MINEX Forum

Website: Europe.com

  • BASF and Vulcan Partner to Harness Geothermal Energy and Produce Green Lithium

    BASF and Vulcan Partner to Harness Geothermal Energy and Produce Green Lithium

    BASF and Vulcan Energie Ressourcen GmbH have signed a Memorandum of Understanding (MoU) to explore the use of geothermal energy at BASF’s Ludwigshafen site, aiming to provide CO2-free steam and support energy transformation efforts in the Rhine-Neckar Metropolitan Region. The agreement was signed in the presence of Daniela Schmitt, Rhineland-Palatinate’s Minister of Economic Affairs, Transport, Agriculture, and Viniculture.

    The project will tap into deep geothermal energy from the Upper Rhine Graben, which has significant potential for renewable energy. If successful, it could produce up to 300 MW of thermal energy, generating 4 million tons of steam annually and cutting 800,000 tons of CO2 emissions at BASF’s largest site. This renewable heat could also benefit nearby urban centers, such as Ludwigshafen and Frankenthal, for district heating.

    Additionally, Vulcan plans to build a lithium extraction plant at Ludwigshafen, leveraging the geothermal brine to produce sustainable lithium-ion batteries for industries like automotive and electronics. The collaboration highlights innovative integration of renewable energy and resource extraction technologies.

    “This project showcases the transformative potential of deep geothermal energy for industrial sites, cities, and entire regions,” said Uwe Liebelt, President of European Verbund Sites at BASF. He emphasized the importance of partnerships between the public and private sectors to drive the energy transition. Vulcan’s Thorsten Weimann and Cris Morenoechoed the environmental and economic benefits of combining geothermal energy with lithium production.

    Exploratory seismic surveys in the Upper Rhine Graben are set to begin in early 2025, led by Vulcan, to assess geothermal conditions and refine technical plans.

  • Moldova’s Industrial Production Records 0.9% Growth in 2024

    Moldova’s Industrial Production Records 0.9% Growth in 2024

    Moldova’s industrial production increased by 0.9% year-on-year during the first nine months of 2024, driven by a strong performance in the mining sector, which surged by 9.9%, according to the National Bureau of Statistics (BNS). The report, based on seasonally adjusted data, highlighted a consistent trend with unadjusted figures also showing a 0.9% growth over the same period.

    However, the monthly figures for September revealed a decline, with industrial output falling by 3.3% year-on-yearbased on unadjusted data, and by 2% in seasonally adjusted terms. The BNS did not provide a month-on-month comparison for September.

  • Rio Tinto Partners with GravitHy to Advance Steel Decarbonisation in Europe

    Rio Tinto Partners with GravitHy to Advance Steel Decarbonisation in Europe

    Rio Tinto has entered into definitive agreements with GravitHy to expedite the decarbonisation of steelmaking in Europe. Under the collaboration, Rio Tinto will supply high-grade direct reduction iron ore pellets from its operations at the Iron Ore Company of Canada to support GravitHy’s ambitious steel production project in France.

    GravitHy plans to establish a cutting-edge facility in Fos-sur-Mer, which is expected to produce two million tonnes of iron annually starting in 2028. The facility will leverage ultra-low carbon hydrogen production powered by nuclear energy to convert the direct reduction pellets into hot briquetted iron (HBI).

    GravitHy CEO José Noldin highlighted the project’s significance, stating, “We are developing one of the most advanced ultra-low-carbon iron projects worldwide, designated by the French Government as an ‘Industrial Project of Major National Interest.’” He also emphasized that combining GravitHy’s innovative approach with Rio Tinto’s leadership in mining and steel decarbonisation ensures a strong foundation for the project’s success.

  • Romania Secures EUR 790 Million to Close Coal Mines in Jiu Valley

    Romania Secures EUR 790 Million to Close Coal Mines in Jiu Valley

    Romania has received EUR 790 million from the European Union to support the closure of four uncompetitive coal mines in the Jiu Valley, the country’s primary coal region. The European Commission approved the funding under EU state aid rules, ensuring it covers exceptional social and safety costs tied to the coal phaseout.

