MINEX Forum

Website: Europe.com

  • Turkey and China Sign MOU to Boost Cooperation in Mining and Critical Minerals

    Turkey and China Sign MOU to Boost Cooperation in Mining and Critical Minerals

    Turkey and China have signed a memorandum of understanding (MOU) to enhance their cooperation in the mining sector, with a strong focus on critical minerals like rare earth elements. China, which dominates the global supply of rare earths, producing 70% of the world’s output and 90% of refined materials, has reinforced its strategic role in this partnership.

    The announcement was made during an international mining conference held in Tianjin, China, where Alparslan Bayraktar, Turkey’s Minister of Energy and Natural Resources, and his Chinese counterpart, Wang Guanghua, formalized the agreement. Bayraktar highlighted the significance of critical minerals in high-tech production and emphasized Turkey’s goal to process 570,000 tonnes of rare earth elements annually. This will allow Turkey to capitalize on its Eskişehir reserve, the second-largest in the world.

    This latest agreement follows a prior MOU focused on energy transformation, signed during Bayraktar’s visit to China in May. Turkey aims to attract investments from major Chinese companies, such as BYD, to support its electric vehicleand battery production sectors. Additionally, Bayraktar held discussions with CNOS, a key player in China’s nuclear industry, and SPIC, one of China’s largest energy companies, to explore partnerships in renewable energy and modular reactors.

    In a statement on his official X account, Bayraktar emphasized the potential of joint mining projects, stating that such collaborations could significantly impact the future of the global mining industry.

  • Parliamentary Committee Reviews “Kosova Thëngjilli” Complaint on Mining Rent Exemption

    Parliamentary Committee Reviews “Kosova Thëngjilli” Complaint on Mining Rent Exemption

    The Parliamentary Committee for Economy, Industry, Entrepreneurship, and Trade has reviewed a formal complaint from Kosova Thëngjilli regarding the non-implementation of the Law of Economic Recovery, specifically concerning the company’s exemption from mining rent. Minister of Economy, Artane Rizvanolli, provided a report on the issue to the committee, addressing concerns raised by the company.

    Rizvanolli acknowledged that while there is no economic logic for the rent to be billed by KEK (Kosovo Energy Corporation) to Kosova Thëngjilli, the Legal Office’s interpretation supports the rent being charged. She described the situation as an “injustice” but clarified that the legal interpretation allows licensed mining units to be charged rent.

    The managing director of Kosova Thëngjilli, Isuf Mehmeti, justified the complaint by stating that the company has not been able to comply with the Law on Economic Recovery since January 1, when the law came into effect. He pointed out that the lack of rent exemption has severely affected the company, which employs 200 workers, and caused a loss of business with their key client, Ferronikeli, now sourcing from neighboring countries due to tax issues.

    Ferat Shala, Chairman of the Commission, expressed concern that despite the law clearly exempting such units from rent, Kosova Thëngjilli continues to be unfairly charged. He criticized KEK for imposing rent and emphasized that the law should not favor only the ‘bosses’ of the mining sector. Shala questioned whether the company’s deteriorating financial situation could lead to bankruptcy.

    Support for Kosova Thëngjilli came from MPs across party lines, including Mimoza Kusari-Lila, who criticized KEK for billing the company unfairly, and Uran Ismajli from the PDK, who argued that the Law should apply equally to all businesses without any abuse.

  • Protest in Berlin Against Lithium Mining in Serbia Highlights German Industry’s Double Standards

    Protest in Berlin Against Lithium Mining in Serbia Highlights German Industry’s Double Standards

    A protest against lithium mining in Serbia took place in Berlin, drawing attention to the perceived double standards of the German industry. The demonstration, held in front of the Futurium building near Berlin’s main train station, was organized by people from the former Yugoslavia and environmental activists from across the globe. Protesters aimed to highlight the contrast between Germany’s advocacy for ecologically sustainable production at home and its support for lithium extraction in Serbia, which they argue harms the environment.

    Around several dozen demonstrators attended the event, including members of the Serbian community in Berlin and left-wing activists. They voiced dissatisfaction with the policies of German Chancellor Olaf Scholz, particularly his support for Rio Tinto and their controversial mining projects in Serbia.

    One of the protest organizers, Krunoslav Stojakovic, stated that the protest was strategically held in front of the Futurium, where the German Association of Industrialists was hosting a congress on the environmental development of industry. He criticized the German industry for promoting sustainable practices at home while supporting environmentally damaging lithium exploitation abroad.

    The protest attracted citizens from Serbia and other former Yugoslav republics living in Berlin, who are concerned about the potential environmental and water supply issues that lithium mining could cause in Serbia. They also pointed to the negative impacts of similar mining projects in other countries.

