MINEX Forum

Website: Eurasia.com

  • China Bans Antimony Exports to the U.S., Prices Soar Amid Trade Tensions

    China Bans Antimony Exports to the U.S., Prices Soar Amid Trade Tensions

    Antimony prices surged by 40% on Wednesday following China’s ban on exports of key critical minerals to the United States. The ban, announced on Tuesday, enforces restrictions on antimony, gallium, and germanium, minerals critical to military applications. The decision comes as the U.S. prepares for President-elect Donald Trump to take office next month.

    “In principle, the export of gallium, germanium, antimony, and superhard materials to the United States shall not be permitted,” stated the Chinese Commerce Ministry.

    China, the world’s largest producer of antimony, accounted for 48% of global production in 2023, with an output of 40,000 tonnes, nearly double that of second-place Tajikistan. Turkey ranks third with 6,000 tonnes. Antimony, recognized as a strategic metal, is widely used in military applications, including ammunition, infrared missiles, and nuclear weapons. Its heat-resistant properties make it valuable in automotive batteries and brake pads, as well as in solar cell glass and smartphone screens.

    “This is a clear signal of rising geopolitical tensions,” commented Christopher Ecclestone, a mining strategist at Hallgarten & Company. “The military importance of antimony is driving this move, which will significantly impact U.S. and European defense industries.”

    The announcement sent rare metal producer stocks soaring. Shares of Hunan Gold Corporation, a leading antimony producer, have risen by 64% this year, while Perpetua Resources has surged by 270%.

    The ban follows Washington’s recent measures targeting China’s semiconductor industry, escalating the trade war between the world’s two largest economies. Last year, China imposed export restrictions on gallium and germanium products, and in August 2023, further tightened controls on antimony exports.

  • East Star Resources Announces Significant Progress on Copper Exploration in Kazakhstan

    East Star Resources Announces Significant Progress on Copper Exploration in Kazakhstan

    East Star Resources Plc (LSE: EST), a company focused on copper exploration in Kazakhstan, has shared promising updates from its exploration strategy at the Snowy licence. The project, located on the Paleozoic Balkash-Ili volcanic arc, received initial funding through a US$500,000 BHP Xplor grant.

    Recent soil sampling efforts have revealed two significant anomalies. The first is a 5 km by 1 km gold anomaly aligned with the alteration patterns observed in multispectral imagery and situated near an artisanal gold mine. The second anomaly spans 2 km by 2 km and exhibits strong molybdenum (Mo) and bismuth (Bi) signals, exceeding thresholds by over 10 times for Mo and 100 times for Bi, indicative of potential porphyry systems.

    Chris van Wijk, East Star’s Technical Director, remarked, “The geochemical results align with regions known for hydrothermal activity, strengthening the case for further exploration. These findings showcase the value of integrating multispectral imaging and soil geochemistry in mineral exploration.”

    The next steps include field verification and geological mapping to identify mineralisation characteristics. If supportive data is obtained, the company plans to proceed with Induced Polarity (IP) surveys to target disseminated sulphides.

    During the 2024 field season, East Star collected 1,469 soil samples, revealing two targets, the Central Target and East Target. The Central Target displayed anomalies in Mo and Bi, consistent with porphyry systems. The East Target showed elevated gold and silver levels, aligning with epithermal vein systems observed in nearby artisanal operations.

    Systematic soil geochemistry, combined with multispectral analysis using ASTER data, has been pivotal in refining exploration areas. The analysis highlighted silica lithocaps with distinct geochemical signatures, further substantiating their potential.

    East Star’s strategy underscores its commitment to leveraging advanced techniques in uncovering mineral resources in Kazakhstan, paving the way for future exploration milestones.

  • Canadian Investor Completes Field Studies Near Ekibastuz, Plans Drilling Campaign

    Canadian Investor Completes Field Studies Near Ekibastuz, Plans Drilling Campaign

    A Canadian investor has concluded field studies on prospective sites near Ekibastuz and plans to begin exploration drilling in early 2025, reports Kursiv.

    Arras Minerals, which has been exploring copper and gold deposits in Kazakhstan for several years, is focusing on areas in the Pavlodar region. In 2023, the company surveyed blocks spanning 1,700 km², collecting 35,000 samples. These exploration efforts are concentrated near existing Arras Minerals projects, including Beskauga, Tau, and Elemess.

    The primary site, covering 1,300 km², lies adjacent to the Bozshakol copper mine operated by KAZ Minerals, located 56 km northwest of Ekibastuz. A secondary site, situated 90 km southeast of the city, has been divided into the Norgubekand Akkuduk projects.

    Arras Minerals plans to continue drilling operations in 2025. The company holds the third-largest license portfolio for copper and gold exploration in Kazakhstan, following major international players Rio Tinto and Fortescue.

    Meanwhile, another major project in the Pavlodar region is underway. By the end of 2026, Fonet Er-Tai Mining aims to launch a hydrometallurgical plant capable of producing up to 5,000 tons of cathode copper annually, further boosting the region’s metallurgical industry.

