MINEX Forum

Website: Eurasia.com

  • Savannah Resources Highlights Barroso Community as Heart of Europe’s Energy Transition

    Savannah Resources Highlights Barroso Community as Heart of Europe’s Energy Transition

    Savannah Resources has launched a new public messaging initiative framing Portugal’s Barroso region as central to Europe’s clean-energy future, emphasising cultural heritage and community participation as the company advances its controversial lithium project.

    In the campaign titled “The EU’s Energy Independence Starts in Barroso,” the company positions the region not just as a mining location, but as a living cultural landscape shaped by generations of agricultural tradition and collective resilience. Savannah says it aims to integrate the Barroso Lithium Project into this heritage by developing it “responsibly” and ensuring local communities see tangible long-term benefits.

    The company argues that Barroso’s identity, communal strength and deep connection to the land form the foundation of what it calls “The Energy of Barroso.” This concept draws on shared values — mutual support, tradition, and the hope of retaining younger generations — which Savannah says align with Europe’s push toward a more sustainable and independent energy system.

    According to the company, lithium produced in Barroso will contribute to the EU’s ambition of reducing dependence on imported critical minerals and speeding up the green transition. Savannah stresses that the project, once operational, will supply material for millions of European electric vehicles and support regional development.

    The initiative invites the public to follow upcoming stories and updates that showcase community voices and outline how the project is intended to blend cultural preservation with modern industrial progress.

  • GreenRoc Wins 30-Year Licence to Develop High-Grade Amitsoq Graphite Mine in Greenland

    GreenRoc Wins 30-Year Licence to Develop High-Grade Amitsoq Graphite Mine in Greenland

    GreenRoc Mining Plc has secured a 30-year exploitation licence for its Amitsoq graphite project in southern Greenland, clearing a major hurdle on the path to production. The approval, signed by Greenland’s Minister for Business and Mineral Resources Naaja Nathanielsen, marks the third long-term mining permit issued by the territory this year as it seeks to attract responsible investment while managing environmental and community concerns.

    CEO Stefan Bernstein called the licence a “very important milestone” for the company, underscoring the strategic role of graphite in the global energy transition and Europe’s need to establish secure supply chains. GreenRoc’s shares surged as much as 19% on the news, giving the explorer a market value of about £7.5 million.

    Amitsoq, located in the Nanortalik region, hosts one of the world’s highest-grade graphite deposits with a JORC resource of 23 million tonnes at 20.41% graphitic carbon, containing an estimated 4.71 million tonnes of graphite. The site includes a historic mine last operated in 1922. GreenRoc plans to fast-track development and expects annual production of about 80 000 tonnes of graphite concentrate once the mine is operational.

    Earlier this year, the project received “strategic” designation from the European Union for its potential to become a key supplier of graphite, now recognised as a critical raw material. Greenland’s mining sector, long constrained by strict regulations and limited financing, has seen momentum building amid renewed US and European interest in the Arctic territory’s natural resources. In October, GreenRoc secured a €5.2-million loan from Denmark’s export credit agency to support Amitsoq’s advancement.

    Alongside the graphite project, the company also holds ilmenite and iron assets in Greenland, positioning it as a growing player in the region’s critical minerals landscape.

  • Critical Metals Corp Strikes 50:50 JV with Romania’s FPCU to Build EU Rare Earth Processing Hub

    Critical Metals Corp Strikes 50:50 JV with Romania’s FPCU to Build EU Rare Earth Processing Hub

    European Lithium’s US-listed subsidiary, Critical Metals Corp (CRML), has signed a term sheet to form a 50:50 joint venture with Fabrica de Prelucrare a Concentratelor de Uraniu (FPCU), Romania’s state-owned strategic processor of mineral concentrates. The agreement marks one of Europe’s most significant moves yet to establish a Western-aligned rare earths processing base as the EU and NATO seek to reduce reliance on China.

    Under the deal, the JV will secure 50% of the offtake from Greenland’s Tanbreez rare earth project, lifting the total volume under long-term agreements with Western partners to 75%. The partners plan to design, finance and construct a rare earth refinery in Romania to convert Tanbreez concentrate into high-purity metals, salts and military-grade magnet products.

    CRML chair and CEO Tony Sage described the agreement as a “monumental game-changer”, arguing that the partnership positions Europe to claw back strategic independence in rare earths. The facility, he said, will underpin sectors ranging from defence to advanced manufacturing, supplying feedstock sourced entirely from Western-aligned jurisdictions. CRML will retain a 50% stake in the JV on a carried basis and will not contribute capital to construction.

    FPCU CEO Cosmin Ghiță called the initiative a core pillar of Romania’s emerging industrial strategy, aligning with its ten-year plan to modernise strategic materials production. The plant will be located at the Feldioara complex, a site with a long history of refining and hydrometallurgical operations.

    The term sheet also outlines CRML’s intention to upgrade Tanbreez concentrate grades by revising its processing flowsheet, potentially lifting TREO content above 3%. The enhancements will be incorporated into an updated feasibility study to be completed by the end of Q1 2026.

    The announcement comes as the European Commission rolls out up to €3.5 billion in financing to strengthen critical raw materials supply chains under its new Economic Security Strategy. CRML and the Romanian government plan to apply jointly for support under the funding package.

    The JV is expected to serve as a cornerstone of Europe’s rare earth supply chain, processing up to half of Tanbreez’s resource for downstream European industries. Once Tanbreez enters production, CRML will supply the Romanian plant for the life of the mine under competitive, market-based terms.

    Critical Metals Corp currently controls two key assets: the Tanbreez rare earth megadeposit in southern Greenland and the Wolfsberg lithium project in Austria, the first fully permitted lithium mine in Europe. Both are positioned to feed Western supply chains for electrification, defence, and high-tech industries.

