MINEX Forum

Website: Eurasia.com

  • Critical Metals approves Arctic pilot facility to advance Tanbreez rare earth project in Greenland

    Critical Metals approves Arctic pilot facility to advance Tanbreez rare earth project in Greenland

    Rare earth developer Critical Metals has approved the construction of a multi-use storage and pilot facility in Qaqortoq, Greenland, a move that sent its shares sharply higher on Wednesday. The new infrastructure is intended to support the company’s flagship Tanbreez project as it moves toward development.

    The company said the facility will be delivered under a full turnkey contract covering engineering, permitting, logistics, construction and commissioning. Designed specifically for Arctic conditions, the site is expected to be completed and operational by May 2026. In parallel, Critical Metals has acquired a residential property in Qaqortoq, which will be converted into a permanent local office and operational base.

    Chief executive Tony Sage said the project provides a clear and structured pathway to deploy pilot-scale infrastructure in a challenging Arctic environment, while also demonstrating the company’s commitment to responsible local operations.

    Investors reacted positively to the announcement, with Critical Metals’ stock rising as much as 16% to its highest level in more than two months, lifting the company’s market capitalization to around $1.5 billion.

    The Tanbreez project is regarded as one of the world’s largest rare earth deposits, hosting at least 45 million tonnes of resources within a largely underexplored kakortokite unit. Earlier this year, Critical Metals published a preliminary economic assessment outlining a phased development plan, with initial annual production of about 85,000 tonnes of rare earth oxides, potentially scaling up to 425,000 tonnes following modular expansion. The company has already secured offtake agreements covering roughly three-quarters of expected output and aims to finalize the remainder in the near term.

  • Kazakhstan tightens rules for subsoil use and mineral rights

    Kazakhstan tightens rules for subsoil use and mineral rights

    Kazakhstan has introduced stricter requirements for obtaining and retaining subsoil use rights after Kassym-Jomart Tokayev signed amendments to the Code “On Subsoil and Subsoil Use,” LS reports.

    Under the new rules, winners of subsoil auctions must pay signature bonuses before a license is issued. Companies that refuse to make the payment will be barred for five years from obtaining new subsoil rights or acquiring them from third parties.

    The amendments also prohibit concealed extraction of solid minerals under the guise of pilot or test production. Any such violations will result in the immediate revocation of exploration licenses.

    To prevent the emergence of inactive or stalled projects, higher investment requirements have been introduced. Investors must now confirm the availability of financing with supporting documentation before receiving rights to develop mineral resources.

    The changes were previously presented in the Mazhilis and are aimed at strengthening discipline among investors and ensuring more effective and transparent development of Kazakhstan’s mineral base.

  • Kazakhstan to explore new areas for lithium extraction with state-funded geological studies

    Kazakhstan to explore new areas for lithium extraction with state-funded geological studies

    Kazakhstan plans to expand its search for lithium resources by launching new geological studies across several regions of the country, the Ministry of Industry and Construction of Kazakhstan told LS Media.

    According to the ministry, state-funded exploration works are scheduled for 2027–2029 and will focus on mineralized brines, saline lake waters and salt flats in the Caspian and Aral Sea regions, as well as hard-rock formations in the Bayankol ore district. The objective is to determine whether these areas are suitable for commercial lithium extraction. The studies will be carried out as part of the national geological exploration program, with funding of 600 million tenge allocated from the state budget.

    In parallel, authorities expect to complete an assessment of Central Kalba in 2026. The work there is aimed at identifying areas prospective for lithium-bearing mineralization, as well as complex rare-metal and rare-earth mineralization within the Kalba–Narym zone.

    The ministry also highlighted significant potential for discovering new rare-earth deposits hosted in rare-metal granites and pegmatites. Promising targets include northern Kazakhstan near the Kokshetau rare-metal province, western Kazakhstan within the Mugodzhar rare-metal province, and eastern Kazakhstan at the southeastern end of the Chingiz–Tarbagatai rare-earth metallogenic zone.

    In addition, lithium occurrences have already been identified in salt flats across the Aral Sea region, Betpak-Dala and other parts of southern Kazakhstan, reinforcing expectations that the country could expand its role in the supply of critical battery minerals.

  • Germany’s Altmark basin emerges as potential lithium powerhouse through direct extraction technology

    Germany’s Altmark basin emerges as potential lithium powerhouse through direct extraction technology

    Northern Saxony-Anhalt, a region historically associated with natural gas production, is drawing renewed attention as a potential cornerstone of Europe’s lithium supply. New assessments indicate that deep underground brines in the Altmark basin contain far larger volumes of lithium than previously believed, offering a possible breakthrough for the continent’s battery materials strategy.

