MINEX Forum

Website: Eurasia.com

  • Romania Renews Licence for Country’s Only Graphite Deposit at Baia de Fier

    Romania Renews Licence for Country’s Only Graphite Deposit at Baia de Fier

    Romania’s government has officially renewed the exploitation licence for the nation’s sole graphite deposit, located in Baia de Fier, Gorj County. The decision, signed by Minister of Economy Radu Miruță, grants state-owned Salrom the right to resume mining operations at the site.

    Graphite, a critical raw material used in conductors, mobile phone components, and the nuclear industry, has experienced surging demand globally. Minister Miruță said the licence renewal ensures the resource “remains the property of Romania” while delivering economic value domestically.

    “Today I signed the government decision by which Romania receives the exploitation licence for graphite from Baia de Fier. An extremely valuable mineral, sought after throughout the world, remains the property of Romania and will produce value for our economy,” Miruță said, adding that securing the licence was one of his key priorities.

    Although Salrom previously held the licence, mining activity had stopped. With operations now set to restart, Miruță stressed that the first steps will involve securing the mining perimeter and preparing for production. He noted that the project will create jobs, drive local economic growth, and stand as “a source of pride for Romanians.”

    The move forms part of a broader government strategy to safeguard and develop Romania’s strategic mineral resources in the national interest.

  • Switzerland in Talks with US to Avert 39% Gold Export Tariff

    Switzerland in Talks with US to Avert 39% Gold Export Tariff

    Switzerland is pressing ahead with negotiations to reduce steep new US import duties that threaten to halt its multi-billion-dollar gold exports, the government confirmed Friday. The talks, led in Washington by Helene Budliger Artieda, head of the State Secretariat for Economic Affairs (SECO), follow the introduction of a 39% tariff on gold bars — one of the highest duties imposed under former President Donald Trump’s trade policy overhaul.

    A last-minute visit by Swiss President Karin Keller-Sutter earlier this week failed to secure relief. SECO said discussions remain “focused on reducing the additional US tariffs” but declined to provide details. Technical-level negotiations are expected to resume next week.

    The Swiss precious metals industry warned the levy could effectively end gold bar shipments to the US, which last year were worth 7.86 billion Swiss francs ($9.7 billion). Gold bars of 1 kg and 100 oz, previously exempt from tariffs, are now subject to the new duty. “With a tariff of 39%, exports of gold bars will definitely be stopped to the US,” said Christoph Wild, president of the Swiss Association of Manufacturers and Traders in Precious Metals.

    Switzerland, home to five major refineries, processes around 70% of the world’s annual gold supply, resizing bullion for global markets, including the US. Economist Hans Gersbach of ETH Zurich’s KOF Economic Institute estimates 7,500 to 15,000 Swiss jobs could be lost if the tariffs remain, with further losses possible if other sectors — such as pharmaceuticals — are targeted.

    The tariffs also hit other Swiss exports, including watches, machinery, and precision instruments, prompting some companies to consider shifting production to Europe or the UK to benefit from lower US-bound duties.

    Business association economiesuisse said firms were urgently seeking solutions, though the measures had caused confusion and frustration. “We still have difficulties understanding this friendly fire,” said board member Jan Atteslander. “Our companies are always under heavy pressure, so the only way to survive is to innovate.”

  • Aurion Resources Hits High-Grade Gold at Risti Property in Northern Finland

    Aurion Resources Hits High-Grade Gold at Risti Property in Northern Finland

    Aurion Resources (TSXV: AU) has reported a standout gold intercept from its Risti property in Finland’s Central Lapland Greenstone Belt, with drilling at the Vanha target area delivering over 32 metres grading 4.42 grams per tonne (g/t) gold.

    The result, from hole KS25111 at a depth of 267.8 metres, includes a higher-grade section of 7.95 metres grading 13.54 g/t gold from 269.8 metres. “This intercept provides meaningful insight into the potential for scale and growth of the mineral endowment at Kaaresselkä,” said CEO Matti Talikka, adding that the company remains encouraged by the deformation and alteration along Vanha’s structural corridor.