  • MINEX Eurasia’25: Oxford-Led Innovation Eyes Central Asia’s Brines as Billion-Dollar Critical Mineral Sources

    MINEX Eurasia’25: Oxford-Led Innovation Eyes Central Asia’s Brines as Billion-Dollar Critical Mineral Sources

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    Groundbreaking research from the University of Oxford presented at the MINEX Eurasia conference unveiled a transformative vision for critical mineral supply, proposing that oilfield and geothermal brines – long considered waste products – could become highly profitable sources of elements essential for the global energy transition. The session, titled “Turning Brine into Value: Unlocking Central Asia’s Hidden Critical Minerals,” highlighted proven technologies ready for scale-up, with a particular focus on Central Asia’s immense untapped potential.

    Konstantin Nazarov, a DPhil researcher at the University of Oxford and lead presenter, set the stage by emphasizing that traditional hard-rock mining alone may struggle to meet the escalating global demand for critical minerals like lithium, rare earths, bromine, and gallium. “To meet 21st-century needs, we need new resource concepts and new extraction pathways,” Nazarov stated, introducing the Oxford Earth Program, an interdisciplinary initiative focused on rethinking critical mineral sourcing.

    The core concept revolves around “saline geofluids” – naturally occurring subsurface brines found in oil fields and geothermal systems. Nazarov detailed how these fluids, currently often disposed of as waste, are chemically enriched in high-value elements. He cited historical examples, like Arkansas becoming a major bromine exporter in the 1950s by extracting from oilfield brines, and modern operations in the Salton Sea (US) and Ohaka (New Zealand) producing critical minerals alongside power generation, often with revenue streams exceeding electricity sales.

    “Preliminary estimations derived from open-source data showcase strategic resources of crucial minerals and extremely large revenue rates,” Nazarov explained, projecting an annual metal flux from American geothermal and oilfield brines translating to per year. He positioned Central Asia as uniquely poised to leverage this innovation. “Kazakhstan alone holds over 40,000 wells and an extensive reinjection network… its Paleozoic and Mesozoic basins contain highly saline fluids enriched in bromine, iodine, lithium, strontium, and potentially rare earth metals.” Uzbekistan, Turkmenistan, Kyrgyzstan, and Tajikistan also hold significant potential.

    The session further showcased Oxford’s spin-out companies translating this research into real-world applications:

    Ascension Earth Resources, represented by Lead GeoAnalyst Michal Camejo, presented novel technologies to harness the unique metal endowment and geothermal energy of volcanic systems. Camejo detailed a “novel geothermal in-situ recovery process” to sustainably extract critical minerals, particularly heavy rare earth elements, from volcanic glass. This method aims to bypass environmentally damaging aspects of conventional mining by injecting proprietary solutions underground and pumping out metal-rich brines for processing, leveraging existing geothermal heat.
    Seloxium, with Chief Commercial Officer Richard Dixon, introduced their platform of water-soluble polymers for selective metal recovery from process streams. Dixon highlighted the technology’s speed, scalability, and robustness, capable of capturing metals like palladium, gold (at concentrations as low as ), and rare earths even in the presence of high impurities. Notably, Seloxium’s polymers can selectively extract uranium and thorium from rare earth streams, potentially simplifying processing and regulatory compliance. “We get some additional selectivity from know-how and some modifier additives, and we’re currently developing partnerships to validate this technology,” Dixon remarked, noting their pilot plant is already operating at TRL 8.

    However, the path to unlocking this value is not without hurdles. Metehan Ciftci, a Research Associate at the University of Oxford, addressed the legal and societal challenges, drawing lessons from his research on Montserrat in the West Indies. Ciftci highlighted “legal uncertainties” surrounding the definition of a mineral versus waste, ownership disputes (especially in decommissioned oil fields), and the need for “hybrid contractual models” to facilitate collaboration between energy and mining companies. He stressed that “even when the geology is promising, institutions, governance, and public trust… ultimately determine the project success,” underscoring concerns about procurement expertise and community engagement.

    Nazarov concluded by reiterating that two critical challenges face this nascent industry: the “industry’s reluctance” from oil and gas companies to consider the mineral endowment of their brines, and the “absence of expertise and frameworks from the policy-making side.” Despite these challenges, the overwhelming message was one of immense opportunity.

    “If embraced, Central Asia can position itself not just as a supplier, but as a global leader in the next generation of critical mineral production derived from brines,” Nazarov affirmed, painting a picture of a future where existing infrastructure can drive a low-impact, high-value, and environmentally responsible supply chain for the materials of the next Industrial Revolution.[/ohio_text][/vc_column][vc_column][/vc_column][/vc_row]

  • MINEX Eurasia’25: Waste-to-Value, Decarbonisation, and Digital Trust

    MINEX Eurasia’25: Waste-to-Value, Decarbonisation, and Digital Trust

    [vc_row][vc_column][vc_text_separator title=”5 SESSION BRIEF” color=”blue” border_width=”5″ css=””][vc_empty_space][vc_empty_space][vc_raw_html css=””]JTNDaWZyYW1lJTIwc3R5bGUlM0QlMjdkaXNwbGF5JTNBYmxvY2slM0JtYXJnaW4lM0FhdXRvJTNCd2lkdGglM0ExMjgwcHglM0JtYXgtd2lkdGglM0ExMDAlMjUlM0Jhc3BlY3QtcmF0aW8lM0ExLjc3MDg4MzA1NDg5MjYwMTMlM0IlMjclMjBzcmMlM0QlMjdodHRwcyUzQSUyRiUyRmtpbGxlcnBsYXllci5jb20lMkZ3YXRjaCUyRnZpZGVvJTJGMDdkYjk5MTItYzJmNy00OTQ1LTk0NjEtMzczZTkyODA2M2VhJTI3JTIwZnJhbWVib3JkZXIlM0QlMjIwJTIyJTIwYWxsb3clM0QlMjJhdXRvcGxheSUzQiUyMGd5cm9zY29wZSUzQiUyMHBpY3R1cmUtaW4tcGljdHVyZSUzQiUyMiUyMGFsbG93ZnVsbHNjcmVlbiUzRSUzQyUyRmlmcmFtZSUzRQ==[/vc_raw_html][vc_empty_space]Industry leaders gathered on 1 December 2025 at the MINEX Eurasia Conference in London for a discussion on balancing mineral extraction with environmental responsibility. The session, “Assessing and Mitigating Environmental Risks for Critical Raw Materials Development in Central Asia”, explored innovative solutions to the region’s pressing sustainability challenges.

