MINEX Forum

Tag: Rare Earth Minerals

  • Kazakhstan Unveils $500 Million Geology Push and New Rare Earth Discovery at GECA 2026 Forum

    Kazakhstan Unveils $500 Million Geology Push and New Rare Earth Discovery at GECA 2026 Forum

    Kazakhstan’s Prime Minister Olzhas Bektenov has announced a tenfold increase in state funding for geological exploration, with approximately $500 million to be invested over the next three years, as the country moves to unlock what officials describe as one of the world’s most significant untapped mineral resource bases.

    Speaking at the plenary session of the Geoscience and Exploration of Central Asia forum — GECA 2026 — in Astana, Bektenov framed geological exploration as a strategic foundation for Kazakhstan’s broader economic modernisation, linking the sector’s development to the country’s newly adopted Constitution and President Kassym-Jomart Tokayev’s reform agenda. The forum brought together representatives of international organisations, the diplomatic corps and both domestic and foreign mining companies.

    Kazakhstan currently holds approximately 10,000 registered deposits, with total reserves across key commodities estimated at over 2,300 tonnes of gold, 4.3 billion tonnes of oil, 3.8 trillion cubic metres of gas, 33.5 billion tonnes of coal and 26.7 billion tonnes of iron. A notable recent addition to the country’s resource inventory is the Kuyryktykolskoye rare earth deposit, discovered in 2025, which holds an estimated 800,000 tonnes of cerium, neodymium, yttrium and other rare earth elements.

    Bektenov highlighted a series of structural reforms already underway in the geology and subsoil use sector. A unified subsoil use portal has been launched to provide transparent access to licensing services, with a first-come, first-served allocation model drawn from international best practice that has helped attract approximately 280 billion tenge in private investment into geological exploration over the past three years. International reserves reporting standards have been adopted, and the country is transitioning to geophysical mapping at a scale of 1:50,000 to improve the quality of subsurface data available to investors.

    Among the longer-term infrastructure priorities announced is the creation of a geology cluster in Astana, bringing together an analytical laboratory, core storage facility and a geological information archive — a hub intended to concentrate technical and human resources and accelerate specialised research. Work is also ongoing to extend the country’s geological and geophysical survey coverage to 2.2 million square kilometres, with current coverage having reached approximately 2.04 million square kilometres.

    Discussions at the forum also focused on digital transformation and the integration of artificial intelligence into exploration and subsoil management, with contributions from Kazakhstan’s Minister of Industry and Construction Yersaiyn Nagassayev, Uzbekistan’s Deputy Minister of Mining Industry and Geology Rustam Yusupov and senior geological officials from Tajikistan.

  • Kazakhstan to Launch National Digital Subsoil Mapping Project

    Kazakhstan to Launch National Digital Subsoil Mapping Project

    Kazakhstan is preparing to develop a national digital subsoil map using advanced geological and satellite technologies, the Ministry of Industry and Construction told LS.

    The project will be implemented in stages, with the first phase scheduled for 2026–2028, covering about 100,000 square kilometers of the country’s most promising ore-bearing regions, prioritizing rare and rare-earth minerals.

    According to the ministry, fieldwork for the mapping will involve four main stages:

    1. Satellite-based remote sensing, including spectral analysis of geological indices;

    2. Geophysical and geochemical studies;

    3. On-site exploration, such as drilling and underground works;

    4. Laboratory testing to confirm anomalies and refine deposit boundaries.

    This year, the ministry is developing 20 design and cost-estimate documents for geological studies at a scale of 1:50,000 to initiate the first phase. The total cost will be determined after documentation is finalized.

    Officials emphasized that this phase represents a pre-exploration stage, serving as groundwork before full-scale exploration and mining. “This process helps study the subsoil in detail, confirm forecasts, and identify potential mineral deposits. Ultimately, it provides well-prepared areas with reliable geological data, reducing risks for future investors,” the ministry noted.

    A second phase will expand the mapping area by another 350,000 square kilometers. The ministry added that creating a detailed digital map will be costlier than conventional cartography due to the higher observation density, drilling requirements, sample collection, and detailed satellite image analysis.

