MINEX Forum

Website: Eurasia.com

  • Czech Republic Sets Date for Complete Coal Phase-Out and Transition to Nuclear Power

    Czech Republic Sets Date for Complete Coal Phase-Out and Transition to Nuclear Power

    The Czech Republic has announced plans to completely phase out the use of coal by 2033, as part of its updated national energy plan submitted to the European Commission. By 2040, nuclear power is expected to account for 68% of the country’s electricity generation.

    According to the plan, nuclear power will constitute 44% of the electricity generation mix by 2030, with this figure set to increase to 68% following the commissioning of new reactors. Nuclear energy will form the cornerstone of the country’s energy balance.

    In addition to nuclear power, the Czech Republic will also actively develop renewable energy sources. Natural gas will serve as a transitional energy source to ensure stability in the energy system, complementing the more variable output from renewable sources due to its reliability and efficiency.

    This energy strategy aligns with global targets to reduce carbon emissions and decrease dependence on fossil fuels. Similarly, Ukraine is also pursuing a transition to carbon-free energy, with a focus on nuclear generation as part of its strategy up to 2050.

  • Ukraine Needs Security Guarantees to Attract Investment in Industry and Mining

    Ukraine Needs Security Guarantees to Attract Investment in Industry and Mining

    To attract investments in industrial production and the lithium and uranium deposits, Ukraine requires security guarantees, says the CEO of Metinvest.

    2025 must become the year of economic recovery, stated Metinvest’s General Director, Yuriy Ryzhenkov.

    For investments in industrial production and mineral resources, security guarantees are needed to attract international investments in key industries. This will provide the country with new jobs and technological opportunities, according to Yuriy Ryzhenkov, the CEO of Metinvest.

    He emphasised that building a people-centric business, where employee and community well-being take precedence over financial success, is crucial for Ukraine’s recovery.

    “We already have over 1,000 veterans and are ready to train anyone interested in jointly building an economically stable and peaceful Ukraine. Victory efforts are being made by workers maintaining production, mobilized soldiers in the armed forces, and even women, some as young as 19, working in mines,” said Ryzhenkov.

    Since the start of the full-scale invasion, Metinvest has directed 8 billion UAH to aid Ukraine and its citizens, according to the company’s website. Of this, 4.4 billion UAH has been allocated for military needs under the “Steel Front” initiative.

  • Dundee Precious Metals Hits 2024 Production Targets in Bulgaria

    Dundee Precious Metals Hits 2024 Production Targets in Bulgaria

    Dundee Precious Metals (DPM), a Canada-based mining company, announced that its Bulgarian mines—Ada Tepe and Chelopech—have met their production guidance for 2024, based on preliminary results.

    DPM’s president and CEO, David Rae, expressed satisfaction with the performance, stating that the company ended 2024 on a high note, with Ada Tepe achieving its highest quarterly production of the year, and Chelopech maintaining its strong operational track record.

    The Ada Tepe mine produced approximately 94,300 ounces of gold in 2024, including 29,000 ounces in the fourth quarter, when mining operations returned to budgeted levels and met expectations.

    Meanwhile, the Chelopech mine produced about 167,000 ounces of gold and 29.7 million pounds of copper. In the final quarter, Chelopech yielded 41,900 ounces of gold and 7.8 million pounds of copper.

    The company had projected total gold production from both mines to fall between 245,000 and 285,000 ounces, with copper production expected to range from 29 to 34 million pounds.

  • Anglo American Leads Hydrogen Fuel Cell Electric Vehicle Revolution Across Europe

    Anglo American Leads Hydrogen Fuel Cell Electric Vehicle Revolution Across Europe

    Anglo American, the South Africa-linked mining giant, is spearheading the introduction of platinum-catalysed hydrogen fuel cell electric vehicles (FCEVs) in Europe, offering new mobility options across major cities.

    The London- and Johannesburg-listed corporation is partnering with FCEV taxi operator Hype under the banner of H2 Moves Europe to bring these eco-friendly vehicles to the continent.

