MINEX Forum

Tag: rare earths

  • Euromines Event Highlights Europe’s Urgent Raw Material and Defense Challenges

    Euromines Event Highlights Europe’s Urgent Raw Material and Defense Challenges

    On April 9, 2025, Euromines hosted a high-level conference in Brussels titled “Geopolitics at Play: The War Below for Europe’s Defense”, bringing together leading policymakers and industry experts to tackle the continent’s growing vulnerabilities in defense, energy security, and raw material supply chains.

    Amid escalating geopolitical tensions and fragile global supply networks, the event addressed how Europe can secure its industrial and strategic autonomy in an increasingly volatile world.

    Six Key Takeaways from the Event:

    1. Securing Critical Raw Materials for Defense
      The EU’s dependence on imports for rare earths, lithium, and titanium poses a serious threat to defense readiness. The Critical Raw Materials Act is a step towards ensuring the EU can access these materials independently and sustainably.

    2. Europe’s Defense Strategy: Readiness 2030
      As part of broader defense initiatives like “Readiness 2030” and “Rearm Europe”, the EU is addressing capability gaps while reinforcing material support to Ukraine and ensuring a sustainable supply of key defense-related inputs.

    3. Strategic Stockpiling and Policy Gaps
      The need for raw material stockpiling during crises was emphasized. However, funding mechanisms and legal frameworks to implement this effectively remain unclear, signaling a critical policy gap.

    4. Energy Security Amid Geopolitical Risk
      With the continued energy standoff involving Russia, Europe must diversify its supply chains and reduce dependence on China and other dominant suppliers by deepening international cooperation.

    5. Global Partnerships and Supply Chain Resilience
      Collaborations with resource-rich nations, including South Africa, and multilateral efforts like the Mineral Security Partnership are seen as pivotal for securing raw material flows and attracting private investment into the sector.

    6. Transatlantic Cooperation Is Key
      A united Europe-North America front remains vital in navigating current and future security challenges. Strengthened transatlantic ties are viewed as a foundation for Europe’s long-term defense and industrial resilience.

    The event underscored that securing Europe’s raw materials is no longer just an economic issue—it’s a matter of defense and strategic survival.

  • Kazakhstan to Auction 50 Mineral Deposits Including Gold, Copper, and Rare Earth Metals

    Kazakhstan to Auction 50 Mineral Deposits Including Gold, Copper, and Rare Earth Metals

    Kazakhstan is set to hold a large-scale electronic auction in June 2025, offering 50 solid mineral deposits, including gold, copper, coal, polymetals, and rare earth elements, according to Almas Kushumov, Director of the Subsoil Use Department at the Ministry of Industry and Construction. He made the announcement during the MINEX Kazakhstan forum.

    The rights will be granted for both exploration and extraction, with deposits containing balance reserves to be auctioned directly for mining. The full list of deposits is expected to be published in the coming days.

    Kushumov noted that 117 deposits were auctioned via e-auctions in 2023–2024, bringing in over 20 billion tenge in signing bonuses for the state. In 2024, 43 new deposits were officially registered, including 22 solid mineral sites. Resource growth figures include:

    • 20 tons of gold

    • 9,000 tons of silver

    • 48,000 tons of copper

    Kazakhstan’s current reserve lifespan is estimated at 33 years for gold and 44 years for copper, based on current production levels.

    Minister of Industry and Construction Kanat Sharlapayev previously stated that companies from the United States, the European Union, and China would be able to participate in the auctions for rare and rare earth metal rights. He emphasized that competition among major players in the global critical materials market—used in dual-use goods, renewable energy tech, electric vehicles, and more—could help maximize Kazakhstan’s revenues.

    Quote:

    “This will be a high-interest auction. The competition between Western countries and China in the rare earth sector gives us the opportunity to attract the best offers,” Sharlapayev said.