    From Waste to Wealth: Kazakhstan’s Legislative Push

    Gulvira Shaimerdenova, Director of Government Relations at Kazakh mining firm Qarmet, revealed startling figures: 32 billion tonnes of industrial waste sit unused in Kazakhstan, with just 3.5% recycled annually. She outlined upcoming legislative reforms—expected to pass this month—that will incentivize $500 million in waste-processing projects by major players like Qarmet and Kazakhmys.

    “By reclassifying certain mining wastes as secondary raw materials, we can unlock new revenue streams while cleaning up legacy sites,” Shaimerdenova said.

    The Decarbonisation Dilemma

    Bob Robinson of SLR Consulting challenged the notion that miners only act on sustainability when forced. “Cost savings and market pressures are now just as compelling as regulations,” he argued, citing a 10-year efficiency program that saved a global miner $14 million per year.

    He highlighted renewable energy integration and carbon capture as key opportunities but stressed that internal carbon pricing is essential to prioritise green investments.

    Blockchain for Cleaner Supply Chains

    With the EU’s Carbon Border Adjustment Mechanism (CBAM) tightening import rules, Agata Slater of The Hashgraph Group pitched digital product passports as the future of mineral traceability. Her firm’s EcoGuard platform uses blockchain to create immutable records of a resource’s ESG footprint—a system already being tested by a green ammonia producer in Africa.

    “Buyers increasingly demand verified low-carbon materials,” Slater noted. “This isn’t just about compliance—it’s about premium pricing and market access.”

    Case Study: Central Asia Metals’ Balanced Approach

    Megan Farrell of Central Asia Metals showcased their Kazakhstan copper operation, where in-situ leaching of waste dumps reduces emissions by avoiding traditional mining methods. A 4.7 MW solar farm covers 14% of energy needs, though winter reliance on coal boilers persists.

    “In regions with legacy pollution, baseline environmental data is everything,” Farrell emphasised, detailing collaborations with Kazakh regulators to set cleanup benchmarks.

    The Road Ahead

    The session concluded with consensus on three priorities for Central Asia’s mining sector:

    1. Policy reforms to accelerate waste reuse and decarbonisation
    2. Digital systems to prove sustainability claims
    3. Transparent partnerships between industry and governments

    As global demand for critical minerals surges, the region’s ability to marry resource development with environmental stewardship will determine its role in the clean energy transition.

  • MINEX Eurasia’25: Beyond Rare Earths: The Next Frontier in Strategic Materials

    MINEX Eurasia’25: Beyond Rare Earths: The Next Frontier in Strategic Materials

    [vc_row][vc_column][vc_text_separator title=”FIRESIDE CHAT WITH AEGION’s CEO” color=”blue” border_width=”5″ css=””][vc_empty_space][vc_empty_space][vc_raw_html css=””]JTNDaWZyYW1lJTIwc3R5bGUlM0QlMjdkaXNwbGF5JTNBYmxvY2slM0JtYXJnaW4lM0FhdXRvJTNCd2lkdGglM0ExMjgwcHglM0JtYXgtd2lkdGglM0ExMDAlMjUlM0Jhc3BlY3QtcmF0aW8lM0ExLjc3MDg4MzA1NDg5MjYwMTMlM0IlMjclMjBzcmMlM0QlMjdodHRwcyUzQSUyRiUyRmtpbGxlcnBsYXllci5jb20lMkZ3YXRjaCUyRnZpZGVvJTJGYTc5YmE0MmMtZjFlMC00NjUxLWI1ZGMtY2U1NWM2NGMyNGI3JTI3JTIwZnJhbWVib3JkZXIlM0QlMjIwJTIyJTIwYWxsb3clM0QlMjJhdXRvcGxheSUzQiUyMGd5cm9zY29wZSUzQiUyMHBpY3R1cmUtaW4tcGljdHVyZSUzQiUyMiUyMGFsbG93ZnVsbHNjcmVlbiUzRSUzQyUyRmlmcmFtZSUzRQ==[/vc_raw_html][vc_empty_space]As the world transitions to clean energy and advanced manufacturing, securing critical materials beyond rare earths has become a pressing concern. On 1 December at the 13th MINEX Eurasia Conference in London, Samridhi Shoor, CEO & Director of Aegion, an advanced materials company, led a fireside chat on this critical topic.

    The fireside chat focused on the importance of securing critical materials beyond rare earths as industries transition to clean energy and advanced manufacturing. Samridhi Shoor, CEO & Director of Aegion, an advanced materials company, discussed next-generation materials like graphene-based composites and high entropy alloys, and how they redefine supply chains.

    Shoor emphasised the need for strategic independence and innovation in the material ecosystem. Aegion has been working on substitution and recycling, aiming to make critical materials non-critical by developing abundant chemistries. They have been utilising elements like iron, nitrogen, and aluminium as replacements for rare earth minerals.

    Shoor highlighted the challenges of mining, including environmental concerns and geopolitical supply chain risks. However, he emphasised that the market is moving towards iron, manganese, and aluminium as replacements for critical minerals like cobalt.

    Aegion has been diversifying its supply chain and has initiated discussions with potential partners. Shoor stated that the company is open to sharing its research and innovations with the community, aiming to benefit the industry at large.

