MINEX Forum

Website: Eurasia.com

  • Tajikistan highlights key mining contracts and projects announced over the past year

    Tajikistan highlights key mining contracts and projects announced over the past year

    The past year was marked for Tajikistan’s extractive industry not by major new discoveries, but by a series of significant contracts and project announcements shaping development plans for the coming years. Several large initiatives across antimony, iron ore, gold, coal and lithium were either launched or confirmed.

    In July 2025, construction began on a mining and processing plant at the Pakhandara antimony deposit in the Sughd region, located at an altitude of about 3,000 meters above sea level. The project is scheduled for completion by 2027. The license for both open-pit and underground mining is held by Pakhandara Mining, while HKSkyline Development Limited is acting as the contractor. Once operational, the plant is expected to process more than 150,000 tonnes of ore annually and produce around 5,000 tonnes of antimony.

    The same month also saw the commissioning of several other facilities, including a new antimony processing plant operated by ARB Minerals Group, the second phase of the TVEA Dushanbe gold mining enterprise, and the Angishti Takht coal beneficiation plant.

    In December, the Tajik Metallurgical Plant signed an agreement with the government to build an iron ore mining and processing facility, using deposits located in the Sughd region as its raw material base. The first phase of the project is set to be launched in 2027, with the second phase planned for 2031. The design capacity of the complex is 2.5 million tonnes of ore and 1.1 million tonnes of iron ore concentrate per year.

    At the International Mining and Metallurgical Forum of Tajikistan held in Dushanbe in December, officials also announced the construction of a lithium plant in the country, although further details of the project have not yet been disclosed. During the same event, it was stated that around 800 prospective mineral deposits have been identified nationwide, while just over 100 sites covering 50 types of mineral raw materials are currently involved in active development.

  • Kazakhstan outlines major mining and metallurgical projects planned for the coming year

    Kazakhstan outlines major mining and metallurgical projects planned for the coming year

    After reviewing the mining and metallurgical facilities launched across the country last year, Kazakhstan is now turning its attention to key sector development plans for the year ahead. Several large-scale projects are set to move forward, spanning titanium, zirconium, polymetals and copper production.

    In 2026, the Obukhov Mining and Processing Plant in the North Kazakhstan region is scheduled to be relaunched at the Obukhov titanium-zirconium deposit. Rare Metals Kazakhstan plans to mine up to 800,000 tonnes of ore annually and produce around 30,000 tonnes of rutile-zirconium concentrate and ilmenite. Most of the output will be exported to China, which dominates global production and consumption of rare and rare-earth metals.

    Another project involving the resumption of mining is underway in the Kyzylorda region, where development of the Shalkiya polymetallic deposit will continue. The asset belongs to a subsidiary of Tau-Ken Samruk. The concentrator is designed to process up to 4 million tonnes of ore per year, with total investments in the non-ferrous metals project estimated at 323 billion tenge.

    In addition, a hydrometallurgical plant is expected to open in the Pavlodar region next year. Fonet Er-Tai Mining plans to produce cathode copper using raw materials from the Kodzhanchad group of deposits. The facility will have an annual capacity of 5,000 tonnes, with investments totaling 9.4 billion tenge.

    Another major development is the launch of a mining and processing plant at the Koksai deposit in the Zhetysu region. Construction is being carried out by the Consolidated Construction Mining Company, a subsidiary of Kazakhmys. The project предусматривает annual production of up to 50 million tonnes of copper ore. In addition to copper, the deposit contains silver and gold, with total ore reserves exceeding 823 million tonnes. Total capital expenditures for the project reached 976 billion tenge.

  • Kyrgyzstan reviews major mining projects launched over the past year

    Kyrgyzstan reviews major mining projects launched over the past year

    At the start of the new year, Kyrgyzstan is taking stock of major mining projects implemented by domestic companies over the past period. One of the most significant developments came in August, when Kumtor Gold Company, one of the country’s largest subsoil users, launched underground gold mining at the Kumtor deposit in the Issyk-Kul region.

    At the same time, 147 tonnes of gold were added to the company’s balance sheet, providing enough reserves for 17 years of underground operations, which are being carried out alongside open-pit mining. Overall, the Kumtor mine is expected to remain in operation for at least another 40–50 years. The underground project is designed to minimize waste rock extraction and reduce environmental impact, including protecting local glaciers.

