MINEX Forum

Tag: Mining industry

  • Czech Republic Ends Hard Coal Mining After Nearly 250 Years

    Czech Republic Ends Hard Coal Mining After Nearly 250 Years

    The Czech Republic has formally brought nearly two and a half centuries of hard coal mining to a close, marking the moment with a symbolic final cart of black coal lifted from a depth of 1300 metres. The ceremony took place on Wednesday at the CSM mine in Stonava, close to the Polish border, and was attended by current and former miners, officials, and invited guests.

    State-owned mining company OKD confirmed that the CSM operation was the country’s last active hard coal mine and said production had become unsustainable due to rising costs. Speaking at the event, OKD general director Roman Sikora described the closure as a historic milestone and paid tribute to generations of miners who shaped the country’s industrial development.

    Over its long history, the CSM mine developed an underground network exceeding one million metres in length and became the setting for several notable moments, including a wedding held almost 900 metres below ground in 1992. The mine was also visited underground by playwright and former Czech president Václav Havel in the early 1990s.

    The shutdown marks the end of an era for the Moravian-Silesian region, long defined by heavy industry and coal production. While around 700 workers will remain involved in decommissioning and closure activities, others are expected to transition into retraining programmes.

    Hard coal, also known as black coal or anthracite, is valued for its high carbon content and energy density. Although underground hard coal mining has now ended in the Czech Republic, lignite extraction in open-cast mines is expected to continue until 2033. Comparable closures have already taken place elsewhere in Europe, including Germany, which shut its last hard coal mine in the Ruhr region in 2018.

  • Ukrainian mining and steel sectors face weaker outlook than broader industry

    Ukrainian mining and steel sectors face weaker outlook than broader industry

    Ukraine’s mining and metallurgical industries are experiencing a more difficult economic situation than the country’s industrial sector on average, according to conjunctural assessments for November 2025. The balance of responses assessing current order volumes stood at minus 53% in metal ore mining and minus 46% in metallurgy, compared with minus 36% for industry as a whole, indicating a stronger prevalence of negative sentiment in these sectors.

    Despite the downturn, companies in mining and steel did not expect major changes in production volumes over the following three months. However, guaranteed capacity utilization continues to decline. Since the beginning of 2025, the order backlog at steel enterprises has fallen from 2.5 months to 1.9 months, while in metal ore mining it dropped from 3.2 months to 1.8 months. By contrast, the average backlog across Ukrainian industry in November exceeded four months.

    Labor market expectations also point to mounting pressure. In November, the balance of responses on expected employment changes over the next three months was minus 53% in metal ore mining, compared with minus 11% in metallurgy and minus 7% across industry, signaling a high risk of workforce reductions in the mining segment.

    Investment expectations mirror this trend. The balance of responses regarding future investment was minus 20% in metal ore mining and minus 5% in metallurgy, both well below the industry-wide average of 4%, suggesting weaker investment prospects for 2026.

    Industry representatives cite several factors behind the deterioration, including declining global raw material prices, high electricity tariffs that have already forced some operations to suspend activity, and reduced output at Ferrexpo linked to delayed VAT reimbursements.

    Under wartime conditions, mining and steel companies are prioritizing the maintenance of existing production capacities rather than expansion. With steel prices remaining low on global markets, companies report limited financial capacity for long-term investment, while surveys show that even medium-term business planning has become increasingly difficult.

  • Kazakhstan outlines major mining and metallurgical projects planned for the coming year

    Kazakhstan outlines major mining and metallurgical projects planned for the coming year

    After reviewing the mining and metallurgical facilities launched across the country last year, Kazakhstan is now turning its attention to key sector development plans for the year ahead. Several large-scale projects are set to move forward, spanning titanium, zirconium, polymetals and copper production.

    In 2026, the Obukhov Mining and Processing Plant in the North Kazakhstan region is scheduled to be relaunched at the Obukhov titanium-zirconium deposit. Rare Metals Kazakhstan plans to mine up to 800,000 tonnes of ore annually and produce around 30,000 tonnes of rutile-zirconium concentrate and ilmenite. Most of the output will be exported to China, which dominates global production and consumption of rare and rare-earth metals.

    Another project involving the resumption of mining is underway in the Kyzylorda region, where development of the Shalkiya polymetallic deposit will continue. The asset belongs to a subsidiary of Tau-Ken Samruk. The concentrator is designed to process up to 4 million tonnes of ore per year, with total investments in the non-ferrous metals project estimated at 323 billion tenge.

    In addition, a hydrometallurgical plant is expected to open in the Pavlodar region next year. Fonet Er-Tai Mining plans to produce cathode copper using raw materials from the Kodzhanchad group of deposits. The facility will have an annual capacity of 5,000 tonnes, with investments totaling 9.4 billion tenge.