    The conversation touched on various topics, including:

    • The importance of abundant chemistries and their potential to replace rare earth minerals
    • The challenges of mining and the need for sustainable and responsible practices
    • The role of recycling and substitution in reducing dependence on critical minerals
    • Aegion’s initiatives in developing new super alloys and recycling mandates
    • The EU Act on critical minerals and the need for diversified supply chains

    Key Takeaways:

    • The transition to clean energy and advanced manufacturing requires securing critical materials beyond rare earths.
    • Aegion is working on substitution and recycling to make critical materials non-critical.
    • The market is moving towards iron, manganese, and aluminium as replacements for critical minerals like cobalt.
    • Aegion is open to sharing its research and innovations with the community to benefit the industry at large.
    • The EU Act on critical minerals and the need for diversified supply chains are critical factors in the industry’s future.
  • MINEX Eurasia’25: Kazakhstan Mining Outlook 2026

    MINEX Eurasia’25: Kazakhstan Mining Outlook 2026

    [vc_row][vc_column][vc_text_separator title=”4 SESSION BRIEF” color=”blue” border_width=”5″ css=””][vc_empty_space][vc_empty_space][vc_raw_html css=””]JTNDaWZyYW1lJTIwc3R5bGUlM0QlMjdkaXNwbGF5JTNBYmxvY2slM0JtYXJnaW4lM0FhdXRvJTNCd2lkdGglM0ExMjgwcHglM0JtYXgtd2lkdGglM0ExMDAlMjUlM0Jhc3BlY3QtcmF0aW8lM0ExLjc3MDg4MzA1NDg5MjYwMTMlM0IlMjclMjBzcmMlM0QlMjdodHRwcyUzQSUyRiUyRmtpbGxlcnBsYXllci5jb20lMkZ3YXRjaCUyRnZpZGVvJTJGMmRiNDQzNjQtZTkwZS00ZGU4LWJlNGItYzFmODM1YmZhMzk3JTI3JTIwZnJhbWVib3JkZXIlM0QlMjIwJTIyJTIwYWxsb3clM0QlMjJhdXRvcGxheSUzQiUyMGd5cm9zY29wZSUzQiUyMHBpY3R1cmUtaW4tcGljdHVyZSUzQiUyMiUyMGFsbG93ZnVsbHNjcmVlbiUzRSUzQyUyRmlmcmFtZSUzRQ==[/vc_raw_html][vc_empty_space]At the MINEX Eurasia conference on 1 December in London, industry leaders and government officials painted a picture of Kazakhstan undergoing profound transformation-one driven by comprehensive regulatory reform, unprecedented foreign investment, and the nation’s emergence as a critical player in global supply chains for strategic minerals.

    The session, titled “Kazakhstan Mining Outlook 2026: Reform, Resources and the Road to Value Creation,” brought together mining executives, government representatives, and investment professionals to discuss how the Central Asian nation is positioning itself as a vital alternative source for critical minerals amid shifting geopolitical dynamics.

    Regulatory Overhaul Creates Investment Momentum

    Kazakhstan has embarked on an ambitious restructuring of its mining regulatory framework, with changes that speakers at the London conference described as the most significant in decades. The reforms include opening the entire territory for subsoil use rights, strengthening penalties for illegal mining, and implementing a comprehensive geological mapping program covering hundreds of thousands of square kilometres.

    “Kazakhstan has adopted a new tax code which will come into force on 1st January 2026,” explained Maxim Kononov, First Deputy Executive Director of the Association of Mining and Metallurgical Enterprises of Kazakhstan. The changes include a transition to a royalty-based system for greenfield projects, with rates differentiated by processing level-starting at 13% for ore, 10% for concentrates, and 7% for processed metals.

    Ruslan Baimishev, President of the Kazakhstan Chamber of Mines, acknowledged both progress and ongoing challenges. “Our main victory was holding off discussions on a bill initiated by Parliament members aimed at reversing the 2018 reform,” he told attendees, referring to efforts that would have returned the sector to Soviet-era regulatory methods. “The project has now been held, and this is a major victory for democratic Parliament.”

    However, Baimishev noted concerns about new provisions that could affect investment, including expanded government priority rights and increased thresholds for investment agreements—now raised tenfold to $500 million for processing projects.

    Environmental Compliance Becomes Material Cost Factor

    Nargiza Ospanova, Environmental Specialist with SRK Consulting (Kazakhstan), delivered a sobering assessment of how environmental regulations are fundamentally altering project economics. Kazakhstan’s 2021 Environmental Code requires companies to transition to Integrated Environmental Permits and implement Best Available Techniques-or face dramatically escalating pollution payments.

    “The peak of pollution payments comes during the main production period,” Ospanova warned, showing projections indicating that environmental costs could become one of the most significant operational expenses for mining operations. “Environmental, social and legal aspects have become highly material right now in Kazakhstan—much more than before.”

    The presentation highlighted that most pollution payments from mining companies stem from waste disposal, and that companies failing to adopt Best Available Techniques face fees that increase progressively after 2028, with particularly steep escalations for Category 1 facilities-Kazakhstan’s top 50 polluters.

    Major Projects Advance with International Backing

    Several significant mining developments presented at the conference illustrated Kazakhstan’s growing appeal to international investors:

    IG Asia’s Pribrezhniy Copper Project:

    Steven McRobbie, VP Projects Development for IG Asia, described the company’s acquisition of the copper porphyry deposit from Rio Tinto and subsequent advancement through preliminary economic assessment. Located 30 kilometres from Lake Balkhash, the project benefits from exceptional infrastructure including direct rail access and proximity to sulfuric acid supply at under $100 per tonne.

    “We’re looking at 150 million tons per year material movement in early years,” McRobbie said, describing scenarios ranging from fast-track oxide operations requiring $142 million in capital to combined oxide-sulphide operations with NPVs reaching $2.6 billion. The company has launched a 15,000-meter drilling program and is utilising AI to optimise drill spacing and reduce costs.

    Ivanhoe Mines’ Entry:

    Robert Barlow, Corporate Development Analyst at Ivanhoe Mines, talked about the company’s joint venture with Past Resources covering over 16,000 square kilometres-now the largest exploration land package in Kazakhstan. “We’ve launched a massive 17,500-kilometer drill program in our first year,” Barlow said, with potential spending of up to $115 million within four years.

    Ivanhoe, known for discovering and developing the massive Kamoa-Kakula copper complex in the Democratic Republic of Congo, sees similar potential in Kazakhstan’s sediment-hosted copper systems. “Almost everything that should be discovered at surface has been discovered,” Barlow noted. “The big opportunity lies under heavy cover.”

