MINEX Forum

Tag: mining

  • Kazakhstan Urged to Develop Coal Chemistry Amid Surge in Rare Earth Interest

    Kazakhstan Urged to Develop Coal Chemistry Amid Surge in Rare Earth Interest

    As global demand for rare earth elements grows, Kazakhstan must not overlook the development of coal chemistry, said Nikolai Radostovets, Executive Director of the Republican Association of Mining and Metallurgical Enterprises (AGMP), at the MINEX Kazakhstan forum.

    “Technologies around the world are constantly evolving. First it was aluminum, then copper and steel. Now rare earths are in high demand. But we also want to see investment interest in the coal industry. Many have recently told Kazakhstan to phase out coal combustion — and we understand this,” Radostovets said.

    Despite global energy transition initiatives and the rise of renewables, coal remains a vital energy source, he emphasized. “You see how the situation is changing. Coal is still a very important product. We need concrete proposals and actions from the government to develop coal chemistry. We’re looking at stimulating cluster-based initiatives, and our industry is actively working on forming clusters with local manufacturers.”

    Discussions are also underway regarding the development of copper and aluminum clusters. “I believe the president and prime minister, by supporting our sector’s cluster initiatives, will create opportunities for processing and developing new products,” he added.

    Global coal giant China Energy is currently selecting a suitable deposit in Kazakhstan to develop coal chemistry. In January, Prime Minister Olzhas Bektenov confirmed the company’s $4 billion interest in coal chemical investment projects in the country.

    Kazakhstan ranks among the world’s top 10 countries in coal reserves, with an estimated 33.6 billion tons. At current consumption rates, that supply could last 300 years. Currently, coal generates about 70% of Kazakhstan’s electricity.

    Vice Minister of Energy Sungat Yesimkhanov previously announced that up to 5 GW of coal-based energy capacity is expected to be introduced by 2035. This includes several power blocks at Ekibastuz GRES-1 and GRES-2, as well as new thermal plants in Kokshetau, Semey, and Ust-Kamenogorsk. While the government forecasts coal’s share in electricity generation to decline to 34% by 2035, major infrastructure projects remain coal-dependent.

  • Uzbekistan Signs Deals with US Firms for Critical Minerals Investment

    Uzbekistan Signs Deals with US Firms for Critical Minerals Investment

    Uzbekistan announced on Wednesday (April 9, 2025) that it has secured investment agreementswith U.S. companies to develop its minerals sector, as global demand for critical minerals continues to surge. These minerals—including copper, lithium, and cobalt—are vital for manufacturing high-tech products such as electric vehicles and solar panels.

    The move comes as both the U.S. and the European Union aim to reduce reliance on China, the world’s leading producer of critical minerals. A delegation from Uzbekistan’s government signed the agreements during meetings in Washington, according to the country’s trade ministry. The deals cover exploration, extraction, the production of grinding machinery, and training programs for Uzbek specialists.

    Central Asia, including former Soviet republics like Uzbekistan, has become a focal point for Western nations looking to diversify supply chains away from Russia and China. Uzbek President Shavkat Mirziyoyev has been pushing for economic liberalization after decades of isolation under his predecessor. In March 2025, he unveiled a $2.6 billion investment plan to boost the country’s mining and processing capabilities.

  • 15th International Mining and Geology Forum MINEX Kazakhstan Kicks Off in Astana

    15th International Mining and Geology Forum MINEX Kazakhstan Kicks Off in Astana

    The 15th anniversary of the International Mining and Geology Forum MINEX Kazakhstan has commenced in Astana, attracting over 100 leading speakers and 450 delegates from 30 countries, including Central Asia, Europe, North and South America, the Middle East, Southeast Asia, Africa, and Australia. The participation of global industry leaders highlights Kazakhstan’s growing significance as a key player in the global minerals market.

    The forum’s central theme, “A New Era in Kazakhstan’s Mineral Resource Development: From Exploration to Processing,” addressed critical industry topics such as sustainable development, ESG principles, technological innovation, digitalization, investment, exploration, and cross-border cooperation.

    During the plenary session, Nikolai Radostovets, Executive Director of the Association of Mining and Metallurgical Enterprises (AGMP), emphasized the need for continued reforms in subsoil use legislation and taxation. He noted that the Kazakhstani government is actively working to attract both foreign and domestic companies to geological exploration, with over 3,000 licenses already issued. A second phase of reforms in subsoil use is now anticipated.

    Radostovets highlighted that while the 2017 Subsoil Code initiated industry reforms—introducing a licensing system and establishing CRISCO Association—some issues remain unresolved. President Kassym-Jomart Tokayev has since stressed the importance of completing these reforms. Currently, the Ministry of Industry and Construction is reviewing over 60 amendments to the Subsoil Code, including proposals from AGMP.