    Last year, Kumtor Gold Company also began processing tailings from the Kumtor tailings storage facility, expanding resource utilization. In August, several other mining enterprises were launched, including the Shah Tal gold mine in the Naryn region and the Kozho Kelen and Besh-Burkhan coal mines in the Osh region.

    In October, Kyrgyzgeology obtained a license to develop the Nasonovskoye polymetallic deposit in the Chui region, which is estimated to contain 751,000 tonnes of ore, 5.6 tonnes of gold and 4,600 tonnes of copper.

    Projects related to strategically important metals have received less public attention, though local media reported that a Kyrgyz-Chinese company for rare metals development was registered in April. At the INFOCM 2025 international forum on critical minerals in May, a representative of the Ministry of Natural Resources said Kyrgyzstan has 11 rare earth deposits, with Kutessay II among the largest, holding reserves of 63,300 tonnes.

  • Unexpected bid intensifies battle for control of Eurasian Resources Group

    Unexpected bid intensifies battle for control of Eurasian Resources Group

    A new twist has emerged in Kazakhstan’s mining sector after businessman Shahmurat Mutalip put forward an offer to acquire a 40% stake in Eurasian Resources Group (ERG), entering a prolonged shareholder dispute and challenging the position of the company’s chief executive, Shukhrat Ibragimov. According to the Financial Times, Mutalip has reached a preliminary agreement with the families of ERG co-founders Patokh Shodiev and the late Alexander Mashkevich to purchase their combined holdings for $1.4 billion, subject to the Ibrahimov family waiving its right of first refusal.

    ERG was founded in the 1990s on the basis of former state-owned mining assets and later became one of the most prominent post-Soviet companies to list in London. Today, ownership is split between the three founding families, each holding about 20%, and the government of Kazakhstan, which controls the remaining 40%. The talks are taking place amid rising international competition for metals critical to clean energy, artificial intelligence and industrial infrastructure, increasing the strategic value of ERG’s assets.

    Mutalip’s move has surprised the market, given his limited background in mining and his career roots in construction. His recent interest in large-scale resource assets, including a reported bid for a controlling stake in Kazzinc, has raised questions about financing and long-term strategy. At the same time, ERG continues to face financial pressure due to its reliance on loans from Russian state banks under Western sanctions, adding further uncertainty to the outcome of the ownership battle.

  • Kazakhstan Reports Significant Increase in Mineral Reserves Following Exploration Work

    Kazakhstan Reports Significant Increase in Mineral Reserves Following Exploration Work

    Kazakhstan has recorded a substantial increase in mineral reserves following recent geological exploration, Vice Minister of Industry and Construction Iran Sharkhan said at a government press conference on December 18. According to him, newly identified reserves include about 98 tons of gold, 36000 tons of copper, and more than 1.3 million tons of phosphorites.

    As a result of the exploration campaign, five new deposits have been placed on the state register for the first time. These include Kok-Zhon, Altyn-Shoko, Samombet, Studenchesky, and Takyr-Kaldzhir.

    Sharkhan said Kazakhstan continues to expand the scope of its geological and geophysical surveys. More than 2 million square kilometers of territory have already been studied, with this figure expected to rise to 2.2 million square kilometers by 2026. He also noted that a promising area containing rare earth metals has been identified in the Karaganda region.

    To support further exploration, the government has allocated 240 million tenge from its reserve to develop project documentation for a transition to detailed geological studies at a scale of 1:50 000. According to the Ministry of Industry, this new approach will make it possible to identify prospective areas at earlier stages of exploration.

    Between 2026 and 2028, detailed geological studies are planned across 100000 square kilometers. The work will be carried out by a consortium involving the National Geological Service and leading research institutes, using aerogeophysical technologies. The vice minister said these methods are expected to significantly improve the efficiency of geological exploration.

  • Kazakhstan Reports Steady Growth in Manufacturing Sector Over 11 Months

    Kazakhstan Reports Steady Growth in Manufacturing Sector Over 11 Months

    Kazakhstan’s manufacturing industry has shown sustained growth over the first 11 months of the year, with output rising by a combined 5.9%, Vice Minister of Industry and Construction Olzhas Saparbekov said at a government meeting on December 17 2025, according to Zakon.kz.

