of the Surkhandarya field expedition under the Gissar central geological exploration expedition, coal seams numbered 1 through 6 have been successfully identified as a result of recent mining works.

    Simultaneously, polymetallic ore bodies are under evaluation at the northern section of the Khandiza ore field, while detailed exploration continues at the Vodny Say section. Exploration activities have concluded at the Severny area, where a comprehensive geological report is now being finalized for submission to the State Reserves Committee (GKZ) in 2025.

    In parallel, the field evaluation of non-metallic mineral resources is ongoing at several locations. These include celestine at Chigatai, dolomite at Loilik, gypsum at Shurobsoy, and basalt at Badava. The corresponding exploration reports are also expected to be submitted for review to the State Commission on Mineral Reserves (SCP) within the year.

  • Vast Resources Signs MoU with Tajik Ministry at UK-Tajikistan Mining Forum

    Vast Resources Signs MoU with Tajik Ministry at UK-Tajikistan Mining Forum

    Vast Resources plc, an AIM-listed mining company, announced its active participation in the Tajikistan-UK Mining Forum held yesterday at the London Stock Exchange. The event served as a platform to reinforce bilateral ties between the United Kingdom and Tajikistan while spotlighting the investment potential within Tajikistan’s mining sector.

    During the forum, Vast Resources signed a non-binding Memorandum of Understanding (MoU) with the Ministry of Industry and New Technologies of the Republic of Tajikistan. The agreement outlines a framework for cooperation aimed at identifying both historical and greenfield exploration opportunities for non-ferrous and strategic mineral deposits.

    A notable element of the MoU includes plans to jointly develop a “Tajik Mineral Investment Fund” to facilitate growth in Tajikistan’s mining industry. The agreement remains in effect until 19 May 2026. Vast Resources confirmed that any material developments arising from the MoU will be disclosed as they occur.

  • Anglo Asian Mining Begins Production at Gilar Underground Mine in Azerbaijan

    Anglo Asian Mining Begins Production at Gilar Underground Mine in Azerbaijan

    Anglo Asian Mining PLC (AIM: AAZ) has commenced production at its Gilar underground mine, situated within the Gedabek site in Azerbaijan. The company targets an output of approximately 2,000 tonnes of ore per day, with expectations to ramp up to a monthly production rate of 50,000 to 60,000 tonnes.

    A maiden JORC mineral resource estimate released on December 11, 2023, revealed that the Gilar deposit holds 6.10 million tonnes of mineralisation. The average grades include 0.88% copper—equating to nearly 54,000 tonnes of copper—and 1.30 grams of gold per tonne, totaling over 255,000 ounces of gold.

    Following the announcement, shares of Anglo Asian Mining rose by 7% in London, bringing the company’s market value to £169.9 million ($226.9 million).

    In 2024, Anglo Asian produced 16,760 gold-equivalent ounces, although production faced disruptions due to a partial environmental shutdown. Operations resumed by the end of the year.

    The company plans to evolve into a multi-asset, mid-tier copper and gold producer by 2029, with copper becoming its primary product. As part of its growth strategy, Anglo Asian intends to bring four new mines into production between 2025 and 2029: Gilar, Zafar, Xarxar, and Garadag.

  • European Tungsten Prices Reach Highest Level Since 2013 Amid Chinese Export Curbs

    European Tungsten Prices Reach Highest Level Since 2013 Amid Chinese Export Curbs

    European tungsten prices have surged to their highest point since 2013, driven by China’s tightening restrictions on critical mineral exports. The price of ammonium paratungstate (APT)—a vital intermediate in tungsten metal production—has reached $400 per metric ton unit (mtu) on the European spot market, marking an 18% increase since February, according to Reuters.

    The spike follows China’s recent export curbs and quota reductions on key strategic metals, including tungsten, tellurium, molybdenum, bismuth, and indium. These measures, imposed in retaliation to US tariffs earlier this year, have intensified global supply concerns.

    China dominates global tungsten production, accounting for over 80% of the 81,000 tons produced worldwide last year, according to the US Geological Survey (USGS). Tungsten’s exceptional properties—such as its highest melting point of any element, extreme hardness, and excellent electrical and thermal conductivity—make it indispensable across various industries. Initially popularized in incandescent light bulbs, tungsten now underpins sectors ranging from aerospace and semiconductors to defense and industrial drilling.

    Tungsten carbide, second only to diamond in hardness, is crucial for metalworking tools and industrial drills, while tungsten crucibles facilitate the melting of other high-temperature materials. In the defense sector, tungsten is used for “penetrators,” armor-piercing projectiles currently in high demand amid the ongoing conflict in Ukraine.

    China’s Tightening Grip on Exports
    The global tungsten scarcity has been exacerbated by China’s export restrictions. The country’s first tungsten ore mining quota for 2024 was set at 58,000 tons—a 6.5% decrease from the previous year.

    “Since the Chinese export ban was announced, there has been an over-reliance on scrap supplies, but now those are running thin, and there’s growing panic over the inability to secure new primary tungsten material,” said Oliver Friesen, CEO of Guardian Metal Resources.