    Aurion, one of the earliest modern explorers in the Central Lapland Greenstone Belt, has played a key role in attracting major mining partners such as B2Gold, Kinross, and KoBold Metals through joint ventures.

    Other highlights from Monday’s release include hole KS25106, which intersected 4.5 metres at 1.16 g/t gold from 123.6 metres, as well as 5.2 metres at 0.88 g/t gold from 136.8 metres. The results, part of a 10-hole, 2,032-metre drilling program in the Kaaresselkä area, suggest the mineralized system extends 100 metres deeper than previously identified.

    High-grade mineralization has now been confirmed from near surface to a depth of roughly 250 metres and remains open in multiple directions. Additional drill results are pending as exploration continues.

    Aurion’s shares rose 3.8% to C$0.83 in early Toronto trading on Monday, giving the company a market capitalization of about C$124 million. Over the past year, the stock has traded between C$0.50 and C$0.90.

  • Strickland Metals Uncovers “Massive” Gold Find at Kotlovi Prospect in Serbia

    Strickland Metals Uncovers “Massive” Gold Find at Kotlovi Prospect in Serbia

    Australian mining company Strickland Metals has announced a major breakthrough at its Rogozna gold and base metals project in southern Serbia, reporting the discovery of a “massive” gold deposit at the newly identified Kotlovi prospect.

    In a statement released Wednesday, the company revealed that the first follow-up drill hole at Kotlovi delivered a 277.3-meter intercept grading 1.3 grams per tonne (g/t) gold equivalent, starting from a depth of 337.4 meters.

    “This first hole of our 2025 campaign at the new Kotlovi Prospect has been exceptional,” said Paul L’Herpiniere, Strickland’s Managing Director. “With several hundred metres of continuous mineralisation, including multiple higher-grade zones, Kotlovi is quickly becoming a key target for substantial resource growth.”

    Strickland has eight rigs currently active across the Rogozna project, with additional assay results expected in the coming weeks. The Kotlovi discovery sits just 350 metres west of the 1.28 Moz AuEq Medenovac deposit and joins three other major deposits already identified at Rogozna: the 5.30 Moz AuEq Shanac deposit, the 0.81 Moz AuEq Copper Canyon deposit, and the Gradina deposit—whose maiden resource estimate is expected by year-end.

    Covering 184 square kilometers and comprising four exploration licences, the Rogozna project holds an estimated 7.4 million ounces of gold equivalent to date, with potential to become one of the world’s largest undeveloped gold deposits. Strickland acquired full ownership of Rogozna in July 2024 through its $37 million acquisition of Betoota Holdings and its Serbian subsidiary, Zlatna Reka Resources.

    To accelerate exploration, Strickland also secured a AU$5 million investment from China’s state-owned Zijin Mining Group in April.

  • Miner Killed in Bulqiza Mine Collapse, Five Employees Arrested Over Safety Failures

    Miner Killed in Bulqiza Mine Collapse, Five Employees Arrested Over Safety Failures

    A 66-year-old miner lost his life on Wednesday following a rockfall inside a mining gallery in Bulqiza, prompting the arrest of five employees from the mining entity involved. According to the local police, the collapse occurred due to a failure to implement necessary safety measures at the site.

    The victim, identified as citizen F. Sh., was reportedly working inside the gallery when a rock mass gave way, fatally injuring him. In response, Bulqiza Police arrested five members of the technical staff—Nj. P. (46), B. Ç. (68), F. T. (61), E. K. (35), and E. Xh. (51)—on the spot for their suspected negligence.

    “Preliminary investigations indicate that these individuals failed to implement proper technical safety protocols at the mining site,” police said in an official statement. The arrested employees are facing charges of “Violation of occupational safety regulations resulting in death.”

    The case has now been referred to the Dibra Prosecutor’s Office for further legal action.

