MINEX Forum

Website: Eurasia.com

  • Chinese-Linked Dengbo Success Minerals Plans Underground Copper-Zinc Mine in East Kazakhstan With Production Starting 2028

    Chinese-Linked Dengbo Success Minerals Plans Underground Copper-Zinc Mine in East Kazakhstan With Production Starting 2028

    Dengbo Success Minerals Ltd is planning to develop the Novo-Berezovskoye copper-zinc deposit in the Glubokovskoye District of East Kazakhstan Region through underground mining, with ore extraction scheduled to begin in 2028 and a total mine life of 13 years, according to project documentation published for public consultation.

    The deposit is located 54 kilometres northwest of Ust-Kamenogorsk and 1.2 kilometres from the village of Verkhneberezovka, adjacent to a railway line. The mine plan envisages annual ore extraction of 300,000 tonnes in 2028 rising to 500,000 tonnes in 2029 and a peak rate of 700,000 tonnes per year from 2030 to 2034, before declining to 395,000 tonnes in 2035 and entering a three-year wind-down phase from 2036.

    The deposit contains eight primary ore bodies with a predominantly northwest strike and dip angles of 40 to 75 degrees. The ore bodies extend more than 2,000 metres along strike and have been traced to an average depth of 750 metres, with the majority of reserves concentrated below 80 metres from surface. Total ore volume is estimated at 4,695,000 tonnes with grades of 1.67% copper, 4.85% zinc, 1.67% lead and 0.3 grams per tonne gold — grades the project documentation describes as favourable.

    Dengbo Success Minerals Ltd is owned by Xinjiang Dengbo New Energy Co. Ltd, a Chinese company that provides silicon core processing services for the photovoltaic industry. The company’s director is listed as Jin Sheng in the Kazakhstani public registry adata.kz.

    The Novo-Berezovskoye deposit was offered at auction by Kazakhstan’s Ministry of Industry in 2025. Chinese companies have been active participants in Kazakhstan’s metals deposit auctions in recent years.

  • Uzbekistan Mining Minister Meets Itochu Corporation to Advance Japanese Investment in Geological Exploration and Critical Minerals

    Uzbekistan Mining Minister Meets Itochu Corporation to Advance Japanese Investment in Geological Exploration and Critical Minerals

    Uzbekistan’s Minister of Mining Industry and Geology Bobir Islamov has met with representatives of Japan’s Itochu Corporation to discuss expanding cooperation in mining and geological exploration, with a focus on attracting Japanese investment and advanced technologies to Uzbekistan’s growing minerals sector.

    The meeting took place on the sidelines of the fifth Tashkent International Investment Forum and was attended by officials from the Ministry of Mining Industry and Geology and state-owned uranium producer Navoiyuran. The parties reviewed opportunities to advance prospective joint projects and strengthen investment flows into Uzbekistan’s mineral resources sector.

    Itochu is one of Japan’s largest general trading companies, operating across metals and minerals, energy, machinery, chemicals, food and infrastructure in more than 60 countries. The corporation already has a footprint in Uzbekistan’s uranium sector through a joint uranium enterprise in Navoi involving Navoiyuran, making the meeting a natural extension of an existing commercial relationship.

    The discussions reflect Uzbekistan’s broader strategy of attracting foreign capital and technological expertise to develop its substantial mineral endowment — including uranium, gold, copper and a growing portfolio of critical minerals — as the country seeks to move beyond raw material extraction toward value-added industrial production. Japan’s interest in Central Asian minerals is driven by structural necessity: the country is entirely dependent on mineral imports and has been systematically diversifying supply chains away from Chinese dominance through government-backed engagement across the region.

  • Canada and Germany Deepen Critical Minerals Partnership With Stockpiling Focus and Capital Investment Target by End of 2026

    Canada and Germany Deepen Critical Minerals Partnership With Stockpiling Focus and Capital Investment Target by End of 2026

    Canada and Germany have agreed to advance their critical minerals supply chain partnership with a specific focus on stockpiling cooperation and capital investment commitments, Prime Ministers Mark Carney and Chancellor Friedrich Merz confirmed at the G7 summit in Évian.

    The two leaders took stock of shared vulnerabilities in raw materials supply chains and agreed to cooperate closely both bilaterally and within the G7 framework, stressing the need for industry to actively diversify away from concentrated sources of supply.

    The commitment builds on a Joint Declaration of Intent announced in August 2025, under which Germany and Canada have already deepened integration through a Canadian business mission to Munich, a high-level German critical minerals delegation to the Prospectors and Developers Association of Canada annual convention in Toronto, and the launch of a joint supply chain mapping initiative to identify priority battery value chain opportunities.