    The stakes are especially high for the United States, which ceased commercial tungsten mining in 2015 and remains heavily reliant on imports. A looming 2027 deadline mandates the US military to eliminate purchases of tungsten mined or processed in China or Russia—the latter being the world’s third-largest producer.

    North American Efforts to Secure Supply
    In response, Canada’s Almonty Industries recently announced an offtake agreement to provide tungsten oxide exclusively for US defense applications. The company operates tungsten mines in Spain, Portugal, and South Korea.

    “Almonty can produce enough tungsten for US/EU/Korea defense demand but not enough for the entire US/EU/Korea market—defense and civilian combined,” Almonty’s CEO Lewis Black stated. Shares of Almonty rose 4.6% in Toronto following the announcement, giving the company a market capitalization of C$688 million ($492 million).

    “Tungsten is a small market… But the industries that depend on it are exponentially bigger, which is why it is on everyone’s critical mineral list,” Reuters columnist Andy Home noted.

  • US-Ukraine Investment Agreement Faces Long Road to Mining and Energy Sector Boost

    US-Ukraine Investment Agreement Faces Long Road to Mining and Energy Sector Boost

    The recently ratified investment agreement between Ukraine and the United States, championed by US President Donald Trump, is not anticipated to deliver tangible results for at least a decade, experts told the Financial Times.

    The agreement, approved by Ukraine’s parliament on May 8, outlines the establishment of a joint “reconstruction investment fund” to support future mining and energy projects. Despite optimism, industry leaders warn that substantial challenges lie ahead, including Russia’s ongoing war on Ukraine, heavily damaged infrastructure, restricted Soviet-era geological data, corruption risks, and unexploded ordnance contamination.

    According to Eric Rasmussen, former head of natural resources at the European Bank for Reconstruction and Development, “It could be 10-15 years — that’s the sort of timeline we talk about.” Peter Bryant of the advisory group Clareo echoed these sentiments, stating that the deal “does little to de-risk the supply chain in the next 10 years.”

    Ukraine boasts significant natural resources, including iron ore, coal, lithium, graphite, and titanium-bearing ores. It is also Europe’s third-largest gas producer. While oil and gas fields may be quicker to develop, mining projects are expected to face lengthy geological exploration before reaching feasibility.

    Ukrainian Minister Yulia Svyrydenko mentioned that the reconstruction fund would be operational “within a few weeks,” although profits are expected to be reinvested for the first decade.

    US-backed TechMet, which aims to secure Ukrainian lithium, called the agreement promising but noted the long-term commitment required. DTEK, Ukraine’s largest private energy firm, expressed optimism, signaling that Ukraine was “open for business.”

    However, not all are convinced. One mining executive remarked skeptically, “This romantic idea that there’s lakes of lithium to be tapped is just not the case.”

  • Decarbonising the Mining Industry: Challenges and Innovations

    Decarbonising the Mining Industry: Challenges and Innovations

    The drive to decarbonise the global economy is unearthing new challenges in the mining sector, an industry pivotal to the green transition. Mining provides critical minerals for renewable technologies like solar panels, wind turbines, and electric vehicles. Yet, the sector is responsible for 4-7% of global emissions, primarily from methane released by coal mines. While methane emissions are expected to decline over the next 25 years, attention is turning to the decarbonisation of other mining operations essential for the energy shift.

    The International Energy Agency projects that achieving net-zero emissions by 2050 will require a 50% increase in copper demand by 2040, a doubling of nickel and cobalt needs, and an eightfold surge in lithium demand. Amid these projections, Australian iron ore giant Fortescue Metals Group has positioned itself as an industry leader. Unlike many companies relying on carbon offsets, Fortescue aims for “real zero” by 2030, cutting emissions from its massive Pilbara region operations. Fortescue’s Chairman, Andrew Forrest, has been vocal against the concept of “net-zero,” advocating for tangible emission cuts instead.

    Fortescue’s strategy includes replacing diesel and gas with 2-3 gigawatts of solar and wind power, backed by significant battery storage. The company has also pioneered innovative technologies, such as regenerative battery-powered trains that capture gravitational energy during descents. These designs are part of its $6.2 billion decarbonisation plan, aiming to set new standards for emissions reductions in mining.

    Other global mining operations are also adopting renewables. In the Democratic Republic of Congo, the Kamoa Copper mine signed a deal with CrossBoundary Energy for a 222-megawatt solar array and massive battery system to reduce emissions by around 78,750 tonnes annually. Matthew Tilleard of CrossBoundary Energy called it a “baseload renewable energy solution,” marking a significant step for off-grid mining operations.

    Efforts are also underway to decarbonise mining vehicles. The International Council on Mining and Metals (ICMM) has partnered with manufacturers to develop zero-emission vehicles, with full-scale deployment expected by 2030. Bryony Clear Hill of ICMM noted that battery electric technology is gaining traction, with prototypes already in testing.