    Another major development is the launch of a mining and processing plant at the Koksai deposit in the Zhetysu region. Construction is being carried out by the Consolidated Construction Mining Company, a subsidiary of Kazakhmys. The project предусматривает annual production of up to 50 million tonnes of copper ore. In addition to copper, the deposit contains silver and gold, with total ore reserves exceeding 823 million tonnes. Total capital expenditures for the project reached 976 billion tenge.

  • Unexpected bid intensifies battle for control of Eurasian Resources Group

    Unexpected bid intensifies battle for control of Eurasian Resources Group

    A new twist has emerged in Kazakhstan’s mining sector after businessman Shahmurat Mutalip put forward an offer to acquire a 40% stake in Eurasian Resources Group (ERG), entering a prolonged shareholder dispute and challenging the position of the company’s chief executive, Shukhrat Ibragimov. According to the Financial Times, Mutalip has reached a preliminary agreement with the families of ERG co-founders Patokh Shodiev and the late Alexander Mashkevich to purchase their combined holdings for $1.4 billion, subject to the Ibrahimov family waiving its right of first refusal.

    ERG was founded in the 1990s on the basis of former state-owned mining assets and later became one of the most prominent post-Soviet companies to list in London. Today, ownership is split between the three founding families, each holding about 20%, and the government of Kazakhstan, which controls the remaining 40%. The talks are taking place amid rising international competition for metals critical to clean energy, artificial intelligence and industrial infrastructure, increasing the strategic value of ERG’s assets.

    Mutalip’s move has surprised the market, given his limited background in mining and his career roots in construction. His recent interest in large-scale resource assets, including a reported bid for a controlling stake in Kazzinc, has raised questions about financing and long-term strategy. At the same time, ERG continues to face financial pressure due to its reliance on loans from Russian state banks under Western sanctions, adding further uncertainty to the outcome of the ownership battle.

  • Poland’s Parliament Approves Bill Facilitating Coal Mine Closures and Compensation for Miners

    Poland’s Parliament Approves Bill Facilitating Coal Mine Closures and Compensation for Miners

    Poland’s parliament has approved a landmark government bill aimed at easing the country’s transition away from coal. The new legislation facilitates the closure of coal mines, introduces financial support for displaced miners, and promotes the redevelopment of former mining areas. The measure, which gained strong backing from Prime Minister Donald Tusk’s ruling coalition, is designed to support the country’s shift to cleaner energy sources while mitigating the impact on coal-mining communities.

    The bill, which will allow mining companies to close operations with state-backed financial support, is part of Poland’s broader energy transition plan. Under the legislation, coal mines can transfer their assets to local authorities or state entities for redevelopment projects, creating new opportunities for investment, revitalization, and infrastructure construction in former mining regions. In addition to mine closures, the bill provides protective benefits for workers, including severance payments of up to 170,000 zloty (€40,000) for those losing their jobs.

    The government aims to phase out thermal coal mining entirely by 2049, with an initial target of closing five mines within the next decade. The bill received broad support from MPs within the ruling coalition, with 241 votes in favor and just six against. However, the far-right opposition parties abstained from voting, with some critics arguing that the bill does not adequately provide alternatives to coal for affected communities.

    Poland remains Europe’s most coal-dependent nation, with coal accounting for 57% of its power generation in 2024. The transition away from coal has raised concerns, particularly in the Silesian-Dąbrowa region, home to many of the country’s coal mines. Despite this, the government has emphasised that the bill will help ensure a “just transition” for miners and stimulate new investment in coal regions.

    The legislation now heads to Poland’s Senate for approval before reaching President Karol Nawrocki’s desk for signing into law. While Nawrocki has previously voiced strong support for the coal industry, it remains to be seen whether he will sign the bill or veto it.

  • Rio Tinto Scales Back Lithium Expansion, Prioritises Capital Discipline and Existing Projects

    Rio Tinto Scales Back Lithium Expansion, Prioritises Capital Discipline and Existing Projects

    Rio Tinto has pared back its ambitions for rapid lithium growth, telling investors at its capital markets day in London that it will limit investment to projects already under development, with any further expansion contingent on market conditions and strict returns criteria.

    CEO Simon Trott confirmed that the company will complete its current slate of lithium projects — including the Rincon brine operation in Argentina and a single spodumene mine in Canada — to reach approximately 200,000 tonnes per year of lithium capacity by 2028. This figure is below the miner’s earlier guidance of 225,000 t/y, marking a recalibration of expectations amid a volatile market.