    The two countries now agree to work together on enhancing a partnership specifically on critical minerals stockpiling, with the aim of leading to concrete capital investments by the end of 2026 — a measurable near-term deliverable that distinguishes the commitment from broader diplomatic declarations.

    The agreement reflects the alignment between Canada’s positioning as a strategic critical minerals supplier and Germany’s acute industrial need to secure raw materials for its automotive, electronics and defence manufacturing base, both of which have been exposed by China’s progressive tightening of export controls on strategic materials.

  • Uzbekistan Launches $166 Million in Critical Metals Projects in 2026 Including First-Ever Domestic Selenium, Tellurium and Rhenium Production

    Uzbekistan Launches $166 Million in Critical Metals Projects in 2026 Including First-Ever Domestic Selenium, Tellurium and Rhenium Production

    Uzbekistan is launching 12 investment projects in critical metals this year with combined investment of $166 million, marking the first domestic production of high-purity selenium, tellurium and rhenium in the country’s history alongside 21 new categories of import-substituting products, according to the press service of President Shavkat Mirziyoyev.

    The 2026 initiatives are part of a broader industrial programme targeting 120 projects by 2030 with combined investment of $4.2 billion. Production volumes in monetary terms are projected to reach $1 billion by 2028 and $2 billion by 2030, according to a presentation delivered to the President this week. The plan foresees developing up to 28 critical minerals at industrial scale through the exploitation of promising deposits and the creation of modern processing infrastructure.

    The Uzbek Technological Metals Complex currently produces primarily tungsten and molybdenum. A central objective of the expanded programme is moving beyond raw material exports to downstream products — metal powders, alloys, rods, wire and industrial components — capturing significantly more value per tonne of ore extracted.

    The city of Chirchik will serve as the transformation hub for the sector. A Metals of the Future technopark and a dedicated research and development centre will be established there, with measures to facilitate the commercialisation of scientific advances, a startup support programme, and production of high-purity metals and innovative materials. A scientific and technology centre for critical minerals will also be established within the cluster, housing a laboratory capable of conducting nanoanalysis on up to 1,000 samples per day and providing analytical support to geological, mining and metallurgical projects across the country.

  • US Customs Detains Serbia Zijin Copper Shipments Over Forced Labour Allegations Covering Six ILO Indicators

    US Customs Detains Serbia Zijin Copper Shipments Over Forced Labour Allegations Covering Six ILO Indicators

    US Customs and Border Protection has issued a Withhold Release Order against copper and copper products manufactured by Serbia Zijin Copper, directing all US ports of entry to detain shipments from the Chinese-controlled Serbian copper producer following an investigation that found evidence of six International Labour Organization indicators of forced labour.

    CBP said its investigation drew on worker statements, photographs, focus group field notes, text message screenshots, NGO reports, news media and academic research. The evidence collectively demonstrated that workers at Serbia Zijin Copper are subject to abuse of vulnerability, withholding of wages, intimidation and threats, restriction of movement, retention of identity documents and excessive overtime.

    Importers of detained shipments may either destroy or export their goods, or seek to demonstrate to CBP that the merchandise was not produced using forced labour. Serbia Zijin Copper had not responded to a request for comment at time of publication.

    “US manufacturers face unfair competition when foreign companies cut costs by using forced labour. By enforcing our laws against forced labour, CBP safeguards human rights as well as our nation’s economic security,” said Susan S. Thomas, CBP Office of Trade executive assistant commissioner.

    Serbia Zijin Copper was created in 2018 when China’s Zijin Mining injected $350 million into Serbian copper mining and smelting company RTB Bor, acquiring a 63% stake. In 2025, the company produced 123,286 tonnes of mine copper and 43,852 tonnes of refined copper. Zijin is also present in Serbia through wholly-owned Serbia Zijin Mining, which operates the Čukaru Peki copper-gold mine. Combined, the two Zijin operations in Serbia produced 296,000 tonnes of mine copper in 2025, making them Europe’s second-largest mined copper producer. A 2025 UN Special Rapporteur report noted that most of this copper is exported to China.

    Tuesday’s order is the fourth forced labour Withhold Release Order issued by CBP in fiscal year 2026, following a December 2025 order against tyres produced by Chinese company Linglong’s Serbian factory on the same grounds.

  • Canada Grants Italy Priority Access to Critical Mineral Reserves as Carney and Meloni Deepen G7 Supply Chain Partnership

    Canada Grants Italy Priority Access to Critical Mineral Reserves as Carney and Meloni Deepen G7 Supply Chain Partnership

    Canadian Prime Minister Mark Carney has offered Italy priority access to Canada’s critical mineral reserves, with the two leaders using the G7 summit in Évian to expand bilateral cooperation spanning supply chains, defence procurement and energy at a moment when Western allies are accelerating efforts to secure strategic resource access.