    Since launching in Berlin in 2022, the initiative has expanded to Paris and Brussels, with Hamburg reportedly the next stop. H2 Moves Europe has already achieved over eight million zero-emission kilometres across nearly 650,000 passenger journeys.

    Key partners include Toyota Deutschland and SafeDriver-ennoo in Berlin, while Paris boasts a 250-strong hydrogen-powered FCEV taxi fleet, featuring models like the Toyota Mirai, Hyundai Nexo, Peugeot e-Expert, and Citroën ë-Jumpy vans adapted for wheelchair access. Brussels follows a similar pattern, with a fleet of 50 FCEVs.

    In each case, platinum group metals (PGMs) from South Africa play a crucial role, working alongside emission-free green hydrogen, which Hasan Akbulut, an academic expert, highlights on LinkedIn for its high energy content and its significance across various industries, including the chemicals sector.

    Moreover, the New York Times reports that the Biden administration has finalised new rules offering substantial tax credits to companies producing hydrogen—an element efficiently produced using PGM-catalysed proton exchange membrane (PEM) electrolysers and converted back into green electricity through PEM fuel cells.

    Zero-emission PEM fuel cells are gaining traction in various sectors, from buses and commercial trucks to trains, ships, and power stations, providing clean energy solutions for both mobile and stationary needs.

    Notably, Ballard Power Systems has secured contracts to supply fuel cell engines for zero-emission trains and city buses, validating the advantages of fuel cells as a sustainable transport alternative.

    As hydrogen’s industrial applications grow, Bosch Hydrogen Energy reports a transition to large-scale PEM electrolysis systems with capacities in the hundreds of megawatts, positioning hydrogen as a major player in future energy production.

    The global hydrogen movement is gaining momentum, with major cities and industries investing in projects to produce, store, and utilise hydrogen for greener energy solutions. From China to Europe and the US, hydrogen continues to emerge as a pivotal technology for decarbonising industries across the world.

  • Kumtor: Securing Kyrgyzstan’s Mining Future

    Kumtor: Securing Kyrgyzstan’s Mining Future

    “Despite recent challenges, the Kumtor mine continues to generate profit, and the gold reserves in the tailings and other deposits are sufficient for the further development of Kyrgyzstan’s mining industry.” This is the opinion of Duishenbek Kamchybekov, Chairman of the Board of the Association of Miners and Geologists, and Doctor of Technical Sciences.

    According to him, the difficulties arose in 2021 due to a crack in block 20.

    “This was indeed a critical moment for the country’s mining industry. If the block had ceased operating, the consequences could have been severe, as gold production in the republic depends on the functioning of this deposit. Previously, 93-97 per cent of Kyrgyz citizens worked in the mining industry, and many of these professionals still work in this field. The mine employees noticed the problem with the crack, took the correct measures, and work continued. This allowed the plan to be fulfilled and production to be maintained,” the expert explained.

    He stated that Kumtor remains the most important project in Kyrgyzstan’s mining industry. At the start of the project in 1994, it was stated that the Kumtor deposit contained 716 tonnes of gold. Before the departure of the Canadian company Centerra Gold, it had extracted about 400 tonnes of gold, with revenues of approximately $14 billion, of which about 30 per cent was allocated to expenses, wages, and social payments. As of 1 October 2024, a further 72 tonnes of gold have been mined, and the net profit amounted to $174 million.

    “Despite initial problems, the project continues to generate significant profit and benefit the country’s economy. We can be proud that the gold mined at Kumtor remains in the Kyrgyz Republic. It is important to note that this project continues to develop and bring benefits to the republic. We are seeing an increase in production volumes and profits, which has a positive impact on the economy,” said Duishenbek Kamchybekov.

    For example, as of 1 October this year, 9.5 tonnes of gold have been mined at Kumtor. According to the expert’s forecast, this year’s plan will be fulfilled.