    However, the path to decarbonisation remains uneven. Regional differences, infrastructure challenges, and government policies significantly affect progress. According to Gregoire Bellois of the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development, some companies make genuine strides, while others only achieve “on paper” progress through divestment. Chinese companies, which are rapidly consolidating control over key minerals like cobalt, remain hesitant to decarbonise due to a lack of regulatory pressure.

    Looking ahead, the European Union’s proposed Carbon Border Adjustment Mechanism (CBAM) could reshape global mining. If implemented, CBAM would levy carbon-intensive companies exporting to the EU, potentially pushing high-emission operations toward markets with fewer regulations.

    While the road to “real zero” is fraught with obstacles, experts agree that every effort to reduce emissions is crucial. As mining scales up to meet unprecedented global demand, the pressure to innovate and cut carbon footprints is more significant than ever.

  • Uzbekistan Opens Nation’s First 1,000-Meter Skip Shaft at Zarmitan Mine

    Uzbekistan Opens Nation’s First 1,000-Meter Skip Shaft at Zarmitan Mine

    On April 30, 2025, Uzbekistan marked a historic milestone in its mining industry with the inauguration of the country’s first 1,000-meter-deep skip shaft. The event was held at the Zarmitan deposit, part of the Southern Mining Department in the Koshrabot district of Samarkand Region, under the investment project “Development of Lower Horizons of the Zarmitan Deposit.”

    The ceremonial launch was attended by Deputy Minister of Mining and Geology U. Yusupov, Chairman of the Board of NMMC JSC K. Sanakulov, leaders of the plant’s enterprises, representatives of Mine Construction Alliance S.r.o, media personnel, plant workers, and industry veterans.

    As part of the project, the skip shaft—measuring 6.5 meters in diameter—was deepened to 1,000 meters. This engineering achievement, which incorporates innovative construction solutions and digital technologies, will significantly boost ore transport efficiency, reduce operational costs, and create 90 new jobs. The projected annual economic benefit is estimated at 19.2 billion Uzbek soums.

  • District Metals’ Viken Project Now Second Largest Uranium Deposit Globally Following Major Resource Update

    District Metals’ Viken Project Now Second Largest Uranium Deposit Globally Following Major Resource Update

    District Metals (TSXV: DMX) has unveiled a significant upgrade to its Viken uranium project in central Sweden, announcing a new resource estimate that positions the project as the second largest uranium deposit in the world. The update has driven a substantial increase in the company’s share price, reflecting investor enthusiasm.

    The updated resource now totals 456 million indicated tonnes with a grade of 175 parts per million (ppm) uranium oxide (U3O8), equating to 176 million contained pounds of U3O8. This marks an almost ninefold increase compared to the previous 2010 resource estimate. Inferred resources also saw a significant boost, growing by 44% to 4.33 billion tonnes at a grade of 161 ppm U3O8, yielding 1.53 billion contained pounds.

    District CEO Garrett Ainsworth expressed that the impressive growth in the resource estimate highlights the strong continuity in grade and thickness of the mineralized Alum Shale formation across the Viken deposit. He also mentioned the potential for further expansion of the inferred resource, further underscoring the project’s promising future.

    Following the announcement, District Metals’ shares surged by 23%, reaching C$0.35 per share in afternoon trading on Tuesday, giving the company a market capitalization of C$45.9 million.

    Sweden’s Uranium Revival
    The new resource estimate for Viken is bolstered by the growing momentum for uranium in Sweden. The country is on the cusp of lifting its 2018 ban on uranium exploration and mining. The Swedish government, led by Prime Minister Ulf Kristersson, has been pushing to overturn the ban since 2023, with legislative changes expected to come into effect by January 2024.

    While Sweden’s uranium output is small on the global stage, its resources represent 27% of Europe’s total, according to the Swedish Geological Survey. The global demand for uranium, driven by the need for zero-emission energy sources, is also creating a favorable environment for Sweden’s uranium projects.

    Global Ranking of Viken
    Viken’s resource estimate places it among the largest uranium projects in the world. District Metals’ analysis, compared to other global uranium projects, positions Viken just below BHP’s Olympic Dam polymetallic project in South Australia, based on the total contained uranium.

    Additional Critical Minerals
    In addition to uranium, the Viken deposit hosts significant amounts of other critical minerals. The indicated vanadium resource has increased more than 16 times, with 2.85 billion pounds of vanadium oxide (V2O5) at a grade of 2,836 ppm. The inferred vanadium resource has grown by 45% to 24.29 billion pounds at a grade of 2,543 ppm V2O5.

    The indicated zinc resource totals 413 million pounds, grading 411 ppm zinc, and the inferred resource adds 3.9 billion pounds at a grade of 417 ppm. The nickel resources are also notable, with 332 million pounds of nickel in the indicated category at a grade of 330 ppm, and 3 billion pounds in the inferred category at a grade of 321 ppm.

    Next Steps
    The Swedish government’s plans to lift the uranium mining ban will influence District’s decision on whether to proceed with a preliminary economic assessment for Viken in the fourth quarter of 2023. The new resource estimate is based on 122 holes, including drilling data from previous operators between 2006 and 2012.