    The meeting between Carney and Italian Prime Minister Giorgia Meloni builds on a year of growing bilateral engagement. Recent milestones include Italian energy company Eni’s nearly C$100 million investment to secure graphite from Nouveau Monde Graphite’s Matawinie project in Quebec, Italy’s entry into the Critical Minerals Production Alliance, and a series of trade and investment initiatives between the two countries.

    “Italy’s intention to collaborate with Canada to stockpile critical minerals will catalyze further partnerships between our countries in energy and industry,” the Canadian government said in a statement. Meloni thanked Carney for granting priority access, with the Italian government’s statement describing the move as helping to safeguard supply chains.

    The agreement reflects Canada’s broader strategy of positioning itself as a core strategic supplier of minerals essential to battery manufacturing, defence technologies and industrial production, as G7 nations work to reduce dependence on concentrated global supply chains dominated by China.

    Beyond minerals, the two leaders launched negotiations for Canada’s purchase of Leonardo M-346 advanced jet trainer aircraft from Italy, framing the proposed acquisition as advancing Canada’s Defence Industrial Strategy through partnerships with trusted allies. Carney also highlighted plans for a new Defence, Security and Resilience Bank to finance long-term defence and security projects.

    Carney and Meloni also reaffirmed support for Ukraine, agreed on maintaining pressure on Russia and discussed Middle East developments.

  • Kazatomprom CEO Says Value Over Volume Strategy Holds as AI Power Demand and Global Nuclear Renaissance Reshape Uranium Market

    Kazatomprom CEO Says Value Over Volume Strategy Holds as AI Power Demand and Global Nuclear Renaissance Reshape Uranium Market

    Kazatomprom will not abandon its longstanding strategy of prioritising value over production volumes despite a surge in global nuclear demand driven by artificial intelligence power consumption, reactor construction in China and energy security concerns across Western markets, the company’s chief executive has said.

    Meirzhan Yussupov told MINING.COM that the world’s largest uranium producer remains committed to a disciplined approach to supply management. “We have our ‘value over volume’ strategy, which we adopted many years ago. We don’t want to flood the market with cheap uranium. That’s how we create value for our stakeholders, for the next generations, and for our country,” he said.

    The comments come as utilities focus increasingly on supply security rather than spot market pricing, and as China, India and Middle Eastern nations expand ambitious nuclear programmes. China alone is targeting more than 100 reactors by 2030 and as many as 200 by 2040 — a trajectory that could make it the world’s largest nuclear power market. Yussupov argued that nuclear power is becoming increasingly essential to grid reliability as renewable generation scales and AI-related electricity demand accelerates, creating structural tailwinds for uranium demand that are likely to persist for decades.

    On downstream ambitions, Yussupov said Kazatomprom’s long-term goal is to host a complete nuclear fuel cycle within Kazakhstan, including conversion and enrichment capabilities, though he acknowledged that geopolitical and technology-transfer barriers remain significant. Conversion projects are receiving closer commercial scrutiny as market conditions improve and margins strengthen, with any investment decision subject to commercial returns and shareholder value considerations.

    The company has also expanded use of the Trans-Caspian Middle Corridor for deliveries to Western customers, with as much as 65% of uranium shipped to Western markets in some recent years travelling through this route — providing an alternative to Russian transit corridors while preserving customer flexibility.

    Yussupov positioned Kazatomprom as a broader ambassador for Kazakhstan’s investment credentials, noting the company’s seven-fold share price increase since its public listing and its role in demonstrating the country’s attractiveness to international capital. Kazakhstan’s stable regulatory framework, adherence to international non-proliferation standards and partnership with the International Atomic Energy Agency have been central to building trust with customers and shareholders, he said.

  • Portugal Unveils €400 Million Aljustrel Mine Expansion as Prime Minister Backs Mining as Pillar of Economic Sovereignty

    Portugal Unveils €400 Million Aljustrel Mine Expansion as Prime Minister Backs Mining as Pillar of Economic Sovereignty

    Portugal has inaugurated a €400 million expansion at the Aljustrel copper and zinc mine in the Beja district, with Prime Minister Luís Montenegro framing the investment as essential to building a “modern, productive and sovereign Portugal” as the country positions itself as a strategic supplier of critical raw materials for Europe’s energy transition.

    The project, developed by ALMINA – Minas de Portugal over five years and branded Feeding the Global Energy Transition, has received approximately €128 million in funding from Portugal’s Plan for Recovery and Resilience. The expansion significantly increases the mine’s processing capacity to six million tonnes of copper and zinc ore annually and includes a new solar photovoltaic facility capable of generating more than 40,000 megawatt-hours of electricity per year for the mine’s own consumption. The upgraded processing plant enables copper and zinc ores to be treated simultaneously, improving metal recovery rates and creating additional value while helping offset commodity price and currency volatility.