    One key discussion point was the potential division of the Subsoil Code into separate codes for hydrocarbons and solid minerals, as seen in other countries, to address differing industry needs. Radostovets also underscored the importance of royalty rates for new deposits, stating that consultants are evaluating rates to align with international tax standards and encourage higher processing levels.

    Additionally, he called for public discussions on proposed amendments, noting that past legislative gaps in the Water and Land Codes had led to enforcement challenges. A working group under the Ministry will soon review amendments, with parliamentary consideration expected by September 2025.

    Radostovets also addressed the need for investment in coal, despite global shifts away from coal burning, emphasizing coal chemistry development and cluster initiatives for copper and aluminum. He expressed optimism that MINEX Kazakhstan would facilitate progress in the second phase of subsoil use reforms.

  • Adriatic Metals PLC Reports 2024 Financial Results Amid Strategic Expansion

    Adriatic Metals PLC Reports 2024 Financial Results Amid Strategic Expansion

    Adriatic Metals PLC, a Europe-based mining company, has published its audited financial statements for the year ended December 31, 2024. The company, now transitioning from exploration to revenue generation, highlighted progress at its flagship Vareš Silver Operation in Bosnia and Herzegovina, a project boosting local employment and economic growth.

    The announcement comes amid heightened EU scrutiny of mining activities as the bloc seeks to strengthen its critical minerals supply chain. Despite global commodity price fluctuations and political risks, Adriatic Metals secured 50million in funding in May 202430 million debt drawdown from Orion, rescheduling its first repayment to March 31, 2025.

    In early 2025, the company secured a 25 million prepayment deal with  Trafigura 50 million to expand the Vareš Processing Plant to 1.3Mtpa and enhance production at the Rupice Mine.

    The financials revealed a net loss of 62.491 million for 2024, compared to a∗ restated 30.112 million loss in 2023. Cash reserves stood at $20.697 million as of year-end.

    Adriatic Metals is also evaluating a London Stock Exchange listing transfer, potentially enabling FTSE UK Index inclusion. The company’s 2025 strategy focuses on debt repaymentand achieving nameplate capacity by mid-year.

  • Kazakhstan Explores Investment Opportunities with Turkey’s Çalik Holding

    Kazakhstan Explores Investment Opportunities with Turkey’s Çalik Holding

    Kazakhstan’s Minister of Industry and Construction, Ersayin Nagaspayev, held a meeting with Ahmet Çalık, Chairman of the Board of Çalik Holding, to discuss potential investment opportunities in the country’s industrial and mining sectors.

    Çalik Holding, a major Turkish financial-industrial group with an annual revenue of $2.5 billion, operates across 34 countries, including Central Asia, the Balkans, the Middle East, and Africa. The company specializes in resource extraction, construction, light industry, energy, and finance.

    The meeting focused on the group’s interest in investing in Kazakhstan’s economy, particularly in the mining sector. Çalik Holding is considering acquiring ready-to-extract deposits of precious and base metals such as gold, silver, copper, zinc, and lead, or conducting geological exploration in areas with high potential for mineral discovery.

    Both sides highlighted the strong potential for cooperation in industry, construction, mining, and geological exploration. Minister Nagaspayev emphasized that Kazakhstan has fully digitized its mineral rights application process through the unified “Minerals.e-qazyna.kz” platform. Additionally, the Ministry has prepared a list of 50 solid mineral deposits, which will be auctioned electronically in the second quarter of this year.

    At the conclusion of the meeting, both parties reaffirmed their interest in strengthening and expanding their partnership.

  • Anglo Asian Mining PLC Mines First Ore from Gilar Underground Deposit at Gedabek

    Anglo Asian Mining PLC Mines First Ore from Gilar Underground Deposit at Gedabek

    Anglo Asian Mining PLC, an AIM-listed gold, copper, and silver producer focused on Azerbaijan, has successfully extracted the first ore from its new underground mine, Gilar, located at the Gedabeksite.

    A maiden JORC mineral resources estimate, released on 11 December 2023, revealed that the Gilar deposit holds 6.10 million tonnes of mineralisation, with average grades of 0.88% copper (totaling nearly 54,000 tonnes) and 1.30 g/t gold (containing over 255,000 ounces).

    Earlier this month, the company mined 1,267 tonnes of ore from Gilar, averaging 0.65% copper(peaking at 1.63%) and 1.36 g/t gold (reaching up to 3.27 g/t). While development tunnels are still under construction, the extracted ore will be stockpiled until processing begins.

    Anglo Asian aims to steadily increase production in the coming months, targeting 50,000 to 60,000 tonnes of ore per month.

    Reza Vaziri, CEO of Anglo Asian, stated:
    “We are thrilled to reach this key milestone at Gilar after years of exploration and development. Our team’s dedication has been instrumental in this achievement. With 54,000 tonnes of copper and 255,000 ounces of gold confirmed, Gilar is pivotal to our strategy of becoming a mid-tier, copper-focused producer. We are now focused on scaling production to meet our monthly target.”

