Controversy surrounds the European Union’s recent agreement with Rwanda on the sustainability and traceability of strategic minerals, as critics, including “Insieme pace per il Congo” and seven other organizations, demand its annulment. Expressing concern, these groups, including the “Rete Pace per il Congo” Network, question the wisdom of engaging in such an accord with a country that allegedly acquires these minerals illegally from a neighboring state. The protocol agreement, signed on February 19th, faces objections from Cardinal Fridolin Ambongo Besungu and others who argue that Rwanda’s prominence in the tantalum mining sector is marred by the exploitation of wars and clandestine movements since 1996. Despite the EU’s assertion that the agreement aims to uphold legality and traceability standards, critics emphasize Rwanda’s questionable practices, accusing it of benefiting from conflicts in the Democratic Republic of Congo. The statement from the opposition cites the flow of valuable minerals, such as gold and coltan, from Congo to Rwanda through complicit border practices, leading to violence, displacement, and suffering. “Insieme per la Pace nel Congo” appeals to the European Union to reconsider the agreement, urging sanctions against Rwanda for its alleged involvement in the illegal trade of minerals. They emphasize the need for a fair and impartial approach to foster peaceful coexistence in the African Great Lakes region.
Website: Eurasia.com
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Korean Geologists Uncover $15.7 Billion Lithium Deposit in Kazakhstan
Korean Institute of Geoscience and Mineral Resources (KIGAM) reveals plans to exploit a lithium deposit in eastern Kazakhstan, covering an area of 1.6 square kilometers, as reported by Orda.kz citing The Korea Times. The region, previously mined for tantalum, has resources estimated at around $15.7 billion. KIGAM, responding to Kazakhstan government’s request, studied the area since May last year, considering the significance of tantalum coexisting with lithium and cesium. Lithium, a crucial mineral for electric vehicle and modern industries, is a key component in batteries. KIGAM aims to apply for drilling rights in the region, intending to commence lithium extraction next year.
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ArcelorMittal Kryvyi Rih Plans to Increase Capacity Utilization to 50% Despite Challenges
ArcelorMittal Kryvyi Rih, a leading steelmaking enterprise in Ukraine, aims to ramp up its production capacity utilization to 50% in 2024 despite facing various challenges. Mauro Longobardo, the company’s CEO, revealed plans to boost production by leveraging improved maritime logistics, as stated in an interview with Delo.ua.
Longobardo highlighted the positive development of maritime logistics, particularly the accessibility of Black Sea ports for the company’s products, including iron ore concentrate, pig iron, and rolled metal. He emphasized the significance of this advancement in facilitating increased production levels.
The company intends to maximize the capacity of its mining division and initiate operations of two blast furnaces in April 2024, marking a significant milestone toward achieving 50% of its pre-war capacity. Longobardo explained the cautious approach in delaying the launch of the second blast furnace earlier due to the risk of attacks on energy infrastructure, a concern validated by recent incidents in the Kryvyi Rih district.
Currently operating at 25% of its full capacity, ArcelorMittal Kryvyi Rih faces challenges associated with the expensive sea route for its products. Longobardo revealed that freight rates have doubled, attributing the increase to risk premiums imposed by ship owners and crew members. Despite the high costs, the company remains hopeful for price reductions and increased traffic along the corridor.
In January 2024, the company witnessed notable growth in steel production, rolled steel, pig iron, iron ore concentrate, and coke, reflecting its resilience amid challenging circumstances. Despite the hurdles encountered in 2023, including the production of 1 million tons of steel, ArcelorMittal Kryvyi Rih remains committed to contributing to the Ukrainian economy and maintaining its production facilities to scale up production when conditions permit.
ArcelorMittal Kryvyi Rih serves as a vital player in Ukraine’s steel industry, with production facilities capable of producing over 6 million tons of steel, 5 million tons of rolled products, and 5.5 million tons of pig iron annually. With a workforce of over 20 thousand employees, the company continues its operations amidst adversity, striving for growth and stability.
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Adriatic Metals BiH successfully produces first ore concentrate in Bosnia and Herzegovina’s Vares project
Adriatic Metals BiH proudly announced on February 27th, 2024, the successful production of the inaugural ore concentrate within the Vares project in Bosnia and Herzegovina. The Vares ore processing facility is poised to incrementally enhance its capacity in the following months, with a target processing capacity of around 65,000 tons per month expected by the fourth quarter of 2024.
Paul Cronin, the general manager of Adriatic Metals BiH, expressed his satisfaction with the achievement, stating, “I am delighted to announce another significant milestone in the production of the first concentrate within the Vares Project.” He emphasized the utilization of advanced technology in designing and constructing the ore processing plant, with a strong commitment to adhering to the highest health and safety standards. Cronin extended his appreciation to the dedicated team for their diligent efforts.
This milestone signifies a notable success for Adriatic Metals BiH and holds significance for the local community in Vares and the wider state of Bosnia and Herzegovina. The Vares project emerges as one of the most substantial post-war investments in the country, offering considerable economic and social benefits.