    Saparbekov noted that positive dynamics were recorded across key manufacturing segments, including metallurgy, mechanical engineering, the chemical industry, construction materials, and light industry. In metallurgy, production volumes increased by 1.1%, supported by higher output of gold, copper, steel, and pig iron.

    The vice minister said the overall improvement is largely the result of measures aimed at increasing utilization of domestic production capacities and strengthening raw material supplies for processing enterprises.

    Mechanical engineering posted particularly strong growth, with output up 11.6%. The increase was driven by higher production of transport vehicles, agricultural and railway machinery, as well as various types of equipment and household appliances.

    Earlier, Deputy Prime Minister and Minister of National Economy Serik Zhumangarin reported that Kazakhstan’s economy expanded by 6.4% in January–November. Growth in the real sector reached 8.3%, outpacing the services sector, which grew by 5.3% over the same period.

  • China Lithium Prices Surge After Yichun Plans to Revoke Mining Licences

    China Lithium Prices Surge After Yichun Plans to Revoke Mining Licences

    Lithium prices in China jumped sharply after authorities in the country’s main lithium-producing hub announced plans to revoke dozens of mining licences, triggering investor concerns about future supply.

    The most actively traded lithium carbonate contract on the Guangzhou Futures Exchange rose to 109860 yuan per metric ton on Wednesday, its highest level since June 2024, before closing up 7.61% at 108620 yuan.

    The Bureau of Natural Resources of Yichun, a major lithium center in Jiangxi province, said it intends to cancel 27 mining permits following a public consultation period that will end on January 22. The announcement was published on the bureau’s official website on Friday.

    According to the published list, all of the licences have already expired, with some dating back more than a decade. Most were originally issued for ceramic clay or limestone mining. One permit related to a lithium-bearing ceramic stone mine was held by Jiangxi Special Electric Motor, which said it has filed an objection with local authorities. The permit expired on September 15 2024.

    Analysts at Galaxy Futures said the licence revocations are unlikely to have a direct impact on current lithium supply, as none of the affected permits cover operating mines. Nevertheless, the announcement heightened market anxiety about longer-term availability, pushing lithium carbonate prices higher.

    The move is part of a broader clean-up of mining licences in Yichun that began in September. The bureau previously revoked six permits on November 27. Lithium prices have been rising since August, after CATL suspended mining at its Jianxiawo site following the expiry of its mining licence, with strong demand from the energy storage sector providing additional support.

  • BHP Faces £189 Million Legal Cost Claim After UK Court Ruling on Mariana Dam Disaster

    BHP Faces £189 Million Legal Cost Claim After UK Court Ruling on Mariana Dam Disaster

    BHP is facing a demand for at least £189 million in legal costs after a UK court ruled last month that the mining giant was liable for Brazil’s 2015 Mariana dam collapse, the country’s worst environmental disaster, which killed 19 people.

    Lawyers representing victims told the High Court in London on Wednesday that they were the clear overall winners in the November liability ruling and that BHP should be required to make an immediate interim payment toward costs. According to the Financial Times, the claim ranks among the largest legal cost demands in British history.

    The requested amount includes legal fees as well as about £44 million spent on walk-in centres and call centre operations used to communicate with roughly 620000 affected people. The court has already determined that BHP must pay at least part of the costs immediately following the liability decision.

    A second trial is scheduled for October 2026 to assess damages related to a £36 billion claim, which is believed to be the largest ever brought before an English court. BHP is seeking permission to appeal the liability ruling and has described the scale of the cost demand as excessive.

    In written submissions, BHP’s lawyers argued that the claimants failed to properly justify the breakdown of their costs and asked the court to exclude substantial portions of the claim. They also rejected as unreasonable a request for an interim payment of 60%, or about £113 million, before a final ruling on costs.

    The case has attracted close attention within the legal sector, particularly after tensions emerged between the claimants’ law firm, Pogust Goodhead, and its litigation funder late in the proceedings. BHP has argued that the firm’s funders spent large sums without sufficient regard for proportionality, a factor it says is reflected in the scale of the cost claim.