    Calculations show that, in addition to current expenditures, Kumtor has sufficient gold reserves for open-pit mining until 2028-2029. However, further development requires additional research. Duishenbek Kamchybekov emphasises that there are approximately 115 tonnes of gold reserves underground. The company has already obtained a licence to mine them.

    The Head of the Association also spoke about the tailings. He noted that Kumtor’s tailings undoubtedly have the potential for gold extraction, which could significantly impact the country’s economy.

    “Today, the tailings contain about 118 tonnes of gold. Canadian specialists have carried out work, and tenders have been organised for the processing of waste, which has yielded results. However, the process of extracting gold from tailings is a complex task, as gold and cyanide remain in the ore, which are difficult to extract. Today, there are various approaches, including the use of bacteria for processing, but this requires high energy consumption and sophisticated equipment. Perhaps, in the future, a more efficient technology will be developed, which will allow work to continue in this direction,” concluded Duishenbek Kamchybekov.

  • Auction for 26 Mineral Deposits in Kazakhstan

    Auction for 26 Mineral Deposits in Kazakhstan

    Online auctions for 26 mineral deposits will take place on January 29, 2025, on the e-qazyna.kz platform in Kazakhstan. Interested investors can bid on 26 mineral deposits, including 10 deposits of precious metals, 2 polymetallic deposits, 2 gemstone deposits, and several coal and black metal ore deposits.

    The Ministry of Industry and Infrastructure Development of Kazakhstan has announced a list of available plots for obtaining mining licenses. The starting bid for most deposits is 1,846 million tenge, with the exception of the Burabay-Zhalgyzagash polymetallic deposit in Kyzylorda region, which has a minimum starting bid of 30,362 million tenge.

    Some of the notable mineral deposits up for auction include:

    • Aktubinskaya Severnaya (4.19 km2) and Dalabaevskoye (3.82 km2) deposits of precious metals in Aktubinskaya and Zhetysu regions, respectively.
    • Aulie-Yuzhnopriishminskaya (2.51 km2) deposit of precious metals in the North-Kazakhstan region.
    • Burabay-Zhalgyzagash and Kysyl-Espe polymetallic deposits.
    • Priozernoye and Kaynar gemstone deposits.
    • Kuletskoye deposit of mica schists, Ushbulak asbestos deposit, and Aurtash deposit of celestine and barite-celestine ores.
    • Kendyrlykskoye, Bogembaevskoye, and Taldykul coal deposits, as well as the 1st Dubovskaya field.
    • East Karazhal, West Kamys, and Yesimzhal manganese ore deposits, and Masalskoye iron ore deposit, which also contains titanium.

    To participate in the auction, interested parties must register on the e-qazyna.kz platform by 15 January .

  • Cameco Suspends Uranium Production at Kazakhstan’s Inkai JV Due to Bureaucratic Holdup

    Cameco Suspends Uranium Production at Kazakhstan’s Inkai JV Due to Bureaucratic Holdup

    Uranium production at the Inkai joint venture (JV) in Kazakhstan, a project involving Cameco and Kazatomprom, has been suspended due to a bureaucratic holdup. Here are the key points:

    Bureaucratic Holdup

    The suspension is a result of a delayed submission of project paperwork to Kazakhstan’s energy ministry, which has not granted the necessary extension for the submission.

    Ownership and Impact

    Cameco holds a 40% stake in the Inkai JV, while Kazatomprom, the state-owned uranium producer, holds 60%. The Inkai JV is a significant contributor to Kazakhstan’s uranium production, accounting for approximately 14% of the country’s total uranium output and 16% of Cameco’s production.

    Production and Market Implications

    The suspension adds uncertainty to Kazakhstan’s near-term uranium production plans. However, Kazatomprom does not expect this to significantly impact its overall 2024 production forecast of 22,500 to 23,500 tonnes of uranium (tU).