  • Kazakhstan Launches New Era of Resource Development at 15th MINEX Forum

    Kazakhstan Launches New Era of Resource Development at 15th MINEX Forum

    Date: April 9, 2025

    The 15th MINEX Kazakhstan Mining and Geological Forum is underway today in Astana under the theme: “A New Era of Kazakhstan’s Mineral Resource Development: From Exploration to Processing.”

    The event brings together around 100 speakers, 450 delegates, and 40 exhibitors from across Central Asia, Europe, North America, Africa, the Middle East, Australia, China, India, Malaysia, and Singapore.

    In her keynote address, Zhannat Dubirova, Vice Minister of Industry and Construction, highlighted recent digitalization milestones achieved in the country’s resource sectors:

    “Since the beginning of this year, we have launched the Unified Subsoil Use Platform, which now provides 22 digitized public services. So far, it has processed 506 applications. Investors can now apply directly through the portal to participate in auctions. In January, this led to $40 million in investments across 21 sites.”

    She also announced that manual oversight of more than 3,000 licenses and contracts related to solid mineral resources had been fully digitized.

    Almas Kushumov, Director of the Subsoil Use Department at the ministry, presented the results of state-led geological surveys:

    “There is growing business interest in resource development. Over the last two years, 117 subsoil plots and deposits were auctioned electronically, generating more than 29 billion tenge in subscription bonuses. In June 2025, we plan to auction 50 gold, silver, coal, and rare metal deposits.”

    The forum is also addressing pressing issues such as Kazakhstan’s role in global critical mineral supply chains, investment climate improvements, uranium sector development, and nuclear energy expansion.

    The event will conclude with a session on talent development and national capacity building, followed by a gala awards ceremony honoring achievements in the mining sector, hosted by the Mining Chamber of Kazakhstan.

    Kazakhstan’s mineral sector is undergoing a significant transformation, driven by government initiatives aimed at boosting economic growth, industrial diversification, and expanding geological exploration.

  • 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.

  • Ukraine’s Rare Earths: A Strategic Contest Between the US and the EU

    Ukraine’s Rare Earths: A Strategic Contest Between the US and the EU

    As Ukraine grapples with the ongoing conflict with Russia, its vast mineral resources have become a focal point in the global geopolitical landscape. The U.S. and the European Union (EU) are both eyeing these valuable reserves, especially Ukraine’s rare earths, which could play a pivotal role in strengthening their strategic autonomy and reducing dependence on foreign powers such as China.

    The Trump administration in the United States has proposed a deal to Ukraine: in exchange for continued U.S. military support against Russia’s aggression, the U.S. would secure a significant portion of Ukraine’s rare earth reserves, estimated at $500 billion. Ukraine, a candidate for EU membership, is also at the center of European strategic plans, with a 2021 agreement aimed at better integrating critical raw materials into EU supply chains. The growing competition for these minerals highlights the EU’s concerns over its current reliance on China, which supplies 98% of the rare earths imported by the union.

    A Growing Geopolitical Challenge

    In a February 2025 interview, U.S. President Donald Trump outlined his vision for securing $500 billion in Ukrainian rare earths as compensation for ongoing U.S. military assistance. Just days earlier, Ukrainian President Volodymyr Zelenskyy expressed his willingness to negotiate mineral deals with the U.S. as part of a “victory plan” against Russia, which included critical minerals. The Ukrainian government also revealed that it was negotiating deals with several Western allies, including Britain, France, and Italy, to exploit Ukraine’s critical materials.

    However, the situation is complicated by Russia’s occupation of significant portions of Ukrainian territory. According to Ukrainian officials, 20% of the country’s minerals and half of its rare earth deposits are under Russian control, while Soviet-era mineral surveys are outdated and fail to account for the economic viability of mining.