    U.S.-Kazakhstan Tungsten Deal Signals Strategic Realignment

    Perhaps the session’s most significant revelation concerned the recently announced joint venture between Cove Capital and Tau-Ken Samruk for Kazakhstan’s Northern Katpar and Upper Kayrakty tungsten projects-a deal facilitated by direct involvement from U.S. President Donald Trump and Kazakhstan’s President Kassym-Jomart Tokayev.

    Pini Althaus, Managing Partner of Cove Capital, called it “a generational project” containing over 10% of global tungsten reserves with capacity to produce 15% of annual global supply. “The U.S. has had no tungsten production since 2015,” Althaus explained via video link to the London conference. “Given the wide range of very critical uses that tungsten has in defence applications and industrial applications, this was perhaps the most urgent project the Trump administration has been working on.”

    The deal reflects what Althaus described as “unprecedented” U.S. government support for critical mineral projects, with direct financing assistance, offtake agreements, and price floors. “We’re seeing things that neither Democratic or Republican administrations have done in the past 30 or 40 years since China has essentially taken control of the critical minerals global supply chain.”

    Daniyar Idrissov, Chief Investments and Strategy Officer for Tau-Ken Samruk, emphasised during the panel discussion that the decision was driven by commercial considerations, particularly the secured offtake contract. “Having the supply is not the most critical thing,” Idrissov explained. “One of the most critical things for tungsten is to have the economics work…. This offtake contract will make the economics of the project work very successfully for both parties.”

    Technology and Innovation as Competitive Advantage

    Al-Farabi Ydyryshev, Director General of Kazakhstan’s National Center for Technology Foresight, outlined the country’s strategy for overcoming the challenge of generally lower-grade deposits compared to other mining jurisdictions. “One of the highest points in our agenda is to bring best available technology to Kazakhstan—to mine, to initiate, and to process,” he told the MINEX Eurasia audience.

    Ydyryshev described his organisation’s role as a “think tank” that navigates the complex world of critical minerals and creates recommendations for both government and industry, bridging solution providers with companies operating in Kazakhstan. The centre is building networks across North America, Europe, Asia, and even neighbouring countries like Uzbekistan to access specialised expertise in processing various metals.

    “We’re going to move to midstream and downstream to create maximum added value in Kazakhstan,” Ydyryshev said regarding the tungsten cluster development. “All these critical metals and minerals end up used in the West, in developed countries, in China—and I don’t see any contradiction that we’re going to have the most possible added value chain in Kazakhstan.”

    Outlook: Strategic Positioning in a Multipolar World

    The session concluded with a sense that Kazakhstan has reached an inflection point. The combination of regulatory reform, world-class mineral endowment, existing infrastructure, and geopolitical shifts favouring supply chain diversification has created what several speakers called a “perfect storm” of opportunity.

    “The outlook is only positive,” Idrissov summarised. “Kazakhstan is a very good place. Please come to Kazakhstan and invest. Our job is to attract investors and make the natural resources of Kazakhstan work-first of all for Kazakhstan people, but also as a mutually beneficial partnership for all partners.”

    The country’s “multi-vectoral” foreign policy approach—balancing relationships with China, Russia, the United States, and Europe-appears designed to avoid monopolistic control by any single power while maximising investment from all quarters. As Ydyryshev noted, “We have to secure no monopoly in mining and metallurgy in Kazakhstan. This approach would be similar for any metals.”

    With major international mining companies now actively exploring, junior companies advancing projects, and strategic partnerships forming at the highest levels of government, Kazakhstan’s mining sector appears poised for substantial growth. Whether the regulatory reforms prove durable and the promised infrastructure materializes will determine if the country can fulfil its ambition to become a global leader in critical mineral supply.

    For now, industry participants at the London conference seemed convinced that Kazakhstan represents one of the most significant mining opportunities in the Eurasian region—a jurisdiction where, as one speaker put it, “the economics work very good for very high, capital-intensive projects.”

     

    Shortly after the conference, the Ministry of Industry and Construction of Kazakhstan announced the results of the nationwide geological exploration programme, aiming to expand the area of mapped and studied subsoil from 2.1 million sq. km to 2.2 million sq. km by 2026. According to the Ministry of Industry and Construction, the push is already yielding significant results: exploration work completed in 2024 across 11 sites has led to the identification of promising new deposits of precious, rare and strategic metals.  Read more

  • MINEX Eurasia’25: Kyrgyzstan Unveils Critical Minerals Strategy at the MINEX Eurasia Conference

    MINEX Eurasia’25: Kyrgyzstan Unveils Critical Minerals Strategy at the MINEX Eurasia Conference

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width=”1/1″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_text_separator title=”KYRGYZSTAN’S GOVERNMENT KEYNOTE” color=”blue” border_width=”5″][/vc_column][/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overflow=”visible” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” 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column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1/2″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_empty_space][vc_raw_html]JTNDaWZyYW1lJTIwc3R5bGUlM0QlMjdkaXNwbGF5JTNBYmxvY2slM0JtYXJnaW4lM0FhdXRvJTNCd2lkdGglM0E3NDJweCUzQm1heC13aWR0aCUzQTEwMCUyNSUzQmFzcGVjdC1yYXRpbyUzQTEuNzcwODgzMDU0ODkyNjAxMyUzQiUyNyUyMHNyYyUzRCUyN2h0dHBzJTNBJTJGJTJGa2lsbGVycGxheWVyLmNvbSUyRndhdGNoJTJGdmlkZW8lMkYyNjUwZjMyNy0xM2MzLTRiYmUtOTQwNy0zNWQ3ZDQxMDFjNWMlMjclMjBmcmFtZWJvcmRlciUzRCUyMjAlMjIlMjBhbGxvdyUzRCUyMmF1dG9wbGF5JTNCJTIwZ3lyb3Njb3BlJTNCJTIwcGljdHVyZS1pbi1waWN0dXJlJTNCJTIyJTIwYWxsb3dmdWxsc2NyZWVuJTNFJTNDJTJGaWZyYW1lJTNF[/vc_raw_html][vc_empty_space][/vc_column][/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overflow=”visible” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_direction_desktop=”default” column_element_spacing=”default” desktop_text_alignment=”default” tablet_text_alignment=”default” phone_text_alignment=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_backdrop_filter=”none” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1/1″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text]The MINEX Eurasia conference in London hosted on 1 December 2025 a keynote address by H.E. Meder Mashiev, Minister of Natural Resources, Ecology, and Technical Supervision of Kyrgyzstan, outlining the country’s strategic vision for its critical minerals sector.