    Market Analysts’ Views

    Analysts from BMO Capital Markets and Raymond James note that the paperwork approvals are expected to be resolved shortly, but the timeline for the approvals process and the resumption of operations is unclear. This could potentially lead to an increase in the spot uranium price if Cameco and Kazatomprom need to purchase additional supplies to meet their sales commitments.

    Current Market Conditions

    As of 31 December 2024, the uranium spot price was $73 per pound, down from its 17-year high of $100.25 a year ago. The timing of deliveries from the Inkai JV, which uses the TransCaspian International Transport Route, can also impact the timing and amount of dividends Cameco receives from the JV.

    Kazatomprom’s Overall Production Plans

    Despite the Inkai JV suspension, Kazatomprom has recently adjusted its 2025 production plans due to other challenges, including delays in construction and uncertainties in sulfuric acid supplies. The company now expects 2025 production to be between 25,000 and 26,500 tU, down from the initial plan of 30,500-31,500 tU.

  • Tajikistan Seeks $100 Million Investment to Revive Lead-Silver Mining Complex

    Tajikistan Seeks $100 Million Investment to Revive Lead-Silver Mining Complex

    Tajikistan is seeking a $100 million investment to modernise the Adrasman mining and processing plant.

    The plant’s raw material base consists of the Eastern and Western Konimansur deposits.

    The project’s first phase involves modernising the production facilities, while the second phase aims to increase capacity, construct a beneficiation plant, and build a metallurgical plant.

    The project’s phased approach to revitalising the plant includes the following stages:

    • Year 1: Repair and restoration work on mining sites and the beneficiation plant, procurement of essential equipment (mining machinery, transport vehicles, etc.), with the extraction and processing of 300,000 tonnes of ore and production of 6,000 tonnes of concentrate.
    • Year 2: Preparatory mining works for the next block. Extraction and processing of 500,000 tonnes of ore and production of 10,000 tonnes of concentrate.
    • Years 3-5: Extraction and processing of 1 million tonnes of ore per year, producing 20,000 tonnes of concentrate annually.
    • Year 6: Scaling up extraction and processing to 2 million tonnes per year, with a concentrate output of 40,000 tonnes.

    At the end of the project, the plant plans to produce up to 40,000 tonnes of concentrate annually.

    The concentrate produced by the plant will contain the following primary components:

    • Lead: 31-36%
    • Silver: 2,200-3,300 grams per tonne of ore, depending on ore quality and enrichment technology.

    To increase the company’s capacity, it is necessary to upgrade mine No. 12, which is in need of reconstruction, said company head Sobirjon Mamadjonov to Sputnik Tajikistan.

    The project has been developed by one of Uzbekistan’s geological institutes. According to the business plan, for the revival, upgrade, and expansion of mining capacities, production must increase to 1 million tonnes per year or more, as otherwise, the operation will not be profitable.

    Previously, the Russian company “Formula Svet” expressed interest in the launch of the Adrasman plant in Guliston.

    History of the Plant:

    The development of the Adrasman deposit was first discussed in 1944, when the USSR NKVD, under the direction of the Soviet government, began exploring uranium deposits in Central Asia, including in Adrasman.

    In addition to uranium, the Soviet government planned to extract bismuth and its concentrates at this site. Large reserves of lead and silver were later discovered.

    In 1970, based on the Karamazar mine, the Adrasman mining and beneficiation plant was established, specialising in the extraction and processing of lead-silver ores to produce lead concentrate. The plant’s capacity was over 650,000 tonnes of ore per year.

    In mid-2006, the Kazakh company “Kazinvest-Mineral” acquired 100% of Adrasman’s shares. In 2007, over 200,000 tonnes of lead-zinc concentrate were extracted and processed here.

    However, in July 2013, the Adrasman plant ceased production due to a decline in global silver prices, making the extraction and processing of this metal unprofitable.

    Since 2013, the plant has been inactive and declared bankrupt.

    In 2017, by decision of the Dushanbe Economic Court, Adrasman became the property of the Tajik government, which explained the move by stating that the Kazakh owners had failed to take measures to revitalise the enterprise.