    US-Ukraine Talks: A Stalled Deal

    Efforts to formalize a deal between Ukraine and the U.S. on rare earths hit a snag at the Munich Security Conference in February 2025, when Zelenskyy rejected a proposal to hand over 50% of Ukraine’s rare earth reserves in exchange for military support. While the Ukrainian president agreed to continue talks with the U.S., he emphasized the need for more comprehensive security guarantees. Former Ukrainian Foreign Minister Dmytro Kuleba also stated that the U.S. had no legal claim to Ukraine’s minerals, which were part of a broader strategic partnership with the EU signed in 2021.

    Tensions escalated further when Zelenskyy and Trump met at the White House on February 28, 2025. A public argument ensued, and Zelenskyy was reportedly asked to leave, signaling a breakdown in negotiations. By mid-March 2025, the White House announced it had abandoned the idea of a minerals deal, shifting its focus to long-term peace initiatives instead.

    The EU’s Strategic Interest in Ukrainian Rare Earths

    The EU, for its part, sees Ukraine’s mineral wealth as a critical element in its efforts to reduce dependency on China. The EU’s Critical Raw Materials Act, adopted after Russia’s invasion of Ukraine, aims to address the vulnerabilities exposed by the conflict, particularly in sectors like electric vehicles and renewable energy, where raw materials like nickel and lithium saw significant price increases.

    Ukraine holds some of Europe’s largest reserves of essential minerals, including lithium, graphite, titanium, and rare earths such as beryllium, gallium, and uranium. These materials are critical for the EU’s green transition and technological advancement. Ukraine’s minerals could potentially help diversify the EU’s supply chains and bolster its self-sufficiency in critical raw materials, reducing reliance on authoritarian regimes.

    In 2021, the EU and Ukraine signed a strategic partnership to foster greater cooperation on raw materials, with a focus on integrating Ukraine’s mining sector into Europe’s battery value chains. However, the Ukrainian mining sector remains underdeveloped, and significant investment is required to unlock its potential. The EU is also concerned with Ukraine’s need to align its mining regulations with European standards as part of its ongoing enlargement negotiations.

    Ukraine’s Growing Role in Global Mineral Supply

    Ukraine ranks among the top 10 global suppliers of mineral resources, with its mining sector contributing approximately 10% to the country’s GDP and 33% of exports before the war. Mining income has more than doubled since the conflict began, highlighting the sector’s strategic importance. Ukraine also benefits from a skilled workforce, relatively low labor costs, and well-developed infrastructure, making it an attractive destination for mining investments.

    Experts suggest that the development of Ukraine’s mining sector, backed by either U.S. or EU support, could play a crucial role in strengthening Ukraine’s economy and defense capabilities while also contributing to Western self-sufficiency and economic security. The prospect of accessing Ukrainian resources could help democratic countries reduce their dependence on non-democratic regimes, particularly in the energy and technology sectors.

    The Road Ahead: US vs. EU Influence

    As the global competition for Ukraine’s rare earths intensifies, both the U.S. and the EU have stakes in shaping the future of Ukraine’s mining sector. While Ukraine remains a candidate for EU membership, the question remains: which power stands to benefit the most from these valuable resources? Much will depend on how Ukraine navigates its relationships with both powers, as well as the investment strategies and regulatory frameworks that will shape its mineral sector in the years to come.

    The geopolitical competition over Ukraine’s rare earths underscores the growing importance of critical raw materials in global power dynamics. As Ukraine continues to recover from the war, its vast mineral reserves could become a key asset for the EU’s quest for strategic autonomy and greater independence from external sources.

  • U.S. Shifts Strategy to Secure Critical Minerals, Following China’s Playbook

    U.S. Shifts Strategy to Secure Critical Minerals, Following China’s Playbook

    For decades, while China strategically secured minerals worldwide, the United States rarely used foreign policy to obtain the resources it needed. However, under President Donald Trump, this approach has shifted dramatically. Within the first 40 days of his term, Trump expressed interest in acquiring Greenland for its rare earths, annexing Canada for its uranium and copper reserves, and securing control over Ukraine’s rare earths and titanium in exchange for continued U.S. support.