     

    Kyrgyzstan’s Strategic Minerals Vision

    The Minister outlined Kyrgyzstan’s methodical approach to prioritising and developing its critical minerals sector, identifying 21 key minerals based on global demand, local deposits, and resource concentrations. Kyrgyzstan’s analysis resulted in the selection of 4 priority projects, 5 promising deposits, and 16 prospective areas for further study and development. These assets, spread across antimony, beryllium, rare earths, molybdenum, bismuth, zinc, silver, and others, offer significant commercial and strategic potential for investors and end-users in energy, electronics, and high-value manufacturing.

     

    Investment and Development Framework

    State companies, notably Kyrgyzgeology, are driving exploration and project development, supported by government incentives and openness to international partnership. Strategic sites are being actively promoted for joint ventures or direct investment. Major domestic and international firms manage several large sites, while more than 100 mining enterprises operate in the country-spanning gold, copper, and polymetallic ores.

     

    Tax and Licensing Regime

    The session detailed Kyrgyzstan’s tax policy, which includes a mix of one-time bonuses for mining rights, royalties, profit tax, and VAT. The overall effective tax burden stands between 25–30%, complemented by social and environmental levies such as waste disposal, emissions, and water usage fees. Procedures for subsoil use licensing are harmonized with those in neighbouring countries, with initiatives being considered to simplify the processes and make it more transparent.

     

    ESG, Transparency, and Sustainable Mining

    Kyrgyzstan’s evolving strategy strongly emphasizes environmental, social, and governance (ESG) standards, aiming to foster responsible mineral development, minimize ecological impact, ensure transparency, and maximize benefits for local communities. The new strategy promotes the deployment of advanced technologies, environmental sustainability, and transparent investment processes, aligning with best practices to attract reliable, long-term partners.

     

    Opportunities for International Partnership

    Kyrgyzstan welcomes active collaboration with global investors and mining enterprises, seeking to leverage modern mining technologies, improve environmental outcomes, and maximize economic benefits. The country’s critical mineral strategy is closely linked to green growth targets and broader Eurasian supply chain integration.[/vc_column_text][/vc_column][/vc_row]

  • MINEX Eurasia’25: Financing Mining and Critical Infrastructure Projects in Central Asia

    MINEX Eurasia’25: Financing Mining and Critical Infrastructure Projects in Central Asia

    [vc_row][vc_column][vc_text_separator title=”3 SESSION BRIEF” color=”blue” border_width=”5″ css=””][vc_empty_space][vc_empty_space][vc_row_inner][vc_column_inner width=”1/2″][vc_empty_space][vc_raw_html css=””]JTNDaWZyYW1lJTIwc3R5bGUlM0QlMjdkaXNwbGF5JTNBYmxvY2slM0JtYXJnaW4lM0FhdXRvJTNCd2lkdGglM0E3NDJweCUzQm1heC13aWR0aCUzQTEwMCUyNSUzQmFzcGVjdC1yYXRpbyUzQTEuNzcwODgzMDU0ODkyNjAxMyUzQiUyNyUyMHNyYyUzRCUyN2h0dHBzJTNBJTJGJTJGa2lsbGVycGxheWVyLmNvbSUyRndhdGNoJTJGdmlkZW8lMkY5NjI3MDdhYS0yYjEzLTRjNzktYWUxMi0xMDM3NmRjZWYxYmIlMjclMjBmcmFtZWJvcmRlciUzRCUyMjAlMjIlMjBhbGxvdyUzRCUyMmF1dG9wbGF5JTNCJTIwZ3lyb3Njb3BlJTNCJTIwcGljdHVyZS1pbi1waWN0dXJlJTNCJTIyJTIwYWxsb3dmdWxsc2NyZWVuJTNFJTNDJTJGaWZyYW1lJTNF[/vc_raw_html][vc_empty_space][/vc_column_inner][vc_column_inner width=”1/2″][vc_empty_space][vc_raw_html css=””]JTNDaWZyYW1lJTIwc3R5bGUlM0QlMjdkaXNwbGF5JTNBYmxvY2slM0JtYXJnaW4lM0FhdXRvJTNCd2lkdGglM0E3NDJweCUzQm1heC13aWR0aCUzQTEwMCUyNSUzQmFzcGVjdC1yYXRpbyUzQTEuNzcwODgzMDU0ODkyNjAxMyUzQiUyNyUyMHNyYyUzRCUyN2h0dHBzJTNBJTJGJTJGa2lsbGVycGxheWVyLmNvbSUyRndhdGNoJTJGdmlkZW8lMkYyNDJjMjJiYi05MWY4LTQ0YWEtOTNkMC1jZjUwM2U4NzE5MjklMjclMjBmcmFtZWJvcmRlciUzRCUyMjAlMjIlMjBhbGxvdyUzRCUyMmF1dG9wbGF5JTNCJTIwZ3lyb3Njb3BlJTNCJTIwcGljdHVyZS1pbi1waWN0dXJlJTNCJTIyJTIwYWxsb3dmdWxsc2NyZWVuJTNFJTNDJTJGaWZyYW1lJTNF[/vc_raw_html][vc_empty_space][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row][vc_column]The MINEX Eurasia conference held in London on 1 December 2025 featured a session focused on “Financing Mining and Critical Infrastructure Projects in Central Asia.” This session drew significant attention due to the surge in demand for critical minerals needed for the global energy transition, with Central Asia viewed as a region of immense opportunity for mining and infrastructure development. The rich resource base, coupled with strategic location and progressive economies, makes this region both attractive and complex for investors aiming to tap into greenfield exploration, brownfield expansions, downstream processing, and large-scale infrastructure projects.