Throughout the project, Adriatic Metals BiH has prioritized local employment, collaboration with regional suppliers, engagement with authorities at all levels, and the adoption of state-of-the-art mining technology. This holistic approach not only drives economic growth but also ensures enduring advantages for the Vares community well beyond the mine’s operational lifespan.
Looking to the future, the company aims to further optimize the processing plant and expand underground operations in the ensuing months to achieve the targeted nominal production capacity by the fourth quarter of 2024.
Excerpt: Adriatic Metals BiH celebrates the successful production of the inaugural ore concentrate at the Vares project, marking a significant milestone in Bosnia and Herzegovina’s mining industry.
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Estonia Joins Minerals Security Partnership to Enhance Supply Chain Resilience
Estonia has recently announced its participation in the Minerals Security Partnership (MSP), an initiative led by the United States aimed at bolstering the security of critical raw materials. This move is part of Estonia’s strategy to expand its network and attract new industries to the country in the coming years.
The Ministry of Foreign Affairs underscored the significance of joining the MSP, emphasizing the importance of international cooperation in securing the supply of critical raw materials. With the presence of Europe’s largest rare earth elements processing plant in Estonia, membership in the MSP is seen as pivotal for the development of this sector.
Jüri Seilenthal, the Director General of the Department for External Economic Policy and International Economic Organisations at the Ministry of Foreign Affairs, stressed the need for Estonia to reduce reliance on external sources, especially in the face of global conflicts. He stated that participation in the MSP is aligned with Estonia’s goal of ensuring access to critical raw materials.
Ene Jürjens, the Director General of the Natural Resources Department at the Climate Ministry, highlighted Estonia’s expertise in processing rare earth elements, positioning the country uniquely in the global supply chain.
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Navoi Gold Attracts Global Investors, Showcasing Uzbekistan’s Mining Potential Main Body:
Uzbekistan’s mining sector took center stage as Navoi Gold orchestrated a compelling international investor meeting at its Tashkent offices, drawing significant attention from prominent global investment firms. With JP Morgan Chase Bank in Uzbekistan lending support, the event saw participation from key entities such as Eaton Vance, Colchester Global, BlueCrest Capital, Pictet, and Actia.
Emphasizing Navoi Gold’s commitment to excellence and innovation, Chief Transformation Officer E. Antonov and Chief Financial Officer J. Khasanov provided a deep dive into the company’s resilient performance, strategic transformation initiatives, and the integration of global best practices in its operations.
Antonov stated, “Our vision aligns with global standards, aiming not only to enhance our operational efficiency but also to contribute significantly to Uzbekistan’s economy.”
The discourse covered crucial topics, including technological advancements in mining, sustainability initiatives, and Navoi Gold’s strategic expansion plans. Investors expressed optimism about Uzbekistan’s mining sector and the broader economic landscape, acknowledging the positive dynamics and growth potential within the country.
Navoi Gold actively seeks global partnerships, solidifying its position as a pivotal contributor to the economic development of the region.
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Kazakhstan Canada Business Council Strengthens Ties at PDAC 2024 Convention
The 6th plenary session of the Kazakhstan Canada Business Council (KCBC) unfolded within the framework of the annual international Prospectors & Developers Association of Canada (PDAC) 2024 Convention. Co-chaired by Mr. Meirzhan Yussupov and Mr. Tim Gitzel, representing Kazatomprom and Cameco Corporation respectively, the session fostered collaboration on key sectors.
Preceding the plenary, three working groups convened in January and February, engaging over 250 participants in discussions on mining and metallurgy, agriculture, and education. Government and business representatives explored current challenges, cooperative solutions, priority areas, and potential projects to boost mutual trade and investment.
With over 150 delegates from Canadian and Kazakhstani business circles, the plenary session covered diverse topics, including energy security, carbon neutrality, environmental sustainability, corporate governance, trade, investment attraction, and education. Led by Honourable Kanat Sharlapayev and Honourable Ahmed Hussen, the Kazakhstani and Canadian delegations emphasized bilateral cooperation.
In the first panel, co-chairs Gitzel and Yussupov delved into uranium industry development, energy security, and environmental sustainability. Yussupov highlighted Kazatomprom’s global energy security contribution, while Gitzel underscored Cameco’s 35-year leadership and commitment to ESG issues. The discussion explored strategies for achieving net-zero emissions, reflecting on the future of both companies and the KCBC.
Working group reports by Yerlan Galiyev, Margaret Skok, and Alibek Sagidulla addressed mining, education, and agriculture respectively. Representatives from JSC “NC “KazakhInvest,” Export Development Canada, and the government of Alberta contributed to the event.
A dedicated session focused on the education sector, where Vice Minister Darkhan Akhmed-Zaki outlined Kazakhstan’s plans to establish an academic hub for higher education. The event concluded with a Networking Reception.
The KCBC, a vital platform for Kazakhstan-Canada business relations, expressed gratitude to the Canada-Eurasia Chamber of Commerce (CECC) for organizing the event, supported by the Canadian and Kazakhstani Embassies and companies like Lotz & Company, Teck Resources, SIMSA, and Techgarden.kz.