    The four mines—Lonea, Lupeni, Livezeni, and Vulcan—along with the Paroșeni power plant, are operated by Societatea Complexul Energetic Valea Jiului S.A. The financial package will support workers displaced by the closures and fund essential safety measures, including mine shaft security, environmental remediation, and land recultivation.

    Jiu Valley is part of the EU’s Coal Regions in Transition Initiative, launched in 2017. This funding aligns with Romania’s pledge to phase out coal by 2032 as per its National Recovery and Resilience Plan. However, recent analyses by Transelectrica, the national electricity transmission operator, suggest coal may vanish from Romania’s energy mix as early as 2026.

    The allocated funds will cover eligible costs from October 1, 2023, to December 31, 2032, and an independent consultant will ensure compliance, including limiting coal extraction to public safety needs. Romania has also committed to annual reporting to maintain transparency in the transition process.

  • Can Europe Secure its Future? The EU’s Critical Raw Materials Act Faces Challenges

    Can Europe Secure its Future? The EU’s Critical Raw Materials Act Faces Challenges

    The European Union is on a mission to become a climate-neutral economy by 2050, driving a green and digital revolution. But this ambition hinges on securing a reliable supply of critical raw materials (CRMs) – the essential building blocks for everything from batteries and electric vehicles to wind turbines and defense technologies.

    To address this challenge, the EU launched the Critical Raw Materials Act (CRMA) in May 2024. The CRMA aims to bolster the EU’s self-sufficiency in CRMs, reduce its reliance on imports, and promote sustainable sourcing. While a crucial step, the CRMA faces significant hurdles in achieving its ambitious goals.

    What’s at Stake?

    The EU’s dependence on imports for CRMs, particularly from China, poses a significant risk to its economic and strategic autonomy. China’s recent export restrictions on gallium, germanium, and antimony – all vital for key technologies – have sent shockwaves through global markets, highlighting the vulnerability of global supply chains.

    The CRMA identifies 34 critical raw materials, including 17 deemed “strategic” due to their importance for green and digital technologies. By 2030, the EU aims to:

    • Mine 10% of its annual needs for strategic raw materials within its borders.
    • Process 40% of its needs within the EU.
    • Recycle 25% of its needs.
    • Diversify import sources, with no more than 65% of any single strategic raw material coming from one country.

    Obstacles on the Road to Resilience

    Despite its ambition, the CRMA has drawn criticism for lacking concrete financial support and relying heavily on regulatory measures. Experts have raised concerns about the EU’s capacity to meet its 2030 benchmarks, citing challenges such as:

    • Slow Permitting Processes: Even with streamlined procedures, opening new mines in Europe remains a lengthy process.
    • Social Acceptance: Mining often faces local opposition due to environmental and social concerns.
    • High Costs: Energy and labor costs in Europe can make mining and processing less competitive compared to other regions.
    • Limited Information: Decades of underinvestment in exploration have left the EU with insufficient data on its mineral reserves.

    Calls for a Stronger Approach

    Several reports and analyses have proposed ways to strengthen the EU’s CRM policy:

    • The Draghi Report: Recommends a comprehensive strategy covering the entire CRM value chain, a dedicated EU CRM platform for coordinated action, and increased investment in research and innovation.
    • The Letta Report: Suggests using joint purchasing power to establish strategic reserves of key CRMs and promoting circular economy principles.
    • Other Proposals: Include creating a European CRM fund, strengthening research and development in alternative materials, and ensuring coherence among EU regulations affecting the CRM sector.

    The Way Forward

    The new European Commission has acknowledged the urgency of the CRM challenge, promising a “clean industrial deal” to secure access to essential raw materials. However, translating ambition into action will require overcoming significant obstacles.

    The EU needs a multi-pronged approach that combines regulatory streamlining, targeted investments, and international cooperation. Boosting domestic production, fostering innovation in recycling and substitution, and building strong partnerships with resource-rich countries will be crucial for securing the EU’s green and digital future.