    Service providers will be selected through a public procurement process.

    Earlier in July 2025, state auditors criticized the ministry for delays in digitizing geological data and establishing a digital data bank. The report warned that the lack of modern geological archives creates risks of losing or damaging valuable geological information.

  • Uzbekistan and Slovakia Hold Inaugural Intergovernmental Meeting to Boost Economic Cooperation

    Uzbekistan and Slovakia Hold Inaugural Intergovernmental Meeting to Boost Economic Cooperation

    The first meeting of the Uzbek-Slovak Intergovernmental Commission on Economic Cooperation took place in Tashkent, according to Trend, citing Uzbekistan’s Ministry of Investment, Industry, and Trade. The session was co-chaired by Vladimir Simonek, Slovakia’s Deputy Minister of Economy, and Shokhrukh Gulamov, Uzbekistan’s Deputy Minister of Investment, Industry, and Trade.

    The discussions focused on deepening economic collaboration in key sectors, particularly renewable energy, agriculture, and critical raw materials. Special attention was given to geological exploration, development, and processing of rare and rare earth minerals, indicating both countries’ commitment to enhancing resource-based cooperation.

    At the conclusion of the meeting, both sides signed a final protocol that outlined the agreements reached and reaffirmed their commitment to furthering bilateral relations. They also agreed to hold the next session of the Commission in Bratislava, Slovakia.

    Additionally, during a separate meeting in March 2025, Uzbekistan and Slovakia reached an agreement to establish a Business Council aimed at strengthening trade and economic relations between the two nations. This initiative is expected to facilitate more effective business cooperation and open new opportunities for mutual investment.

  • Trump Warns Ukraine of “Big Problems” Over Minerals Deal, Zelensky Seeks Clarifications

    Trump Warns Ukraine of “Big Problems” Over Minerals Deal, Zelensky Seeks Clarifications

    US President Donald Trump has accused Ukrainian President Volodymyr Zelensky of attempting to back out of a rare earth minerals deal, warning of “big problems” if Kyiv refuses to sign. The agreement, expected to be finalized this week, has faced last-minute revisions, prompting concerns from Ukraine.

    Trump, speaking aboard Air Force One on Sunday, claimed Zelensky was seeking to renegotiate terms, possibly in exchange for NATO membership—a demand he dismissed as unrealistic. “If he’s looking to renegotiate the deal, he’s got big problems,” Trump said.

    However, Zelensky denied linking the deal to NATO, stating Tuesday that membership was “never part of this agreement.” He emphasized Ukraine’s readiness for an unconditional ceasefire but acknowledged that the US proposal had evolved significantly.

    A new draft, submitted by the US Treasury Department and reviewed by CNN, expands American control over Ukraine’s mineral resources, including oil, gas, and rare earth metals. It also proposes a joint investment fund managed mostly by US appointees, raising fears in Kyiv over sovereignty and repayment of past US aid.

    Zelensky confirmed that negotiations were ongoing but cautioned that the deal had been revised multiple times. “We are for cooperation with the United States,” he said, though Ukraine opposes clauses treating past aid as a “contribution” to the fund.

    Meanwhile, Trump has also pressured Russia, threatening secondary sanctions if Moscow obstructs a ceasefire. Finnish President Alexander Stubb, after meeting Trump, suggested April 20 as a deadline for peace talks.

  • Portugal Discovers Rare Mineral Deposits, Poised to Become a Strategic Player in Europe

    Portugal Discovers Rare Mineral Deposits, Poised to Become a Strategic Player in Europe

    In a groundbreaking development, rare mineral deposits have been identified in Portugal, potentially positioning the country as a strategic protagonist in the global market and transforming its future, as well as that of Europe. The discovery comes at a time when the importance of rare earth elements in the development of cutting-edge technologies is gaining global prominence. Historically, regions like Ukraine and market-dominant powers such as China have dominated this sector. However, the recent findings in Portugal could shift this dynamic.

    According to MiningWatch Portugal, an independent network monitoring the country’s extractive industry, four significant rare earth deposits have been located in the Alentejo region, near the border with Estremadura. These deposits are situated in Monforte-Tinoca, Assumar, Crato-Arronches, and Penedo Gordo.