    BHP is also urging the court to delay any decision on costs until after the damages phase, maintaining that overall success cannot yet be determined because liability has only been established in principle. The dispute echoes a recent Australian ruling linked to the same dam collapse, where a court allowed law firms in a shareholder class action to significantly increase their share of settlement fees, raising broader concerns over transparency and oversight in large-scale litigation.

  • Kazakhstan’s Manufacturing Sector Records Strong Growth This Year

    Kazakhstan’s Manufacturing Sector Records Strong Growth This Year

    Kazakhstan’s manufacturing industry has demonstrated positive momentum this year, with production volumes rising by nearly 6%, according to Vice Minister of Industry and Construction Olzhas Saparbekov. The results were presented during a government meeting reviewing the country’s socio-economic development.

    Growth has been driven primarily by increased capacity at metallurgical, engineering, and chemical enterprises. Producers of construction materials have also delivered strong performance, contributing to the overall expansion of the sector.

    The engineering industry recorded one of the fastest growth rates, with output up 11.6%. Higher production was registered across several segments, including automobiles, railway and agricultural machinery, and household equipment.

    Metallurgical enterprises also increased output, producing higher volumes of gold, copper, pig iron, and steel. The chemical industry posted growth of 8.1%, while construction materials expanded by 14.7% and the light industry by 7.4%.

    Saparbekov said the growth in manufacturing is largely the result of state support measures aimed at domestic producers, including initiatives to increase the use of locally sourced raw materials and improve capacity utilization.

    Overall economic indicators also remained positive. Kazakhstan’s gross domestic product grew by 6.4% over the first 11 months of the year. The mining sector expanded by 9.7%, supported by higher oil production, which rose by 14.1%, gas output, up 16.7%, and coal mining, which increased by 9.7%.

  • Kazakhstan Senate Approves Subsoil Code Amendments to Digitize Geological Data and Expand Investor Incentives

    Kazakhstan Senate Approves Subsoil Code Amendments to Digitize Geological Data and Expand Investor Incentives

    Kazakhstan’s Senate on December 18 2025 approved amendments to the Code “On Subsoil and Subsoil Use,” according to a report by Zakon.kz. Senator Sagyndyk Lukpanov said the law is aimed at fulfilling presidential поручения on systematizing and digitizing the country’s geological information.

    The amendments закрепляют the Unified Subsoil Use Platform as the sector’s core digital infrastructure, featuring an open database of geological data. The platform is designed to cover nearly all business processes and government services related to exploration and extraction of solid minerals and common minerals. It will also be integrated with the Unified State System for Managing the Fuel and Energy Complex, which is used to collect, store, analyze, and process subsoil information in the hydrocarbons sector.

    The law also formally establishes the National Geological Service as the operator responsible for managing geological information. According to Lukpanov, the national operator will provide a centralized and standardized approach to monitoring the state subsoil fund, preventing duplication and fragmentation of data across institutions. The service, which is subordinate to the Geology Committee, will not be subject to privatization.

    Another major block of amendments introduces electronic auctions as a mechanism for granting subsoil use rights. Auctions will be used to allocate free subsoil plots as well as areas where subsoil use rights have been terminated. In addition, the amendments raise the required share of domestic content in works and services from 50% to 70% for exploration and mining operations, including uranium.

    The legislation also introduces a priority right for strategic investors to explore and mine solid minerals when implementing large industrial and innovation projects valued above 14.5 million MRP (over 50 billion tenge). Under the new rules, subsoil use rights for such projects may be granted outside the auction process, provided investors meet specified requirements.

    Further amendments regulate the granting of subsoil use rights for technogenic mineral formations located within populated areas. One licensing condition is the mandatory removal of extracted technogenic mineral materials beyond settlement boundaries, followed by processing. The law also confirms investment preferences for subsoil users implementing solid mineral processing projects, provisions already reflected in the new Tax Code. These incentives include exemptions from corporate income tax and land tax for 10 years, property tax for 8 years, and VAT on imported equipment for 5 years.

    For processing projects, the minimum investment threshold required to conclude a processing agreement will increase tenfold, from 7 million to 70 million MRP. The bill had previously been adopted by the Mazhilis in a second reading on November 19 as part of implementing presidential instructions.