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Kazakh Minister Explores Economic Opportunities and Investment Collaborations in U.S. Visit
Kazakhstan’s Minister of Industry and Construction, Kanat Sharlapayev, embarked on a productive visit to the United States, seeking to enhance collaboration with the U.S. International Development Finance Corporation (DFC) and key players in the energy, geology, and mining sectors. During discussions with DFC Deputy CEO Nisha Desai Biswal, economic development, and the notable 12% increase in U.S. companies operating in Kazakhstan over the past year were addressed. Minister Sharlapayev highlighted Kazakhstan’s potential in processing rare metals, emphasizing opportunities in titanium, beryllium, tantalum, and niobium.
The meeting delved into various projects, including the construction of the KazAzot fertilizer plant, the production of electric vehicle charging stations, and the development of strategic hubs at the Aktau port and in the West Kazakhstan Region. Expressing interest, Biswal conveyed the DFC’s intention to explore large-scale projects in collaboration with Kazakhstan and expressed a desire to visit the country for further discussions.
Beyond DFC engagements, Minister Sharlapayev is set to meet with members of the U.S.-Kazakhstan Business Council and the U.S. Geological Survey. The focus will be on exploring new avenues for investment collaboration, addressing aspects like volumes, long-term contracts, and investment incentives. Kazakhstan’s well-established regulatory environment adds to the appeal for potential collaborations.
Highlighting Kazakhstan’s significance in the global supply chain, the ministry noted that the country produces and processes 17 of the 50 types of critical minerals identified by the United States. Notable examples include the successful cooperation in supplying beryllium and tantalum to major U.S. entities like Transport Technologies, International Business Corporation (IBC) U.S. Holdings, and Tosoh Specialty Metals Division (SMD).
In a strategic move, Minister Sharlapayev also plans to discuss the country’s collaboration in critical minerals with the U.S., aligning with similar efforts made with European partners, as emphasized in his interview with CNBC in December last year.
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Prime Minister of Kazakhstan Olzhas Bektenov Inspects Development of Export-Oriented Industry in Pavlodar Region
The Prime Minister of the Republic of Kazakhstan, Olzhas Bektenov, conducted an inspection of the progress in implementing the instructions of the Head of State, Kassym-Jomart Tokayev, regarding the development of export-oriented industry and technological modernization of enterprises in the Pavlodar region.
Bektenov visited the leading enterprises of the region: KSP Steel, Aluminum of Kazakhstan, Kazakh Electrolysis Plant, Aksu Ferroalloy Plant, and Aksu Power Plant, which make a significant contribution to the regional economy.
He familiarized himself with the production processes and products of the KSP Steel plant, which is the second-largest in the steelmaking sector and employs over 4,500 people. Bektenov noted the issue of bringing the enterprise to full production capacity and emphasized the need to create conditions for the utilization of domestic producers.
He also visited Aluminum of Kazakhstan JSC, highlighting the importance of the existing aluminum cluster for the region and the entire country. Bektenov called for increasing production conversion and technical modernization of the enterprise in line with environmental requirements.
The Prime Minister also inspected the work of Kazakh Electrolysis Plant, which ranks among the top ten plants in the world for producing high-grade primary aluminum. He expressed support for the strategy of increasing raw material processing within the country.
As part of the trip, Bektenov also visited Aksu Ferroalloy Plant and Aksu Power Plant, where extensive modernization is underway. He underscored the importance of accelerating the modernization of the communal-energy sector and expressed support for ensuring dynamic industrialization of the country’s economy.
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Премьер-Министр РК Олжас Бектенов ознакомился с развитием экспортоориентированной промышленности в Павлодарской области
Премьер-Министр Республики Казахстан Олжас Бектенов провел проверку хода выполнения поручений Главы государства Касым-Жомарта Токаева по развитию экспортоориентированной промышленности и технологической модернизации предприятий в Павлодарской области.
Бектенов посетил ведущие предприятия региона: KSP Steel, «Алюминий Казахстана», «Казахстанский электролизный завод», Аксуский завод ферросплавов и Аксускую электростанцию, которые вносят значительный вклад в региональную экономику.
Он ознакомился с производственными процессами и продукцией завода KSP Steel, который является вторым по значимости в сталеплавильном секторе и занято свыше 4,5 тыс. человек. Бектенов обратил внимание на проблему выхода предприятия на полную производственную мощность и подчеркнул необходимость создания условий для загрузки отечественных производителей.
Также он посетил АО «Алюминий Казахстана», отметив важность действующего алюминиевого кластера для региона и всей страны. Бектенов призвал к повышению производственного передела и технической модернизации предприятия с учетом экологических требований.
Глава Правительства также ознакомился с работой АО «Казахстанский электролизный завод», который входит в десятку лучших заводов мира по производству первичного алюминия высокой марки. Он выразил поддержку стратегии увеличения степени переработки сырья внутри страны.
В рамках поездки Бектенов посетил также Аксуский завод ферросплавов и Аксускую электростанцию, где ведется масштабная модернизация. Он подчеркнул важность ускорения модернизации коммунально-энергетического сектора и выразил поддержку обеспечению динамичной индустриализации экономики страны.