    Trott emphasised that Rio Tinto remains bullish on long-term lithium demand, particularly from grid-scale energy storage, but said capital discipline would take precedence over aggressive growth. The company is prioritising delivery of its major ongoing developments, including the Oyu Tolgoi underground expansion in Mongolia and the Simandou iron-ore megaproject in Guinea. Group capital expenditure is expected to fall below $10 billion from 2028.

    Rio Tinto has already halted spending at the Jadar lithium project in Serbia, which has been placed into care and maintenance after regulatory setbacks. The company is also reassessing its next steps in Canada, where the Whabouchi and Galaxy deposits are under review. Energy chief Jérôme Pécresse said both projects will remain active at minimal cost while Rio evaluates which — if either — will proceed. “It’s a reasonable decision to open one mine, not two, but too early to say which one,” he said.

    Trott reiterated that any new lithium investment would move forward only when market fundamentals justify it and when projects meet Rio Tinto’s financial thresholds. The miner has allocated roughly $3 billion per year for growth across the portfolio but will not deploy capital that cannot “move the needle” in terms of shareholder value.

    “We have a clear path to 200,000 tonnes by 2028 and that will be a fantastic business for us,” Trott said. “On other projects, we’ll continue to assess them based on the market fundamentals as they come up to sanction.”

    He added that Rio Tinto still possesses “the best undeveloped lithium assets in the business,” but emphasised that growth for its own sake is off the table. Maintaining a strong balance sheet is the priority, with cost savings from asset reviews and infrastructure optimisation expected to bolster shareholder returns.

  • Uzbekistan Positions Itself as a Global Critical Minerals Hub Through New “Mine-Metal-Market” Model

    Uzbekistan Positions Itself as a Global Critical Minerals Hub Through New “Mine-Metal-Market” Model

    Uzbekistan is rapidly emerging as a major industrial force in Central Asia, leveraging its rich geological endowment and newly modernized mineral sector to join the global critical minerals value chain. With the country ranked third worldwide in gold reserves and eighth in copper, but with only one-third of its territory fully explored, officials say the potential for new discoveries remains vast.

    Under President Shavkat Mirziyoyev, Uzbekistan has overhauled its geological and industrial policies, launching modern exploration programs and implementing advanced digital tools such as 3D modeling, JORC-compliant reporting and an updated subsoil management system aligned with international standards. A new law on the use of subsoil resources, which came into force in February 2025, is reshaping the regulatory environment to prioritize sustainability, investor protection and the development of high value-added industries.

    At the center of this transformation is the Uzbekistan Technological Metals Complex (TMK), established in 2024 and tasked with demonstrating the country’s capabilities in critical raw materials and strengthening its role in global markets. TMK operates across the entire value chain — from mining to refined metals to finished industrial products — forming a fully integrated “mine-metal-market” ecosystem that includes exploration, processing, R&D and manufacturing.

    The company is currently advancing more than 100 projects across over 25 strategic raw materials, including tungsten, molybdenum, lithium, cobalt and graphite. As Uzbekistan expands its critical minerals ambitions, TMK has become a focal point of international cooperation, with the country signing strategic agreements with the United States, the European Union, Germany, the United Kingdom, Korea and several Central Asian neighbors. TMK itself now works with more than 50 global companies and has joined nine leading international industry associations, positioning it as an emerging player in shaping global standards and accessing cutting-edge technologies.

    Innovation and education have become key pillars of TMK’s strategy. The company has forged partnerships with top-tier institutions such as MIT in the United States and KU Leuven in Belgium to promote joint research, industrial PhD programs and technology transfer. In 2025, TMK launched the Higher School of Technological Metals — Uzbekistan’s first specialized educational institution meeting international standards for the critical minerals sector — developed in cooperation with the University of Pisa and the China University of Geosciences.

    TMK has also implemented globally recognized compliance and ESG practices, including ISO certifications in anti-corruption, compliance management and environmental management. Its initiatives are showcased at nearly 20 major international forums and exhibitions each year, including the Future Minerals Forum, PDAC and MINEX Europe, as the company seeks to expand engagement with global investors and industry leaders.

    As demand for critical minerals accelerates worldwide, Uzbekistan is positioning itself as a new strategic center anchored by a modern regulatory framework, substantial geological potential and a diversified value chain. Through TMK’s integrated approach and global cooperation network, the country aims to become a stable and reliable partner in the international critical minerals market.