  • Solidcore Resources Extends $96 Million Loan to Bai Tau Minerals for Copper and Gold Exploration in Kazakhstan

    Solidcore Resources Extends $96 Million Loan to Bai Tau Minerals for Copper and Gold Exploration in Kazakhstan

    Solidcore Resources plc (“Solidcore”) has announced a $96 million investment loan to Bai Tau Minerals (BTM), a junior exploration company specializing in copper and gold projects in Kazakhstan. This partnership aims to unlock the country’s vast copper resource potential while providing Solidcore with strategic access to key mineral assets.

    BTM’s portfolio comprises over 15 copper-porphyry and gold projects spanning 1,000 km², including Besshoky in the Karaganda region and East Balkhash-2 in Jetisu, two advanced projects with significant resource potential. The three-year loan, secured by a pledge of interest in BTM and its subsidiaries, will fund further exploration activities.

    Vitaly Nesis, Group CEO of Solidcore Resources plc, described the agreement as an industry-recognized financing mechanism. He highlighted the deal’s value in providing risk-adjusted access to green metal resources and BTM’s expertise in mineral exploration.

    The loan also grants Solidcore a right-of-first-refusal (ROFR) on any ownership transactions involving BTM or its subsidiaries, ensuring strategic exclusivity on key assets. Furthermore, broad access to BTM’s financial and technical data will facilitate accurate project valuation and support future acquisition or investment decisions.

    This partnership positions Solidcore to benefit from potentially large copper resource discoveries with limited downside risk, enhancing its strategic focus on green metals for global markets.

     

  • Ukraine and Italy are expanding cooperation in the supply of critical raw materials

    Ukraine and Italy are expanding cooperation in the supply of critical raw materials

    Ukraine and Italy are enhancing cooperation in the supply of critical raw materials, as announced by Ukrainian Deputy Prime Minister Yuliia Svyrydenko at the Italy-Ukraine Business Forum in Rome.

    Italian firms like Camozzi and Bondioli & Pavesi, with operational plants in Ukraine, were highlighted alongside Danieli, a major supplier for Ukrainian metallurgy.

    This collaboration aims to develop value chains, attract investments, and promote sustainable practices within the sector. The partnership will also focus on research and innovation, involving cooperation between Italian and Ukrainian geological and environmental institutions.

     

  • Solidcore Resources Announces Strategic Exploration Partnership with Bai Tau Minerals

    Solidcore Resources Announces Strategic Exploration Partnership with Bai Tau Minerals

    Solidcore Resources plc has entered into a strategic partnership with Bai Tau Minerals (“BTM”), a Kazakhstan-based junior exploration company, by extending a US$96 million investment loan. This collaboration aims to accelerate the development of BTM’s portfolio of copper and gold projects in Kazakhstan, a region with significant untapped resource potential.

    “BTM is a team of experienced geology professionals working towards unlocking Kazakhstan’s significant copper resource potential. Our agreement represents an efficient, industry-recognized financing mechanism, enabling our partner to accelerate the resource assessment. In turn, it provides us with strategic risk-adjusted access to valuable green metals resources and BTM’s mineral exploration expertise,” said Vitaly Nesis, Group CEO of Solidcore Resources plc.

    BTM’s extensive portfolio spans over 15 copper-porphyry and gold projects, covering more than 1,000 square kilometers. Among its assets, Besshoky in the Karaganda region and East Balkhash-2 in the Jetisu region are at the most advanced stages, demonstrating significant resource potential.

    The US$96 million loan, secured by a pledge of interest in BTM and its subsidiaries, will fund exploration activities. The three-year loan term provides Solidcore with comprehensive access to BTM’s financial and technical data, enabling accurate project valuation and informed decisions on potential future investments.

    As part of the agreement, Solidcore has secured a right-of-first-refusal (ROFR) on transactions involving ownership interests in BTM or its subsidiaries funded by the loan. This provision grants Solidcore strategic exclusivity on key assets.

    The partnership underscores Solidcore’s strategic focus on green metals and the discovery of potentially large copper resources, offering significant upside potential while minimizing downside risk.

  • Tajikistan Backs “Green Corridor” Initiative, Eyes Enhanced Regional Cooperation

    Tajikistan Backs “Green Corridor” Initiative, Eyes Enhanced Regional Cooperation

    Tajikistan has announced its support for the creation of a “green corridor” connecting Azerbaijan, Kazakhstan, and Uzbekistan, signaling a commitment to enhanced regional collaboration. In an interview with Report, Jamshed Shoimzoda, Tajikistan’s First Deputy Minister of Energy and Water Resources, highlighted the country’s untapped hydropower potential, noting that only 5% of it is currently utilized. Remarkably, 95% of Tajikistan’s energy production is already green, Shoimzoda stated.