    Neptune Energy, which operates in the area, announced in late 2025 that an independent resource estimate by Sproule ERCE placed the Altmark deposit at around 43 million tonnes of lithium carbonate equivalent. Verified under the CIM/NI 43-101 standard, the estimate would rank Altmark among the world’s largest known single-site lithium resources if confirmed through further development.

    The lithium is hosted in deep geothermal brines within Rotliegend sandstone and volcanic formations at depths of 3,200 to 4,000 meters. Average lithium concentrations of about 375 milligrams per litre have been recorded, largely attributed to long-term mineral leaching from mica-rich volcanic rocks under high-temperature conditions.

    Rather than conventional open-pit mining or evaporation ponds, Neptune is advancing direct lithium extraction technologies. Pilot projects completed in 2025 successfully produced battery-grade lithium carbonate using ion exchange and adsorption methods. These enclosed systems return processed brine underground, significantly reducing land use and water consumption compared with traditional approaches.

    The project aligns with the European Union’s Critical Raw Materials Act, which targets greater domestic sourcing of strategic minerals such as lithium by 2030. By reusing legacy gas infrastructure and combining lithium recovery with geothermal heat potential, Altmark could offer a lower-impact model for mineral production within Europe.

    Commercial output has yet to begin, and further permitting and demonstration-scale validation are required. German regulators are expected to closely review groundwater protection, waste handling and long-term environmental performance. If successful, Altmark may play a pivotal role in reshaping Europe’s position in the global lithium supply chain.

  • Poland’s Silesia seeks a “just transition” as coal industry enters irreversible decline

    Poland’s Silesia seeks a “just transition” as coal industry enters irreversible decline

    Poland’s coal heartland of Silesia is confronting the end of an industry that has shaped its economy and identity for centuries, as regional authorities, economists and labor unions work to manage a gradual transition away from coal. The region remains the European Union’s largest coal-mining area, but mine closures are accelerating as climate targets tighten and alternative energy sources expand.

    At the center of the transition effort is a long-term plan designed to phase out coal while cushioning the social and economic impact on workers and communities. Developed over the past five years by economists, trade unions and government officials, the strategy sets 2049 as the final deadline for coal operations in Poland, significantly later than in many other EU states. The plan includes retraining programs, severance payments and early retirement options aimed at preventing mass unemployment and social collapse in mining towns.

    The stakes are particularly high in cities such as Bytom, where coal remains deeply embedded in the local economy and poverty and depopulation have intensified as mines close. By contrast, Katowice, the regional capital, has attracted new industries in manufacturing, technology and services, highlighting a widening economic divide within Silesia. Since 2005, the region has lost about 55,000 mining jobs, but gained roughly 160,000 positions in other sectors, underscoring the uneven nature of the transformation.

    Poland’s cautious approach reflects both historical experience and energy security concerns. Reliance on coal has long been seen as a buffer against dependence on foreign fuel supplies, particularly from Russia. However, rising electricity demand, EU emissions rules and the rapid growth of renewables, nuclear and alternative heating technologies are making the coal phaseout unavoidable.

    Regional planners argue that slowing the transition allows the broader economy to absorb displaced workers and generate new employment. Proposals under discussion include deeper integration of Silesia’s cities into a single metropolitan area to reduce inequality and attract investment, rather than allowing struggling towns to hollow out.

    While resistance remains among miners and local communities, many acknowledge that the debate has shifted from whether coal will end to how the region can exit the industry with the least social damage. Silesia’s transition is now being closely watched as a potential model for other coal-dependent regions in Central and Eastern Europe.

  • Ukrainian mining and steel sectors face weaker outlook than broader industry

    Ukrainian mining and steel sectors face weaker outlook than broader industry

    Ukraine’s mining and metallurgical industries are experiencing a more difficult economic situation than the country’s industrial sector on average, according to conjunctural assessments for November 2025. The balance of responses assessing current order volumes stood at minus 53% in metal ore mining and minus 46% in metallurgy, compared with minus 36% for industry as a whole, indicating a stronger prevalence of negative sentiment in these sectors.

    Despite the downturn, companies in mining and steel did not expect major changes in production volumes over the following three months. However, guaranteed capacity utilization continues to decline. Since the beginning of 2025, the order backlog at steel enterprises has fallen from 2.5 months to 1.9 months, while in metal ore mining it dropped from 3.2 months to 1.8 months. By contrast, the average backlog across Ukrainian industry in November exceeded four months.