  • Uzbekistan Boosts Rare Metal Exploration and Production with $2.6 Billion Investment

    Uzbekistan Boosts Rare Metal Exploration and Production with $2.6 Billion Investment

    Uzbekistan has announced a major push into the exploration and production of rare metals, unveiling 76 new industry projects worth a combined $2.6 billion. The initiative, detailed on the official website of the country’s president, highlights Uzbekistan’s ambition to become a key player in the global race for strategically important resources.

    President Shavkat Mirziyoyev recently reviewed a report from the Ministry of Mining and Geology, which revealed that Uzbekistan has identified deposits of over 30 rare metals, including lithium, tungsten, molybdenum, germanium, and vanadium. Over the next three years, the government plans to significantly increase funding for geological exploration and scientific research to enhance the extraction of these valuable resources.

    A key focus will be on improving the extraction of rare metals from ore deposits and industrial waste, as well as developing high-value-added production. One example is the processing of waste from the Ingichka tungsten mine, which began producing concentrates in mid-2024. Additionally, 18 similar projects aimed at recovering rare metals from industrial byproducts are already in the pipeline.

    To support these efforts, Uzbekistan will establish technoparks in the Samarkand and Tashkent regions, areas rich in tungsten and molybdenum reserves. The country also plans to build new laboratories, training centers, and leverage international expertise to advance enrichment technologies.

  • Adriatic Metals CFO Michael Horner Acquires 4,700 Shares

    Adriatic Metals CFO Michael Horner Acquires 4,700 Shares

    Adriatic Metals PLC (ASX:ADT, LSE:ADT1, OTCQX:ADMLF) has announced that its Chief Financial Officer, Michael Horner, has purchased 4,700 ordinary shares of the company. The transaction took place on the London Stock Exchange (LON:LSEG) on Monday, with share prices ranging between £2.01 and £2.02, totaling an investment of £9,449.

    Horner’s purchase is viewed as a positive indicator of confidence in the company’s future, as insider transactions by senior executives often signal strong internal expectations. Adriatic Metals, a key player in the mining industry, is required to publicly disclose such transactions to maintain transparency and investor trust.

    The notification marks Horner’s first reported share acquisition since assuming his role. Managing Director & CEO Laura Tyler was responsible for arranging and authorizing the announcement, ensuring compliance with regulatory requirements.

    By making this investment, Horner adds to the growing record of executive share dealings at Adriatic Metals, offering investors further insights into the leadership’s commitment to the company’s long-term success.

  • LKAB to Replace Aging Sorting Plant in Vitåfors

    LKAB to Replace Aging Sorting Plant in Vitåfors

    Swedish mining company LKAB has announced plans to replace its aging sorting plant in Vitåfors, which has reached the end of its service life. The new facility will be constructed adjacent to the existing plant on a 24,000-square-meter site, improving efficiency and accommodating larger volumes of iron ore processing.

    “The sorting plant has served us well over the years, but it no longer meets modern operational requirements in terms of work environment and technology. Additionally, we need to handle greater production volumes,” said Monika Sammelin, Area Manager at LKAB.

    The project will begin with excavation work to create space for the new plant, followed by foundation engineering and groundwork preparations. A construction contract will be signed when building work officially begins.

    This initiative follows an earlier agreement in June 2024, when LKAB partnered with NCC to build a direct reduction plant and related infrastructure in Malmberget. The companies are now expanding their collaboration in the Swedish Ore Fields.

    “By being involved from an early stage, we can provide both resources and specialist expertise to ensure an efficient project implementation. We are pleased to support LKAB’s continued growth,” said Helena Hed, Head of NCC Green Industry Transformation.

  • Kazakhstan’s Solidcore Resources Invests in Renewable Energy with Bank Loan

    Kazakhstan’s Solidcore Resources Invests in Renewable Energy with Bank Loan

    Solidcore Resources plc, a gold mining company, has announced a significant investment in renewable energy projects. The company has secured a seven-year loan from Kazakhstan’s CentreCredit Bank to fund several renewable energy initiatives.

    The funds will be used to launch renewable energy projects at the Bakyrchik and Varvarinskoye deposits. At Bakyrchik, a 17 MW solar power plant will be constructed, while at Varvarinskoye, a 23 MW solar plant will be built alongside a 40 MW gas piston unit to ensure energy supply during periods of low sunlight.

    Approval for infrastructure related to the Kyzyl project is expected to take place this year, with alternative energy generation expected to begin in 2026.

    This deal marks the first debt financing transaction after Polymetal International plc was rebranded and its key development strategy was updated. Going forward, Solidcore plans to collaborate with CentreCredit Bank and other local banks.

    The mining company estimates that atmospheric emissions will be reduced by 27% compared to 2023 levels. The renewable energy projects are expected to reduce dependence on external energy sources, particularly coal-fired power plants, and mitigate the impact of rising energy costs.