  • Rio Tinto to Halt Serbia’s Jadar Lithium Project as Costs Rise and Progress Stalls

    Rio Tinto to Halt Serbia’s Jadar Lithium Project as Costs Rise and Progress Stalls

    Rio Tinto will suspend development of its long-delayed Jadar lithium project in Serbia, effectively mothballing what was once slated to become Europe’s largest lithium mine. The decision, first reported by Bloomberg and later confirmed by a company spokesperson, places the nearly $3-billion project into “care and maintenance” as the miner seeks to reduce spending and refocus its lithium strategy.

    The move ends Rio’s two-decade effort to unlock the massive Jadar deposit, discovered in 2004 and estimated to produce 58,000 tonnes of battery-grade lithium carbonate annually. Despite the project’s strategic importance for Europe’s battery supply chain, Jadar has repeatedly stalled amid regulatory hurdles, political uncertainty and strong community opposition. Serbia revoked Rio’s licence in 2022 over environmental concerns and only reinstated it last year, but permitting made little progress.

    In the internal memo cited by Bloomberg, Rio said it could no longer justify the level of investment given the limited advancement of the project. Earlier this year, the company raised Jadar’s cost estimate to nearly $3 billion, citing the need to meet stringent EU environmental and human rights standards.

    The suspension is part of broader cost-cutting measures under new CEO Simon Trott, who has introduced restructuring efforts and workforce reductions across the company. With Jadar shelved, Rio is expected to concentrate its lithium ambitions on South America, including Argentina’s Rincon project and joint ventures in Chile.

    Analysts say the decision underscores Rio’s pivot away from hard-rock assets inherited through its merger with Arcadium, and some expect those projects could be sold. The halt also deals a blow to EU plans to secure domestic lithium supply, as Jadar was projected to cover nearly 90% of Europe’s current demand.

  • Kazakhstan’s Sarytogan Deposit Confirmed as Source of Ultra-Pure Graphite

    Kazakhstan’s Sarytogan Deposit Confirmed as Source of Ultra-Pure Graphite

    Australian-listed Sarytogan Graphite Limited has confirmed that its Sarytogan deposit in Kazakhstan contains exceptionally pure graphite, with a carbon content reaching 99.9992%, according to the company’s latest research results.

    Geological surveys and drilling programs at the site have delivered outstanding findings. Results from the first 20 drill holes revealed graphite grades ranging from 30.8% to 41.3%, with several samples exceeding the 40% mark — levels rarely seen in global graphite deposits.

    With estimated reserves of 8.6 million tonnes of ore, Sarytogan ranks among the richest graphite deposits in the world, representing roughly one-third of global graphite resources, according to Orda.kz. The mine’s operational life is projected to extend for at least 60 years, though ongoing exploration suggests the resource base could be significantly larger.

    Sarytogan Graphite’s managing director Sean Gregory emphasized the uniqueness of the deposit, noting that drilling results confirm the presence of thick, high-grade graphite layers. “These results strengthen Sarytogan’s position as a world-class source of ultra-pure graphite,” he said.

    Flotation tests demonstrated that even without chemical pre-treatment, the thermally purified graphite reached 99.9992% carbon purity. Such premium-grade graphite is critical for use in lithium-ion batteries, advanced energy storage systems, and nuclear technologies.

  • Armenia’s Prime Minister Calls for Transparency and Higher Standards in Mining at Tsaghkadzor Forum

    Armenia’s Prime Minister Calls for Transparency and Higher Standards in Mining at Tsaghkadzor Forum

    The Mining Armenia Forum 2025 opened on Friday in the resort town of Tsaghkadzor, bringing together government officials, industry leaders, and experts to discuss opportunities and challenges facing Armenia’s mining sector.

    Prime Minister Nikol Pashinyan, delivering opening remarks, underscored the importance of transparency, professionalism, and education in the industry. He acknowledged the sector’s negative public perception and emphasized the need to rebuild trust.

    “We must recognize that the subsoil belongs to the people and the state, and it is essential for citizens to feel this is true,” Pashinyan stated. Highlighting state participation in the Zangezur Copper-Molybdenum Combine and the Amulsar mine, he noted that these projects symbolize shared national ownership.

    According to Pashinyan, the Zangezur Copper-Molybdenum Combine paid 148% more in taxes between 2018 and 2025 compared with the previous seven years. “What matters is not only the revenue growth for the state budget, but the fact that these funds translate into roads, schools, kindergartens, and security,” he said.

    The Prime Minister also stressed Armenia’s efforts to align its mining practices with leading international environmental standards, particularly as the country prepares to host the COP17 Biodiversity Conference in 2026. “Changing traditions is not easy, but care for the environment is a priority,” he said.

    He further emphasized mining as a knowledge-based industry requiring highly qualified professionals across multiple fields, noting its role in driving education, business development, and career opportunities for Armenians. “The more we raise our standards, the more highly skilled professionals we will produce,” he added.