    The fate of the Ukraine minerals deal remains uncertain following a heated exchange between Trump and Ukrainian President Volodymyr Zelensky. While Zelensky insists he is ready to sign the agreement, Trump has expressed doubts about its viability. Regardless of the outcome, experts argue that integrating mineral diplomacy into U.S. foreign policy is essential for national security. However, without significant government investment and diplomatic efforts—mirroring China’s approach—this initiative may fall short.

    The U.S. holds less than 2% of global reserves for rare earths, graphite, cobalt, and nickel, making collaboration with resource-rich nations critical. In contrast, China has strategically positioned itself as a global leader in mineral processing, importing vast quantities of raw materials to dominate industries like electric vehicle manufacturing.

    The draft agreement with Ukraine proposes a joint fund to manage revenue from Ukraine’s natural resources. However, the lack of modern geological data on Ukraine’s mineral deposits raises questions about the economic viability of these resources. Developing a mine and separation plant could cost between 500millionand1 billion, a risky investment without up-to-date surveys.

    To succeed, the U.S. must increase funding for geological mapping, invest in infrastructure in mineral-rich regions, and provide financial support to mitigate risks for private mining companies. Without these steps, the U.S. risks falling further behind China in the global race for mineral security.

  • Mkango Resources Signs Revised Land Lease for Polish Rare Earths Plant

    Mkango Resources Signs Revised Land Lease for Polish Rare Earths Plant

    Mkango Resources Ltd has announced that its wholly owned subsidiary, Mkango Polska Sp. Z.o.o, has signed a revised exclusive land lease agreement with Grupa Azoty Pulawy for the development of a strategic rare earths separation plant in Poland. This agreement builds on their collaboration that began in 2021.

    The agreement covers an 8-hectare site adjacent to Grupa Azoty Pulawy’s fertilizer and chemicals complex in Pulawy, Poland. The location offers strong infrastructure, access to essential reagents and utilities, and significant expansion potential. Situated within a Polish Special Economic Zone, the site ensures direct access to European and global markets.

    The planned rare earths separation plant aims to enhance Europe’s supply chain security for critical materials used in electric vehicles, wind turbines, and green technologies. The project aligns with EU regulations on critical raw materials, supporting sustainable and diversified supply chains.

    Alexander Lemon, President of Mkango, expressed enthusiasm about the deal, emphasizing its role in facilitating the plant’s expansion and development. He highlighted Mkango’s strong partnership with Grupa Azoty and the upcoming definitive feasibility study leading to construction.

    Hubert Kamola, Vice-President of Grupa Azoty S.A, described the project as innovative, bringing job creation, technology transfer, and supply chain development for Europe and North America. He noted the synergies between both companies, including land availability, utilities, and chemical expertise.

    Mkango Resources continues its strategic expansion in the rare earths sector, leveraging its ownership in Maginito Limited to become a leader in rare earth magnet recycling and sustainable materials production. The company also holds an extensive exploration portfolio in Malawi and is progressing with the Songwe Hill rare earths project. Additionally, Mkango is pursuing a NASDAQ listing through a SPAC merger with Crown PropTech Acquisitions.

  • Ukraine’s Rare Earth “Deal” with the US: More Political Theater than Economic Reality

    Ukraine’s Rare Earth “Deal” with the US: More Political Theater than Economic Reality

    As US Treasury Secretary Scott Bessent toured Ukraine this week, President Volodymyr Zelenskyy put forward a proposal for potential rare earth mining deals—reminiscent of the legendary “Potemkin villages.” This maneuver appears designed to court former President Donald Trump, who has suggested Ukraine’s rare earths could secure continued US military support.

    While a formal agreement may be announced during the Munich security conference, the reality of such a deal is tenuous at best. Ukraine does not currently produce rare earths, has no proven reserves, and is unlikely to become a significant player in the global market. Developing a rare earth mine would require either massive US funding or tax incentives, with little financial return.