    Labor market expectations also point to mounting pressure. In November, the balance of responses on expected employment changes over the next three months was minus 53% in metal ore mining, compared with minus 11% in metallurgy and minus 7% across industry, signaling a high risk of workforce reductions in the mining segment.

    Investment expectations mirror this trend. The balance of responses regarding future investment was minus 20% in metal ore mining and minus 5% in metallurgy, both well below the industry-wide average of 4%, suggesting weaker investment prospects for 2026.

    Industry representatives cite several factors behind the deterioration, including declining global raw material prices, high electricity tariffs that have already forced some operations to suspend activity, and reduced output at Ferrexpo linked to delayed VAT reimbursements.

    Under wartime conditions, mining and steel companies are prioritizing the maintenance of existing production capacities rather than expansion. With steel prices remaining low on global markets, companies report limited financial capacity for long-term investment, while surveys show that even medium-term business planning has become increasingly difficult.

  • Đilas claims Rio Tinto preparing €1–1.5 billion compensation claim against Serbia over Jadar lithium project

    Đilas claims Rio Tinto preparing €1–1.5 billion compensation claim against Serbia over Jadar lithium project

    Rio Tinto is preparing to file a compensation claim against the Republic of Serbia worth between €1 billion and €1.5 billion over the halted lithium mining project in the Jadar Valley, according to Dragan Đilas, president of the opposition Freedom and Justice Party.

    Speaking on the podcast Dežurni krivac, Đilas said the mining company intends to sue Serbia for costs incurred and lost profits after the government abandoned plans for lithium extraction. He argued that commitments made by senior state officials, including President Aleksandar Vučić and former Prime Minister Ana Brnabić, form the basis of the claim.

    Đilas stated that Rio Tinto allegedly received both written and verbal assurances regarding the project’s implementation, stressing that verbal agreements are legally binding in the same way as written ones. According to him, the public is still unaware of the exact guarantees provided by state leadership, which allowed the company to begin exploration, planning, and investment activities.

    He further claimed that once the lawsuit is formally announced, the authorities will shift responsibility onto citizens who protested against lithium mining. Đilas rejected this narrative, saying public opposition was clear, with more than 80% of citizens reportedly against the project.

    The opposition leader accused the country’s leadership of exceeding their authority and violating laws by promising lithium production to international partners, only to later withdraw those commitments. He warned that Serbia could ultimately bear the financial consequences, potentially amounting to hundreds of millions or even more than a billion euros.

    Đilas concluded that the situation reflects broader political risks, arguing that unfulfilled promises to foreign partners could result in additional financial claims against the state in the future.

  • Kazakhstani university wins first-ever Horizon Europe project and joins EU critical minerals initiative

    Kazakhstani university wins first-ever Horizon Europe project and joins EU critical minerals initiative

    Kazakhstan’s higher education and research sector has reached a landmark milestone after a domestic university secured its first victory in a competitive call under Horizon Europe, the European Union’s flagship research and innovation programme. East Kazakhstan Technical University (EKTU) has become a full partner in the international TiBeRIUM project, marking an unprecedented step for Kazakhstani universities in EU-funded research cooperation.

    TiBeRIUM (Titanium and Beryllium for European Resilience and Innovative Utilization of Minerals) is coordinated by TU Bergakademie Freiberg in Germany and brings together a consortium of 25 partners from 12 countries, including Germany, Greece, Cyprus, the United Kingdom, Norway, Spain, Poland, Belgium, Bulgaria, Finland, Kazakhstan, and Uzbekistan. The project focuses on building sustainable supply chains for critical raw materials and advancing environmentally friendly technologies for the processing of titanium and beryllium. Its total budget is estimated at around €8 million.

    Kazakhstan is represented in the project by EKTU, Tenir Group LLP, and Ulba Metallurgical Plant JSC. According to the university, EKTU’s participation is the result of long-term, systematic efforts by its research teams. During the proposal preparation phase between May and September 2025, EKTU specialists held 18 formal coordination meetings, alongside dozens of technical sessions covering scientific pathways, industrial case studies, environmental impact, and data management. The process also included extensive consultations with industrial partners and in-person international meetings in Germany and Uzbekistan.

    As a result, EKTU joined TiBeRIUM as a full-fledged partner, with responsibilities considered strategically important for achieving the project’s objectives. University representatives noted that this outcome reflects the strength of EKTU’s research infrastructure, scientific management, and professional expertise.