     

    The session framed Central Asia as a strategically located, resource‑rich region that can supply critical minerals for the global energy transition, provided investors can navigate political, regulatory and geological risk. Speakers stressed that well‑structured projects spanning greenfield exploration, brownfield expansions, processing and infrastructure can be highly profitable once risk is properly shared and de‑risking instruments are in place.​​

     

    Capital markets and Central Asian issuers

    The first part of the discussion Moderated by Alexander Keepin, Partner at Simmons & Simmons, the session was explicitly designed to bridge miners and financiers, linking the need for massive new CapEx to the evolving toolkit of capital markets, development finance and commercial lenders active in Eurasia.​​

    In the capital markets panel, Ayuna Nechaeva outlined how London’s public markets continue to finance growth in mining and energy, even in an environment often described as “difficult” for IPOs. Recent examples she highlighted included sizeable listings and bond deals by Eurasian issuers, with particular emphasis on companies from Uzbekistan raising substantial volumes via Eurobonds that were heavily oversubscribed, reflecting strong investor appetite for gold and uranium exposure.​

    She also underlined London’s role as a venue for both equity and fixed‑income issuance from Central Asia, noting that robust governance, ESG performance and transparent disclosure are now central to attracting broad institutional demand. For junior miners, the AIM market remains important but is undergoing reforms to keep admission and ongoing requirements proportionate so that earlier‑stage companies are not treated like large main‑market issuers, while still meeting baseline investor protections.​

    Dialling in from Astana, Ainur Kapparova contrasted London’s depth with the more nascent capital markets environment in Kazakhstan. She pointed to a handful of recent mining‑related listings on the Astana International Exchange, including cross‑listings alongside Hong Kong, but emphasised that exploration‑stage companies still face resistance from local underwriters who are reluctant to take Greenfield risk despite evident interest from local high‑net‑worth investors.​​

     

    Exploration funding gaps and local ecosystems

    A key theme from Kapparova’s intervention was the structural funding gap at the exploration stage in Kazakhstan and wider Central Asia. While the country has liberalised its mining code and opened licensing to more foreign applicants, many juniors struggle to finance work programs needed to move from historical Soviet‑era data to internationally reportable resources under JORC, NI 43‑101 or the Kazakh KAZRC standard.​

    She described concept‑stage work on a mining platform or accelerator intended to match early‑stage projects with both strategic and financial investors comfortable with geological and jurisdictional risk. The ambition is to help domestic juniors progress to feasibility and secure the resource classifications required for listing on the Astana International Exchange, thereby anchoring more of the value chain inside Kazakhstan rather than exporting all capital‑raising to London or Hong Kong.​​

    This exploration gap was placed in a broader regional context: Central Asia’s subsoil remains underexplored relative to its potential, despite hosting a wide array of critical minerals highlighted in several other MINEX Forum sessions and external analyses, from copper and uranium to battery‑related by‑products produced via base‑metal smelting.​

     

    Project finance, DFIs and risk mitigation

    The second panel, “Mining Project Finance and Investment,” shifted the discussion from public markets to long‑tenor debt and blended finance. Under the moderation of Sara Barin, Partner at Simmons & Simmons, the panellists unpacked how commercial banks, development finance institutions and specialist funds structure deals for mining and associated infrastructure in higher‑risk jurisdictions.​​

    Stephan Pueschel, KfW IPEX‑Bank, Azamat Kasymbekov, EBRD and Ekaterina Autet, IFC drew on a pipeline of Eurasian case studies to illustrate typical project finance features: non‑recourse structures, long maturities, political‑risk guarantees, export credit support and strong covenants around ESG performance and community engagement. They emphasised that success in Central Asia hinges on credible sponsors, bankable offtake arrangements, and robust environmental and social management systems aligned with international standards.​

    Advisers from Lee Barnes, Oval Advisory and Cailey Barker, Xcelsior Capital highlighted the role of private capital and specialist funds, which often step in alongside DFIs to provide mezzanine, royalty, or streaming‑style instruments that can fill funding gaps while aligning repayment with project cash flow. This layering of public and private capital, they argued, is increasingly necessary to move projects from advanced exploration through construction in a world of volatile commodity prices and heightened geopolitical risk.​

     

    Outlook for Central Asian mining finance

    Across both panels, speakers converged on a cautiously optimistic outlook for 2026 and beyond, while acknowledging that geopolitical shocks and market volatility can quickly affect timing and pricing. The accelerating demand for critical minerals to power electrification, renewable energy and digital technologies is expected to keep investor interest high in uranium, copper, gold and other strategic commodities where Central Asia holds significant reserves.​

    However, realising this potential will require continued capital‑market reforms, deeper local investor bases, and stronger project pipelines that meet global expectations on governance and sustainability. The MINEX Eurasia session demonstrated that the building blocks are in place: a sophisticated London market open to Central Asian issuers, an emerging ecosystem in Astana seeking to support juniors, and a set of DFIs and commercial lenders prepared to finance high‑quality projects that align commercial returns with the global energy transition.[/ohio_text][/vc_column][/vc_row]

  • MINEX Eurasia’25: Energy Security Realism – Balancing Decarbonisation and Economic Reality

    MINEX Eurasia’25: Energy Security Realism – Balancing Decarbonisation and Economic Reality