    The CRMA is a crucial first step, but much more needs to be done to ensure that Europe has the resources it needs to thrive in the 21st century.

  • Ionic Rare Earths Completes Feasibility Study for UK Rare Earth Facility

    Ionic Rare Earths Completes Feasibility Study for UK Rare Earth Facility

    Ionic Rare Earths Ltd has completed a feasibility study for its rare earth oxide manufacturing facility in Belfast, UK, confirming the project’s strong financial and environmental viability. The company operates a demonstration plant in Northern Ireland, maintaining a continuous supply of rare earth oxide.

    The study highlights an after-tax net present value (NPV) of $502 million, with an internal rate of return (IRR) of 43.6% and a capital payback period of just 2.4 years. Based on a throughput of 1,200 t/y, the facility is expected to produce 400 t/y of separated magnet rare earth oxides (REO) over a 20-year asset life, generating annual earnings of nearly $1.8 billion.

    Managing Director Tim Harrison emphasized the project’s role in promoting magnet recycling, describing it as environmentally friendly, commercially viable, and a step toward reducing dependence on Chinese rare earth production. “This represents a low capital risk pathway to sovereign magnet REO production, offering strong financial returns through a sustainable, circular economy model,” Harrison stated.

    With backing from the UK government, Ionic is now working on site permits and finalizing the front-end engineering design, with a final investment decision expected in the first half of 2025. Construction is slated to finish by late 2026, and the first commercial deliveries are targeted for early 2027.

    The project is anticipated to create 70 jobs, including roles at a technical center focused on further research in rare earth separation and magnet recycling. Ionic also plans to use the feasibility study to advance agreements for feedstock and off-take contracts.

    The company already has a partnership with Brazilian developer Viridis Mining and Minerals and is advancing its Makuutu heavy rare earths project in Uganda toward production.

  • Critical Metals Targets 2025 for Updated Feasibility Study on Wolfsberg Lithium Project

    Critical Metals Targets 2025 for Updated Feasibility Study on Wolfsberg Lithium Project

    Critical Metals Corp. (Nasdaq: CRML) announced on Thursday its plan to deliver a new definitive feasibility study (DFS) for its flagship Wolfsberg lithium project in the first quarter of 2025. The Wolfsberg project, located 270 km southwest of Vienna, Austria, is poised to become Europe’s first fully permitted spodumene mine and a potential producer of lithium concentrate, with initial production expected by 2026/27.

    The current DFS is based on S-K 1300-compliant resources from Zone 1, totaling 12.9 million tonnes at an average lithium oxide grade of 1% Li₂O, including 9.7 million tonnes in the measured and indicated category. The company is optimistic that further exploration of Zone 2, which has shown pegmatite intersections with grades up to 2.49% Li₂O, could potentially double the resource base.

    Critical Metals estimates the combined resources from Zones 1 and 2 could support a mine life exceeding 20 years. “With the recent approval for Zone 2 drilling at the Wolfsberg project, we are excited to further enhance the upside potential of this transformational lithium asset for our stakeholders,” said CEO Tony Sage.

    The project has already secured significant industry backing, including a long-term offtake agreement with BMW in December 2022, with a $15 million prepayment made earlier this year. The agreement currently excludes lithium from Zone 2.

    In partnership with the Obeikan Group, Critical Metals plans to build the Middle East North Africa region’s first lithium hydroxide processing plant in Saudi Arabia. This 50/50 joint venture aims to produce up to 20,000 tonnes of battery-grade material annually. The joint venture partners are set to inspect hydroxide plants in China later this year to gain technical expertise for the project.

    Beyond Wolfsberg, Critical Metals is advancing the Tanbreez project in Greenland, one of the world’s largest rare earth resources, acquired earlier this year.

    Shares of Critical Metals dropped 7.7% to $5.79 in New York by 1:45 p.m. EDT, reflecting a market capitalization of $525.1 million.