    The achievement was also attributed to sustained support from the Ministry of Science and Higher Education of the Republic of Kazakhstan, which has been investing in the development of national research capacity. Project participants emphasized that participation in Horizon Europe is not an endpoint, but the beginning of a new phase in which Kazakhstani science and engineering aim to play a more active role in developing technologies, strengthening human capital, and contributing to global value chains in critical minerals.

  • RG Gold enters new growth phase after Zijin Mining acquisition and outlines major expansion plans

    RG Gold enters new growth phase after Zijin Mining acquisition and outlines major expansion plans

    Kazakhstan’s gold miner RG Gold has described 2025 as a turning point in its development following the acquisition of the Raygorodok deposit in Akmola region by global mining major Zijin Mining Group. The deal, valued at more than $1 billion, transferred 100% ownership of the asset to Zijin and marked one of the largest transactions in the country’s mining sector in recent years.

    According to the company, the entry of a new shareholder has provided access to international technologies, management standards and long-term strategic capital, while significantly raising the scale of future ambitions. RG Gold plans to invest around $500 million in the construction of a new processing plant, which would increase ore processing capacity by an additional 10 million tonnes per year. This would lift total annual throughput to more than 16 million tonnes.

    In 2025, RG Gold delivered record operating results, processing 6.5 million tonnes of ore and producing nearly 6.5 tonnes of gold. Metallurgical recovery at the processing plant exceeded 87%. The company emphasized that these results were achieved while maintaining high safety standards and protecting employee health.

    The Raygorodok deposit, first explored in the mid-1990s, remains one of Kazakhstan’s largest gold mining projects. Despite relatively low gold grades, the ore is considered easily recoverable, ensuring economic sustainability. Investments in exploration have significantly expanded reserves, while the launch of a CIP-based processing plant in 2022 boosted production efficiency. The mine’s operating life is currently projected to extend to at least 2040, even with higher processing volumes.

    Looking ahead, 2026 is expected to become a key investment year, with construction of the new processing facility forming the core project. RG Gold estimates that the expansion will create more than 1,000 new jobs and deliver broader socio-economic benefits for the region.

    Environmental management and workplace safety remain central to the company’s strategy. In 2025, RG Gold completed preparatory work for ISO 14001 certification, invested in environmental training, launched biodiversity research projects and carried out large-scale land restoration, including planting 100,000 pine seedlings. Safety initiatives introduced during the year contributed to a 38% reduction in workplace incidents.

    Company executives said that integration into Zijin Mining Group opens new opportunities for staff development, knowledge exchange and the adoption of global best practices. Over the next three to five years, RG Gold’s strategy will focus on efficiency improvements, production growth, resource base development and strengthened ESG performance, positioning the company as a benchmark for sustainable gold mining in Kazakhstan.

  • Battery storage boom lifts lithium demand outlook for 2026 despite lingering oversupply risks

    Battery storage boom lifts lithium demand outlook for 2026 despite lingering oversupply risks

    Rapid growth in battery energy storage is strengthening the outlook for lithium demand in 2026, raising expectations of a faster recovery for an industry that has struggled with oversupply since late 2022. Analysts say reforms in China’s power sector and surging global investment in data centres have driven stronger-than-expected demand for lithium used in stationary storage systems.

    China’s energy storage market expanded sharply in the second half of 2025, supported by policy changes and rising power system needs. According to analysts, demand growth from energy storage has already exceeded earlier forecasts, helping to offset weaker momentum in electric vehicle sales. Battery storage systems have become China’s most valuable clean-tech export, generating nearly $66 billion in sales in the first ten months of 2025, ahead of EV exports.

    Major banks now expect a tightening lithium market next year. Morgan Stanley forecasts a deficit of 80,000 tonnes of lithium carbonate equivalent (LCE) in 2026, while UBS projects a smaller shortfall of 22,000 tonnes, compared with a surplus of 61,000 tonnes expected in 2025. Global lithium demand is projected to grow by 17% to 30% in 2026, broadly in line with supply growth of 19% to 34%, according to analysts.

    Prices rebounded sharply in the second half of 2025 after hitting multi-year lows earlier in the year, aided by Beijing’s pledge to rein in overcapacity and a temporary production halt at a major Chinese mine operated by CATL. Lithium carbonate prices on the Guangzhou Futures Exchange rose to their highest level since November 2023 by the end of December. Analysts expect prices to range between 80,000 and 200,000 yuan per tonne in 2026.

    Energy storage is forecast to account for 31% of total lithium demand next year, up from 23% in 2025, gradually reducing the dominance of electric vehicle batteries. However, analysts caution that faster adoption of sodium-ion batteries for storage and a slowdown in EV sales could cap demand growth and limit further price increases.