    ALMINA chairman Humberto Costa Leite described the investment as placing the company at the forefront of modern mining, invoking the mine’s deep strategic significance. “There is no energy transition without a digital revolution, and there is no digital revolution without mining. Mining is kilometre zero of modern life, and that kilometre zero has a historic address: Aljustrel,” he said.

    Looking ahead, ALMINA is awaiting environmental approval for a further €150 million investment over four years to develop the Gavião copper deposit, and has invested €10.8 million in exploring the Albernoa zinc and copper deposit, where experimental exploitation is planned. Costa Leite criticised regulatory delays, warning the company has already lost more than a year awaiting approval to advance Albernoa. “We need the state to be a facilitator, not an obstacle to wealth creation,” he said, calling for faster licensing procedures and stronger support for mineral exploration.

    The chairman also highlighted the financial burden of energy costs, noting ALMINA faces monthly electricity bills exceeding €2 million, and urged the government to adopt long-term energy policies to support the mining industry’s competitiveness.

  • G7 Leaders Agree 60% Import Concentration Cap on Rare Earths by 2030 and Pledge Binding Quotas for Defence Sector

    G7 Leaders Agree 60% Import Concentration Cap on Rare Earths by 2030 and Pledge Binding Quotas for Defence Sector

    Group of Seven leaders meeting at their Evian summit in France have agreed that no single country should supply more than 60% of their imports of rare earth elements by 2030, in the most concrete collective commitment yet to reduce dependence on China’s near-monopoly over critical minerals supply chains.

    Leaders also discussed introducing binding import quotas for companies in specific industrial sectors — with defence manufacturers identified as a priority given their acute exposure to Chinese supply disruptions — and pledged to establish a platform to combine recycling efforts and new mining project development. For other critical minerals beyond rare earths, G7 members committed to establishing specific diversification targets by the end of 2025.

    German Chancellor Friedrich Merz confirmed the alignment at the summit. “We agreed in various formats to work even more closely together on critical raw materials. We had very in-depth discussions with our guests about how we can diversify,” he told reporters.

    One G7 official described critical minerals as one of the few issues on which leaders reached full agreement at a summit otherwise dominated by questions surrounding the US-Iran peace deal. Another official noted that all members were aligned on the need to reduce vulnerability to supply interruptions.

    The 60% concentration cap will be challenging to meet. China imposed sweeping export controls on most critical minerals and rare earths last year, threatening manufacturing lines globally and demonstrating the leverage Beijing has accumulated through decades of investment in supply chain dominance. A 2025 IEA report found China controlled roughly 70% of refining capacity across the majority of critical minerals, rising to 85% for processed cobalt and 99% for primary gallium. Japan, despite years of diversification efforts following a 2010 export ban during a maritime border dispute, still sources approximately 75% of its rare earth imports from China. China also imposed a wide-ranging ban on dual-use products affecting Japan following a spat over Taiwan this year.

    Officials acknowledged the 2030 deadline is ambitious given that many prospective mining and processing projects face funding constraints, regulatory hurdles, social opposition and technical setbacks. One official said binding quotas — at least for sectors like defence — may prove necessary to drive real change rather than voluntary commitments.

  • Indonesia Invites Germany to Join Critical Minerals Supply Chain Including Rare Earths During Steinmeier State Visit

    Indonesia Invites Germany to Join Critical Minerals Supply Chain Including Rare Earths During Steinmeier State Visit

    Indonesian President Prabowo Subianto has invited Germany to participate in Indonesia’s critical minerals supply chain, including rare earth elements, as the two countries sought to deepen economic cooperation during a state visit by German President Frank-Walter Steinmeier to Jakarta.

    Speaking at a joint press conference, Prabowo said Indonesia was opening its doors to Germany across a broad range of strategic sectors including energy transition, energy security, education and employment. He extended invitations for expanded German investment in downstream industries, electric vehicles, the semiconductor industry and the energy sector more broadly.

    The invitation reflects Indonesia’s ongoing strategy of leveraging its substantial critical minerals endowment — including the world’s largest nickel reserves and significant deposits of bauxite, copper, cobalt and rare earths — to attract investment from major industrial economies seeking to diversify supply chains away from Chinese dominance. Jakarta has pursued an aggressive downstream processing mandate since 2014, requiring minerals to be processed domestically before export, a policy that has attracted significant Chinese investment in nickel processing and which Jakarta is now seeking to broaden toward Western partners.

    Germany, as Europe’s largest industrial economy and a major manufacturer of electric vehicles and high-technology equipment, has a strong strategic interest in securing access to the battery metals and rare earths Indonesia holds, particularly as Berlin expands its raw materials fund and intensifies its critical minerals diplomacy globally.