  • Rio Tinto Pushes Forward with Serbia’s Jadar Lithium Project Amid Environmental Debate

    Rio Tinto Pushes Forward with Serbia’s Jadar Lithium Project Amid Environmental Debate

    Rio Tinto is actively seeking regulatory approvals to revive its Jadar lithium project in western Serbia, a venture that could become one of the largest greenfield lithium mines globally. Speaking to SeeNews, Chad Blewitt, Managing Director of the Jadar Project, confirmed that the company is awaiting approval for a revised Environmental Impact Assessment (EIA) study and other critical permits, including an exploitation field license.

    “If we secure all necessary regulatory approvals and public consultations go smoothly, we could begin construction within the next few years,” Blewitt said. The company previously planned to start production in 2027 following the mine’s completion in 2026.

    The Serbian environmental protection ministry has yet to comment on the status of the EIA review. Once the scope is approved, Rio Tinto will have one year to complete the updated study.

    Discovered in 2004, the Jadar deposit contains jadarite, a unique lithium- and boron-rich mineral. If developed, the mine is expected to produce 58,000 tons of battery-grade lithium carbonate annually over a 40-year lifespan, potentially placing Rio Tinto among the world’s top ten lithium producers.

    However, the project has sparked significant backlash. Environmentalists, local residents, and scientists warn that mining in a fertile and densely populated valley could have catastrophic ecological consequences. Activist group Ne Damo Jadar points out that the mine’s projected footprint affects 17 villages, with five located near the planned landfill zone—home to nearly 19,500 people.

    Blewitt rejected these criticisms, calling them “reckless” and based on misinformation. “Scientific facts confirmed by independent experts show the project is safe,” he said, emphasizing that the Jadar mine has passed the most rigorous environmental studies ever conducted in Serbia.

    The European Commission recently added Jadar to its list of strategic raw materials projects outside the EU, a move Blewitt says proves the project can meet the highest environmental and human rights standards.

    Originally estimated at €2.55 billion, the project’s capital cost is now under review to incorporate new technical developments. Economic benefits touted by Rio Tinto include an estimated €695 million annual contribution to Serbia’s GDP and over €180 million in yearly state revenues from taxes and royalties. The operational phase is expected to create 1,300 permanent jobs, with additional economic ripple effects potentially generating over 20,000 new roles in associated sectors like battery and EV production.

    Blewitt, who returned to lead the Jadar project in 2023 after advancing Rio Tinto’s operations in Guinea and Mongolia, remains focused on finalizing the EIA and ensuring full regulatory compliance before breaking ground.

  • Greece Emerges as Europe’s Strategic Hub for Gallium Production

    Greece Emerges as Europe’s Strategic Hub for Gallium Production

    A new ARTE documentary has spotlighted a bauxite mine in central Greece as the European Union’s only domestic source of gallium — a critical mineral essential to the production of solar panels, LED lights, and smartphones. The project aims to bolster Europe’s strategic autonomy by reducing reliance on Chinese imports, which currently dominate the global gallium market.

    The gallium extraction initiative, tied to the historic Aluminum of Greece plant operated by Metlen, has been officially designated as a Strategic Project under the EU’s Critical Raw Materials Regulation (CRMA). Gallium is primarily derived as a by-product of alumina production from bauxite, positioning Greece at the centre of the EU’s clean energy and digital transformation plans.

    Prime Minister Kyriakos Mitsotakis highlighted the investment’s national significance, noting it is part of a wider €2.4 billion wave of projects approved across Europe. In his weekly address, Mitsotakis emphasized the role of gallium in creating a domestic value chain for semiconductor manufacturing and Europe’s broader technological independence.

    “This investment lays the groundwork for a high-tech value chain that contributes to Europe’s productive autonomy,” he stated, citing a €3.6 million state-supported plan to launch Greece’s first Semiconductor Competence Center in partnership with HETiA.

    Currently, the majority of the world’s gallium is sourced from China, with additional production in Russia, Germany, Kazakhstan, and Japan. However, Europe’s efforts to scale its domestic production include both primary mining and secondary recycling of gallium-rich electronic waste.