    The numbers further undermine the proposal. The US annually imports just $200 million worth of rare earths, while Trump has speculated about securing $500 billion worth. Even the only major non-Chinese rare earth producer, Lynas, posted revenues of just $293 million last year.

    Moreover, despite their strategic-sounding name, rare earths are largely used in mundane manufacturing applications—fridge magnets and lighter flints account for more consumption than defense-related uses like missiles and lasers. The US’s relatively small manufacturing sector cannot absorb a significant share of global supply, even with optimistic projections.

    Some commentators have suggested the US may actually be eyeing Ukraine’s lithium or mineral sands. However, Ukraine’s lithium resources are modest at best, dwarfed by US reserves. Similarly, its ilmenite reserves are just 1% of the global total.

    Ultimately, while a rare earth agreement may bolster political ties and diplomatic optics, it is unlikely to reshape global minerals markets or offer tangible benefits for either side. The true advantage seems to lie in the political theater rather than economic substance.

  • US Treasury Secretary to Visit Ukraine Amid Resource and Security Discussions

    US Treasury Secretary to Visit Ukraine Amid Resource and Security Discussions

    US Treasury Secretary Scott Bessent will travel to Ukraine this week, marking the first cabinet-level visit from former President Donald Trump’s administration to the war-torn country. The visit aims to negotiate US access to Ukraine’s rare earth minerals, energy resources, and key state-owned enterprises as part of a broader effort to end the Russia-Ukraine war and strengthen American resource security.

    According to an anonymous source, discussions will cover the possibility of a resource-sharing pact, under which the US would gain access to Ukrainian rare earths in exchange for ongoing support against Russian aggression. Trump and Ukrainian President Volodymyr Zelenskiy have expressed mutual interest in such an arrangement.

    US National Security Adviser Mike Waltz further emphasized on Sunday that the US aims to recoup its war-related expenditures by partnering with Ukraine on energy and natural resource projects, including oil and gas.

    A high-profile US delegation, including Secretary of State Marco Rubio, Vice President JD Vance, Defense Secretary Pete Hegseth, and Special Envoy for Ukraine Keith Kellogg, will also hold talks with European allies and Ukrainian officials this week.

    The Trump administration is reportedly pressuring European nations to purchase more American weapons for Ukraine, a move aimed at strengthening Kyiv’s defenses ahead of potential peace negotiations with Moscow.

  • Ukraine Open to Rare Earth Mining Collaboration: President Zelensky

    Ukraine Open to Rare Earth Mining Collaboration: President Zelensky

    President Volodymyr Zelensky stated that Ukraine is open to mining rare earths in partnership with allies, during a press briefing. This follows comments by U.S. President Donald Trump about Washington’s interest in Ukrainian rare earths in exchange for aid.

    Zelensky emphasised the importance of developing mineral resources with partners who support Ukraine militarily and economically. He noted that this collaboration is crucial to push back against Russian influence and prevent other adversarial nations, such as Iran or North Korea, from gaining control of these resources.

    Ukraine is home to 20 critical minerals and metals essential for industries like aerospace and electric vehicle manufacturing, including titanium and lithium. With the global shift towards renewable energy, demand for rare earth elements, such as cerium, yttrium, lanthanum, and neodymium, has surged.

    Trump’s interest in Ukraine’s minerals is likely driven by China’s current dominance in the rare earth market. Zelensky’s comments also reflect concerns about the future of U.S. aid under President Trump, who has criticised previous administrations’ support for Kyiv.

    The U.S. remains the largest supporter of Ukraine’s defence, providing over $91 billion in aid since 2022.

    As the global demand for rare earth minerals continues to rise, Ukraine’s mineral resources are likely to play an increasingly central role in geopolitics, making partnerships like the one suggested by Zelensky a key part of the country’s strategic future.