    [vc_row][vc_column][vc_text_separator title=”2 SESSION BRIEF” color=”blue” border_width=”5″ css=””][vc_empty_space][vc_empty_space][vc_raw_html css=””]JTNDaWZyYW1lJTIwc3R5bGUlM0QlMjdkaXNwbGF5JTNBYmxvY2slM0JtYXJnaW4lM0FhdXRvJTNCd2lkdGglM0ExMjgwcHglM0JtYXgtd2lkdGglM0ExMDAlMjUlM0Jhc3BlY3QtcmF0aW8lM0ExLjc3MDg4MzA1NDg5MjYwMTMlM0IlMjclMjBzcmMlM0QlMjdodHRwcyUzQSUyRiUyRmtpbGxlcnBsYXllci5jb20lMkZ3YXRjaCUyRnZpZGVvJTJGODYwNzA3NGItODJlNS00NjY0LWE5YjMtNGUzODlmM2M3ZDYxJTI3JTIwZnJhbWVib3JkZXIlM0QlMjIwJTIyJTIwYWxsb3clM0QlMjJhdXRvcGxheSUzQiUyMGd5cm9zY29wZSUzQiUyMHBpY3R1cmUtaW4tcGljdHVyZSUzQiUyMiUyMGFsbG93ZnVsbHNjcmVlbiUzRSUzQyUyRmlmcmFtZSUzRQ==[/vc_raw_html][vc_empty_space]The second session of the MINEX Eurasia Conference, held in London on 1 December 2025, brought together regional energy leaders and experts to debate one of the most pressing issues shaping Eurasia’s future — how to maintain energy security while pursuing decarbonisation targets and responding to global economic pressures. Titled “Energy Security Realism: Balancing Decarbonisation with Economic Reality”, the session examined how countries such as Kazakhstan, Uzbekistan, Kyrgyzstan, and Azerbaijan are redefining energy policy amid shifting geopolitical and environmental dynamics.

    A Pragmatic Energy Debate

    Framed around the central question of whether the energy transition must always mean abandoning fossil fuels, the session reflected a pragmatic tone — one that resonated with the region’s economic realities. Chair Kruthika Anastasia Bala, Managing Director of Resources Now, opened by underscoring the regional complexity: “Energy security means very different things depending on geography, industrial base, and social needs. Central Asia must find its own path balancing nuclear, fossil fuels, and renewables.”

    Bala noted that the region’s energy strategies are increasingly shaped by national priorities, not by imported global rhetoric. This sentiment set the stage for an engaging series of presentations exploring uranium, coal, renewables, and critical minerals.

    Uranium’s Strategic Role

    Tracey Laight, Principal Resource Geologist at SLR Consulting, provided a detailed assessment of The Resource Base Underpinning Strategic Changes. She highlighted the growing strategic importance of uranium, noting that “Kazakhstan has been the world’s leading uranium producer since 2009,” contributing around 14% of global known reserves. With nuclear energy capacity expected to double by 2040, Laight stressed the urgent need for renewed exploration investment: “If planned reactors come online, current resources could dwindle from 90 years to just 40 years of supply.”

    Her presentation called for greater support for junior mining companies in Central Asia, arguing that “more agile, risk-tolerant exploration” will be essential to meet global and domestic demands in the decades ahead.

     

    Shortly after the conference on 5 December Kazakhstan’s Senate has approved, in two readings, a package of amendments to the Subsoil and Subsoil Use Code aimed at significantly strengthening state control over the country’s strategic uranium reserves. The reform marks one of the most substantial regulatory shifts in Kazakhstan’s uranium sector in recent years, reinforcing the dominant role of national company Kazatomprom and tightening restrictions on foreign participation. Under the proposed amendments, if geological exploration confirms uranium mineralisation or deposits, subsoil users will be required either to return the explored area to the state or to transfer priority purchase rights for uranium to the national company. Lawmakers say the measure is designed to eliminate risks associated with “parallel activities” by different subsoil users operating on overlapping or adjoining territories. Read further

     

    Kazakhstan’s Energy Quadrilemma

    Joining remotely, Nicholas Pomeroy, Founder & General Director of AngloKazakh, introduced a new framework for understanding Kazakhstan’s transition — what he termed the Energy Quadrilemma: balancing cost, carbon, security, and water. Building on the traditional “energy trilemma,” Pomeroy argued that water scarcity presents a fourth critical constraint. “No water source begins in Kazakhstan,” he noted. “This reality is reshaping the feasibility of thermal, nuclear, and hydrogen projects alike.”

    Pomeroy reviewed the country’s three decades of energy evolution, from post-Soviet hydrocarbon investment to a present defined by ageing infrastructure and growing domestic demand. “Kazakhstan’s energy transition is no longer led by climate goals,” he said. “It’s driven by necessity.” His recommendation emphasised integrated, domestic-first solutions — strengthening grids, water infrastructure, and renewables before pursuing export mega-projects.

    Financing the Transition

    Veronika Krakovich, Regional Head of Energy for Eurasia at the European Bank for Reconstruction and Development (EBRD), discussed the multilateral bank’s expanding portfolio in Central Asia. The EBRD has financed more than €9 billion across 190 energy projects, prioritising renewable generation and grid modernisation.

    Krakovich outlined initiatives supporting solar, wind, and hydropower developments, including groundbreaking projects such as a 1 GW solar-battery hybrid in Uzbekistan and the region’s first green hydrogen pilot – a partnership between Acwa Power and Uzkimesanoat. “Falling technology costs have made renewables competitive,” she said. “By coupling green energy with policy support, Central Asia can reduce fossil fuel dependence while boosting energy export potential.”

    She also emphasised that Uzbekistan and Kazakhstan’s reform of auction systems and electricity laws have significantly improved investor confidence, positioning both countries as early movers in Eurasia’s green finance landscape.

    The Broader Picture

    Additional contributions touched on uranium chemistry innovation, the role of small modular reactors (SMRs), and the emerging geopolitics of critical minerals. Speakers such as Amanzhol Yelemessov of the Atomic Industry Development Association and Dr. Dinara Ermakova, an independent nuclear expert, discussed how nuclear development could bolster regional stability while supporting net-zero objectives. Benjamin Godwin, Partner and Head of Analysis at PRISM Strategic Intelligence, rounded out the panel by examining how Central Asia can balance energy ambitions with critical mineral extraction strategies, ensuring long-term resilience and economic competitiveness.

    Toward Energy Security Realism

    The consensus from the session was clear: Eurasia’s energy transformation will not follow a single trajectory. Nations across the region are embracing an approach grounded in energy security realism — one that values reliability and development alongside decarbonization. As Bala closed the session, she reminded delegates that “the transition is not about choosing between coal, uranium, or solar — it’s about designing a system where they can coexist, sustainably and securely.”[/ohio_text][/vc_column][/vc_row]