    In Monforte, Iberian Resources Portugal has already secured a contract for prospecting and research, uncovering not only rare earths but also valuable minerals like gold, silver, lead, zinc, tungsten/wolfram, and tin. Similarly, in Assumar, the same company has submitted a request for prospecting and investigation, targeting similar minerals. Additionally, exploration contracts have been issued for sites in Crato and Arronches.

    Meanwhile, in Penedo Gordo, Acúrcio Henriques Parra has applied for prospecting and investigation rights. This area has confirmed deposits of rare earths, alongside other valuable minerals such as zirconium, hafnium, titanium, niobium, tantalum, yttrium, and scandium.

    These discoveries could significantly enhance Portugal’s role in the global supply chain of rare minerals, reducing Europe’s reliance on external markets and fostering technological advancement.

  • Putin Calls for Accelerated Lithium Mining as Russia Seeks Self-Sufficiency

    Putin Calls for Accelerated Lithium Mining as Russia Seeks Self-Sufficiency

    Russian President Vladimir Putin has urged the country to expedite the development of its domestic lithium and rare earth mineral deposits, citing the strategic importance of these resources for high-capacity battery production and advanced technologies.

    Speaking at a conference in Moscow, Putin criticized the country’s delay in mining lithium, stating, “We still do not mine lithium. And how can we develop without it? But we can do it. And we could have done it 10 or 15 years ago.”

    Russia possesses an estimated 1 million tons of lithium reserves, according to the United States Geological Survey (USGS), with Russian estimates placing lithium oxide reserves at 3.5 million tons. However, prior to the conflict in Ukraine, the country relied on lithium imports, which have been severely disrupted by Western sanctions. As a result, Moscow has intensified efforts to extract its own lithium and aims to eliminate imports of the metal and other rare earth elements by 2030.

    Additionally, Russian forces are advancing toward one of Ukraine’s largest lithium deposits, further underscoring the geopolitical significance of these critical minerals in the ongoing conflict.

  • Unclear Whether Ukraine-US Rare Earth Saga is a Masterstroke or Colonial Appropriation

    Unclear Whether Ukraine-US Rare Earth Saga is a Masterstroke or Colonial Appropriation

    The ongoing saga between Ukraine and the United States over rare earth elements and critical minerals has sparked debate over whether this is a strategic masterstroke by Ukraine or a case of colonial-style resource appropriation by the US. Deep beneath eastern Ukraine lies a treasure trove of mineral wealth, including coal, iron ore, manganese, and other exotic minerals. These resources have long been coveted by global powers, from Tsar Alexander II in the 19th century to Adolf Hitler during World War II.

    Recently, former US President Donald Trump has turned his attention to Ukraine’s mineral riches, proposing a deal that would grant the US 50% of future revenues from these resources. This proposal, championed by Senator Lindsey Graham, emerged following a meeting between Trump and Ukrainian President Volodymyr Zelenskyy last September. Zelenskyy reportedly offered the US a direct stake in Ukraine’s rare earth elements in exchange for continued military support.

    However, critics argue that the deal could be economically devastating for Ukraine, with some comparing it to the harsh reparations imposed on Germany after World War I. The feasibility of the proposal is also under scrutiny, as the geological and industrial realities of mining in Ukraine raise questions about its profitability. Additionally, the deal appears contradictory to Trump’s broader economic policies, which have focused on reducing reliance on foreign resources.

  • Ukraine Rejects US Bid for Rare Earth Minerals

    Ukraine Rejects US Bid for Rare Earth Minerals

    In a recent development, Ukraine has turned down a proposal from the United States to acquire 50% of the country’s rare earth minerals. President Volodymyr Zelenskiy is seeking to negotiate a more favorable deal.

    US Treasury Secretary Scott Bessent presented the draft contract to Zelenskiy during their meeting on Wednesday. However, Zelenskiy did not sign the document, stating that he needed to study it further and consult with others.