    Gallium-based compounds like gallium arsenide and gallium nitride are used widely in semiconductors, laser diodes, and infrared applications. With 95% of global gallium supply allocated to the semiconductor sector, Greece’s emerging role could prove pivotal in supporting the EU’s climate and digital goals.

  • Glencore Rejects US Move, Will Keep Primary Listing in London

    Glencore Rejects US Move, Will Keep Primary Listing in London

    In a rare win for the London Stock Exchange, commodities giant Glencore has confirmed it will retain its primary listing in the UK, scrapping a potential move to New York despite months of speculation.

    CEO Gary Nagle announced on Wednesday that the company had conducted an in-depth global review and determined that relocating its primary listing to the United States would not deliver added value for shareholders at this time. “Having done that thorough analysis, we will remain listed in London for the moment,” Nagle said, adding the situation would remain under review.

    The decision is a boost for London’s capital markets, which have struggled with sluggish IPO activity and a wave of departures from high-profile firms like TUI, Just Eat Takeaway, and BHP. London’s equity market has been shrinking amid concerns about undervaluation and a more favorable investor base overseas.

    Nagle also addressed recent speculation that a US move could help boost Glencore’s stock, which is down 26% over the past year. He attributed the decline largely to falling coal prices, not the listing venue. He also noted that inclusion in the S&P 500 – a key appeal for many firms considering a US move – was unlikely in Glencore’s case, diminishing the potential upside of relocating.

    While London’s financial ecosystem welcomed the news, some investors were left disappointed, with Glencore shares falling 4% following the announcement. Legal & General CEO Antonio Simoes urged the UK government to accelerate listing reforms to ensure the country remains an attractive hub for global investment.

    Meanwhile, other major firms such as Shell and Pearson remain under pressure to consider transatlantic moves, amid growing competition between financial centres.

  • Lithium Producers Urge EU to Rethink Hazard Classification, Warn of Strategic Setback

    Lithium Producers Urge EU to Rethink Hazard Classification, Warn of Strategic Setback

    A coalition of 13 lithium producers behind key Strategic Projects under the EU’s Critical Raw Materials Act (CRMA) has issued a joint letter to the European Commission, warning that the proposed classification of lithium salts as Category 1A reproductive toxins could undermine Europe’s climate and industrial ambitions.

    The group, which includes developers of some of the continent’s most advanced lithium initiatives, expressed deep concern that the move by the European Chemicals Agency (ECHA) conflicts directly with the bloc’s Green Deal, net-zero goals, and push for strategic autonomy.

    According to the letter, the reclassification would shake investor confidence, delay CRMA-aligned projects, weaken Europe’s position in the global battery value chain, and create contradictory policy signals.

    They call on the Commission to ensure that regulatory decisions remain science-based, proportionate to real risk, and do not threaten Europe’s strategic aims. The producers argue that a supportive regulatory framework is critical to delivering both the green and digital transitions.

  • Uzbek Technological Metals Plant and Germany’s LBBW Forge Strategic Financial Partnership

    Uzbek Technological Metals Plant and Germany’s LBBW Forge Strategic Financial Partnership

    In a significant step towards strengthening international industrial ties, Uzbekistan’s Technological Metals Plant (TMK) has held high-level talks with Landesbank Baden-Württemberg (LBBW), one of Germany’s leading financial institutions. The meeting focused on boosting bilateral investment cooperation, exploring advanced financial tools for large-scale industrial projects, and supporting the acquisition of cutting-edge European equipment.

    Aziz Inomkhodjaev, head of LBBW’s representative office in Uzbekistan, underscored the bank’s strong interest in forging a long-term partnership with TMK. He emphasized LBBW’s readiness to provide sustained financial support for Uzbekistan’s industrial modernization, especially in the critical minerals and high-tech manufacturing sectors.

    As a result of the discussions, both sides agreed to establish a framework for systematic collaboration, beginning with the phased rollout of priority industrial projects. The partnership with LBBW is expected to significantly enhance TMK’s ability to access European technologies and investment resources, further integrating Uzbekistan into global critical minerals supply chains.