    He emphasized that if Tajikistan’s full potential were harnessed, the energy generated would exceed the combined needs of Central Asian countries by four times. Shoimzoda also praised Azerbaijan’s efforts to establish transport corridors linking Central Asia to Europe, which could enable Tajikistan to deliver its green energy not only regionally but also to European markets.

    Shoimzoda noted that advancements in technology and lower costs have made this project feasible, despite its technical challenges two decades ago. In addition to energy, Tajikistan and Azerbaijan are exploring cooperation in mineral resource development. At a recent intergovernmental meeting, the two nations discussed leveraging Azerbaijan’s experience in this field to support Tajikistan’s burgeoning extraction industry.

  • Kazakhstan Secures $370 Million in Hungarian Investments

    Kazakhstan Secures $370 Million in Hungarian Investments

    Since 2005, Kazakhstan has attracted $370 million in Hungarian investments, President Kassym-Jomart Tokayevannounced during a joint press conference with Hungarian Prime Minister Viktor Orbán in Budapest, as reported by Trend.

    The president noted a growing interest among Hungarian companies in investment opportunities within Kazakhstan. Key discussions were held with leaders from major firms such as MOL, OTP Group, and Gedeon Richter. Highlighting this partnership, Kazakhstan signed an agreement with UBM Holding to construct three feed production plants worth $62 million.

    Tokayev emphasized the potential for collaboration in sectors like rare metals mining and processing, water resource management, and agriculture. He outlined priorities including trade diversification, adopting cutting-edge technologies, and enhancing partnerships in energy, digitalization, and transport. These initiatives, supported by the Kazakh-Hungarian Intergovernmental Commission and Strategic Council, aim to deepen economic and investment ties.

  • Canadian Company to Search for Copper and Gold in Pavlodar Region in Kazakhstan

    Canadian Company to Search for Copper and Gold in Pavlodar Region in Kazakhstan

    A Canadian company, Arras Minerals, is set to initiate active drilling in the first half of 2025 to locate copper and gold deposits in the Pavlodar region, according to the company’s press service.

    Arras Minerals has announced that it conducted extensive geological exploration in 2024 across an area of 1,700 square kilometres near its Beskauga, Elemes, and Tau projects, which are situated near Ekibastuz. During this fieldwork, the company drilled 435 holes and collected 35,000 soil samples. The exploration identified promising areas for drilling, which are scheduled to commence in 2025.

    “It is excellent to see the significant progress the Arras-Teck Exploration alliance has made in exploring this promising and underexplored area. We plan to start drilling on several priority copper targets, which have not been explored previously and are under shallow cover, in the first half of 2025,” stated CEO Tim Barry.

    The surveys were carried out at two sites. The first site, covering an area of 1,300 square kilometres, is located 56 kilometres northwest of Ekibastuz and includes the Bozshakol mine of KAZ Minerals. The second site, situated 90 kilometres southeast of Ekibastuz, is divided into the Akkuduk and Norgubek projects.

    Arras holds the third-largest copper and gold mining licence portfolio in Kazakhstan, following Rio Tinto and Fortescue. In December 2023, the company entered into an agreement with another Canadian firm, Teck Resources Limited, under which TRL will finance Arras’ $5 million exploration programme for 2024-2025. Teck also holds a 10% stake in the Beskauga project.

    In late September, Arras Minerals President Darren Klink admitted in an interview with Kitco Mining at the Precious Metals Summit in Canada that he had little knowledge of Kazakhstan three years ago but now considers the country one of the easiest places he has worked in over the last 20 years.

    “This is really a nation that has undergone significant changes even in the last five or six years. They have done an excellent job of reforming all aspects of business, but in terms of mining, they have essentially adopted the Western Australian mining code, incorporating good elements from Ontario and Quebec. Now, the major mining companies are starting to invest. From my perspective, it has been nothing but positive surprises, and from a jurisdictional standpoint, it is probably one of the most comfortable places I have worked in the last 20 years,” Klink said.

  • Kazatomprom Expands Uranium Exploration with New License

    Kazatomprom Expands Uranium Exploration with New License

    Kazakhstan’s national atomic company, Kazatomprom, has added a new license for geological exploration to its portfolio, focusing on the Budyonovskoye area. According to an announcement on the company’s official website, Kazatomprom is set to explore uranium deposits in the “Severnoye” block.

    The newly targeted site is located in the Shu-Sarysu Uranium Province in the Suzak district of the Turkestan region. Kazatomprom has secured a six-year subsoil use contract, with an option to extend it for an additional five years. Preliminary estimates place the predictive uranium resources at over 100,000 tons, classified as R1 and R2. During the contract period, the company plans to reassess these resources and elevate them to higher confidence categories, C1 and C2.

    According to Meirzhan Yusupov, Chairman of Kazatomprom, the Severnoye block has substantial potential, thanks to its large metal reserves, favorable geological conditions, and proximity to the company’s other operational uranium projects.

    Earlier this fall, Kazatomprom received a license to explore Block No. 5 on the southern flank of the Budyonovskoye area. However, its estimated reserves are comparatively smaller at 18,000 tons of uranium.