    Zelenskiy is pushing for US and European security guarantees to be directly tied to any agreement on the mineral reserves. A senior Ukrainian official mentioned that Kyiv is looking for a “better deal”.

    The Trump administration has indicated that it expects Ukraine to grant access to its natural resources, including critical minerals, in exchange for military and economic support against Russia, which invaded in 2022.

    While rare earth minerals are relatively abundant globally, they are often not found in concentrations that make extraction and refining economically viable. Outside of China, the largest reserves are located in Brazil, India, Australia, Russia, Vietnam, and the US.

    US Geological Survey data shows that Ukraine has no major known rare-earth reserves. However, the country’s geological agency has identified some deposits, primarily in areas under partial Russian control. Ukraine also has reserves of other critical minerals, including titanium, lithium, and graphite.

    The Ukrainian Embassy in Washington and a spokesperson for the White House National Security Council did not respond to requests for comment.

  • Trump Proposes Rare Earth Deals with Ukraine in Exchange for U.S. Aid

    Trump Proposes Rare Earth Deals with Ukraine in Exchange for U.S. Aid

    U.S. President Donald Trump announced on Monday that he wants Ukraine to supply the United States with rare earth minerals as compensation for financial aid provided to support Ukraine’s war efforts against Russia.

    Speaking to reporters at the White House, Trump stated that Ukraine was open to the idea, emphasizing the need for “equalization” in return for Washington’s nearly $300 billion in assistance.

    “We’re telling Ukraine they have very valuable rare earths,” Trump said. “We’re looking to do a deal with Ukraine where they’re going to secure what we’re giving them with their rare earths and other things.” However, it remains unclear whether Trump was using “rare earths” to refer specifically to rare earth elements or to a broader category of critical minerals.

    Rare earths are a group of 17 metals essential for electric vehicles (EVs), cellphones, and other electronics due to their role in power conversion. The U.S. Geological Survey classifies 50 minerals as critical to the nation’s economy and national security, including rare earth elements, nickel, and lithium.

    While Ukraine possesses significant deposits of uranium, lithium, and titanium, none rank among the world’s top fivein volume. The United States also has untapped reserves of these and other critical minerals.

    Currently, the U.S. has only one active rare earths mine and limited processing capacity, although several companies are working on domestic projects. Meanwhile, China remains the world’s largest producer of rare earths and other critical minerals.

  • Norway Halts Controversial Arctic Seabed Mining Plans Amid Political Deal

    Norway Halts Controversial Arctic Seabed Mining Plans Amid Political Deal

    Norway has temporarily paused its plans to mine the Arctic seabed, following an agreement with the Socialist Left Party (SV). This small environmentalist party negotiated the delay in exchange for supporting the national budget.

    The Norwegian government had planned to issue its first deep-sea mining licenses in early 2025 but will now focus on conducting further environmental impact assessments and refining regulatory frameworks. “This is a postponement, not an end to the process,” stated Prime Minister Jonas Gahr Støre of the Labour Party.

    The decision led to a sharp market reaction, with shares of Green Minerals, a Norwegian seabed mining startup, plummeting 40% to €0.32 on Monday. Despite the setback, the company expects to begin ore extraction by the late 2020s.

    Norway made headlines in January by becoming the first country to open its waters to commercial deep-sea mining, approving exploration across 280,000 square km of Arctic seabed. However, environmentalists, including the World Wildlife Fund (WWF), celebrated the pause as a victory, arguing that Norway failed to adequately study the ecological consequences.

    While proponents of deep-sea mining highlight its potential to secure essential rare earth minerals like nickel, manganese, and copper for the green energy transition, critics warn of the unexplored risks to fragile marine ecosystems. The International Energy Agency (IEA) projects that demand for these metals will rise sharply by 2040, driven by clean energy technologies.

    Globally, the International Seabed Authority (ISA) has issued 32 contracts for seabed exploration, including projects by Canada’s The Metals Company (TMC), which plans to mine the Pacific Ocean’s Clarion-Clipperton Zone by 2025. Incoming ISA leader Leticia Carvalho, the first scientist and woman to head the body, has cautioned that more time is needed to establish robust protections for deep-sea ecosystems.