  • Boliden Nears Deal to Acquire Lundin Mining’s European Mines

    Boliden Nears Deal to Acquire Lundin Mining’s European Mines

    Swedish mining company Boliden is reportedly in advanced negotiations to acquire Lundin Mining’s two European mines, according to sources familiar with the matter. The assets under discussion are Zinkgruvan in Sweden and Neves-Corvo in Portugal, both of which have been instrumental to Lundin’s operations but are now up for sale as the Canadian company shifts its focus to Latin America.

    The acquisition would reinforce Boliden’s position as a leading European zinc producer, securing a steady ore supply for its Scandinavian smelting operations. Lundin’s Zinkgruvan mine, operational since 1857, produced 76,349 tons of zincin 2022, while Neves-Corvo yielded 108,812 tons of zinc and 33,823 tons of copper.

    Lundin seeks to raise funds to invest in its South American copper projects, including its partnership with BHP Groupon the Filo Corp. project spanning the Argentina-Chile border. This divestment aligns with Lundin’s strategy to capitalize on growing demand for copper in renewable energy and electric vehicle markets.

    Meanwhile, Boliden is expanding capacity at its Odda smelter in Norway by 75% to 350,000 tons annually and restarting operations at its Tara zinc mine, Europe’s largest, after high costs temporarily halted production.

    Representatives of both companies declined to comment on the deal, emphasizing that discussions are ongoing, and no agreement has been finalized.

  • Widespread Outrage as IG Metall Bypasses Workers in Controversial Agreement

    Widespread Outrage as IG Metall Bypasses Workers in Controversial Agreement

    metal and electrical industries, has finalized a controversial agreement without a workplace vote. The deal, opposed by many union members, has been criticized as another sell-out by union officials prioritizing corporate interests. The agreement impacts 3.9 million workers, imposing real wage cuts, while benefiting corporate profits and aligning with government policies of rearmament and industrial downsizing.

    The contract, negotiated in Bavaria and Coastal districts, introduces a 25-month industrial peace clause, effectively stifling resistance to mass layoffs and plant closures already announced by major companies. Workers have expressed their anger on IG Metall’s social media pages, calling the deal a betrayal. Comments include:

    • “Thanks for this loss of purchasing power,” wrote Andrè.
    • “We won’t see most of the payments until 2026!” lamented Stefan.
    • “It’s time we thought about leaving this joke of a union,” added Matthias.

    Union leader Christiane Benner defended the agreement, hailing “social partnership” as a stabilizing factor in uncertain times. However, critics argue that IG Metall, heavily influenced by corporate and government alliances, has abandoned its role as a defender of workers’ rights.

    Activists are calling for independent action committees to challenge the union’s decisions, demand strike votes, and resist wage theft, layoffs, and social cuts. They emphasize the need for an international working-class movement to oppose corporate greed and militarization.

  • Military Metals Completes Acquisition of Antimony Projects in Slovakia

    Military Metals Completes Acquisition of Antimony Projects in Slovakia

    Military Metals Corp. (CSE: MILI) has successfully finalized the acquisition of three antimony exploration projects in Slovakia, following the amalgamation of its subsidiary, 1509149 B.C. Ltd., with 1458205 B.C. Ltd. This acquisition gives Military Metals 100% ownership of the three projects: the Trojarová antimony-gold project, the Tiennesgrund antimony-gold project, and the Medvedi tin project.

    As part of the transaction, Military Metals issued 10 million common shares at a deemed price of $0.56 per share to the shareholders of the acquired company. Notably, the company decided not to assume the obligations related to share purchase warrants that were previously outlined in the agreement.

    The Trojarová project, initially explored in the late 1970s, holds historical resource estimates that the company plans to verify through drilling and subsequent technical reports. Military Metals intends to conduct a National Instrument 43-101 compliant report on the Trojarová site, with the goal of reclassifying the historical estimates into current resources.

    Alongside this acquisition, Military Metals is also strengthening its marketing efforts, entering into several investor relations agreements to increase its presence in the German-speaking market and enhance its visibility through digital and media platforms.

    This acquisition marks a significant expansion for Military Metals, positioning the company to tap into Slovakia’s promising mineral resources, particularly in the antimony sector.