  • Shubarkol Komir Coke Plant Hits Target Capacity

    Shubarkol Komir Coke Plant Hits Target Capacity

    The special coke plant at Shubarkol Komir, a subsidiary of Eurasian Resources Group (ERG), has concluded the year with record-breaking performance. The plant has reached its full production capacity, producing 478,000 tonnes, significantly exceeding the planned targets.

    The special coke produced at the plant will substantially reduce Kazakhstan’s dependence on imported reducing agents and increase the local content in the ferrochrome produced by ERG.

    This success highlights the importance of implementing innovative technologies and developing the production base to strengthen Kazakhstan’s position in the global market. The special coke plant not only enhances the company’s industrial potential but also makes a significant contribution to the country’s economy by creating new jobs and reducing external economic risks.

    The successful launch and achievement of full production capacity mark another step towards diversifying Kazakhstan’s economy and realizing ambitious goals in carbon resource processing.

    — “Diversification projects play a crucial role in our development. Processed products such as oil, activated carbon, technical carbon, methanol, and carbonates are in high demand. In the future, we plan to expand this product line. We aim for a complete cycle of coal processing: from coal to coke, from coke to gas, and from gas to electricity. The gas can be used to produce methanol, and the coke can be processed into activated carbon, which is then used as a sorbent. This is a step towards zero-waste production,” noted the general director of the enterprise.

    Shubarkol Komir is one of the largest producers of energy coal and special coke in Kazakhstan, playing a key role in the domestic industry by combining significant production volumes with unique quality characteristics.

    In 2023, a special coke plant was built on the company’s premises, with investments totaling 60 billion tenge. Currently, the plant employs over 180 staff members and is equipped with modern technological solutions and automated control systems.

    By August 2024, the new plant had reached its full production capacity, achieving record figures in some months compared to the project plans. Including the commissioning and adjustment works, the coke production volumes for 2024 amounted to 268,900 tonnes, exceeding the planned targets.

    Shubarkol Komir is actively implementing innovative processes based on coal chemistry, producing special coke, activated carbon, coal tar, and coal oil, as well as liquid humic fertilizers. In addition to the main products, the plant plans to produce coal tar and coal oil at a volume of 72,000 tonnes per year, using coal from the Shubarkol mine as raw material.

  • Environmental Audit for Kazzinc Amid Record Smog in Ust-Kamenogorsk

    Environmental Audit for Kazzinc Amid Record Smog in Ust-Kamenogorsk

    The General Prosecutor’s Office will audit Kazzinc LLP for compliance with environmental regulations. Specialists from the Environmental Regulation and Control Committee will assist in the inspection, Prime Minister Olzhas Bektenov announced in response to a request from senators.

    According to the Prime Minister, the audit is prompted by the adverse environmental situation in Ust-Kamenogorsk observed between 23 November and 1 December 2024.

    He also reminded that the roadmap for East Kazakhstan Region and Ust-Kamenogorsk for 2024–2026 includes a number of environmental measures aimed at reducing harmful emissions in the region by 10-20%.

    The key measure is the modernisation of gas purification units at the Ust-Kamenogorsk metallurgical complex of KazZinc LLP. By 2026, the modernisation is expected to reduce sulphur dioxide emissions by 2,200 tonnes. It will also ensure the enterprise’s operations comply with the indicators of the national project “Zhasyl Kazakhstan.”

    Another important initiative is the construction of the “Hydropolimet” workshop at the Ridder metallurgical complex of KazZinc LLP. This initiative aims to reduce sulphur dioxide emissions by 714 tonnes by 2024.

    At the end of November, Ust-Kamenogorsk was covered by a dense smog. The air showed an excess concentration of pollutants. For the first time, due to poor air quality, schoolchildren were moved to remote learning for several days, and residents were advised to limit outdoor activities and use protective masks.

    Ust-Kamenogorsk faces annual issues with windless conditions and severe air pollution, but this year, according to environmentalists, the level of pollution was record-breaking.