  • EIT RawMaterials Invests €0.5 Million in Novana’s Vanadium Recovery Project

    EIT RawMaterials Invests €0.5 Million in Novana’s Vanadium Recovery Project

    Berlin, 15 October 2024: EIT RawMaterials has announced a €0.5 million seed investment in Novana, a Finland-based subsidiary of Neometals, to advance the Vanadium Recovery Project (VRP1) in Pori, Finland. Novana utilizes innovative circular technology to produce high-purity vanadium pentoxide (V2O5) from steelmaking slag, while also consuming CO2, thus reducing environmental impact compared to traditional methods.

    This initial funding aims to spur the project’s growth by securing additional financing. EIT RawMaterials is assisting Novana in raising €400 million in equity and debt to fully develop the project.

    Strategic Importance of Vanadium for Europe

    Europe heavily relies on imports for vanadium, a critical raw material essential for high-strength steel alloys and emerging technologies like Vanadium Flow Batteries (VFBs). With this seed investment, VRP1 is set to become Europe’s first domestic producer of Vanadium Pentoxide (V2O5), expected to produce 9,000 tonnes annually, covering over 40% of Europe’s current demand. The project will also cut up to 1.5 million tonnes of CO2 over the next decade, aiding Europe’s green transition.

    Catalyzing Further Growth

    Beyond the €0.5 million seed investment, EIT RawMaterials is helping Novana secure the remaining €400 million needed for the project’s completion. This will be achieved through a mix of debt and equity financing, managed by SEB and Aventum. The European Investment Bank (EIB) has conditionally approved debt financing, recognizing the project’s strategic importance for Europe’s resource independence.

    EIT RawMaterials’ investment grants them a 1.1% stake in Novana, with an option to invest an additional €10 million in equity later, contingent on project milestones. With all key permits, a take-or-pay offtake agreement, and advanced slag supply discussions in place, the project is well-positioned to attract significant financial commitments from both private and public sectors.

    Championing Circular Economy Innovation

    This investment underscores EIT RawMaterials’ dedication to fostering growth and innovation in Europe’s raw materials sector. Bernd Schäfer, CEO of EIT RawMaterials, stated: “This €0.5 million seed investment is intended to support Novana in laying the groundwork for further project growth. Novana exemplifies how innovative technologies can unlock critical materials from waste, reduce Europe’s import dependency, and contribute to a circular and sustainable economy.”

    Novana’s Vision as Europe’s First Domestic Vanadium Producer

    Johanna Lamminen, CEO of Novana, expressed: “We are thrilled to have partnered with EIT RawMaterials to advance our circular economy vanadium recovery project. We look forward to securing the necessary funding and commencing construction, with strong support from the Finnish State and the EU, to become Europe’s first domestic producer of zero-carbon high-purity vanadium, essential for high-strength steel, aerospace titanium alloys, and stationary energy storage batteries.”

  • Critical Metals Corp Secures Extension for Greenland’s Largest Rare Earth Deposit

    Critical Metals Corp Secures Extension for Greenland’s Largest Rare Earth Deposit

    Critical Metals Corp.  announced on Tuesday that it has obtained an extension for the exploitation license of its Tanbreez project in Greenland, which holds the world’s largest rare earth deposit. The company is now required to submit exploitation and closure plans by the end of 2025, provide financial security and a company guarantee by June 30th, 2026, and start mining operations by the end of 2028.

    Chairman and CEO Tony Sage expressed that the extension is a “significant milestone,” reflecting strong local support and the potential for job creation in the region. The drilling program, which began in September, has concluded, with extracted rare earth material securely stored. A portion has been sent for analysis to ALS laboratory in Ireland, and the company expects to receive results in the coming months.

    Located in Southern Greenland, the Tanbreez project contains over 27% heavy rare earth elements (HREE), which are more valuable than lighter rare earth elements. Once operational, the mine will supply rare earth elements to Europeand North America, with year-round direct shipping access through deep-water fjords connecting to the North Atlantic. The orebody, Kakortokite, covers an 8 km by 5 km area and is 400 meters thick.

    In addition to Tanbreez, Critical Metals owns Europe’s first fully permitted lithium mine, the Wolfsberg lithium project in Austria, and debuted on the Nasdaq in March. Construction at Wolfsberg is expected to be completed by 2026, with supply commitments to BMW beginning in 2027. The company has also secured a partnership with Obeikan Investment Group to establish a lithium hydroxide plant in Saudi Arabia. Following this announcement, shares in Critical Metals rose over 2.8%, with the company’s market capitalization reaching $536.6 million.

  • Savannah Resources Predicts Lithium Price Rebound by 2027, Targets Production in Portugal

    Savannah Resources Predicts Lithium Price Rebound by 2027, Targets Production in Portugal

    Savannah Resources, a London-based mining company, anticipates a rebound in lithium prices by 2027, aligning with its plans to begin commercial production at its Barroso mining project in Portugal, according to CEO Emanuel Proenca. Lithium, a key material used in electric vehicle (EV) batteries and appliances, has seen an 80% price dropover the past year due to overproduction in China and a reduction in EV demand.

    Proenca emphasized that the market’s fundamentals remain strong, predicting a supply deficit from 2027 onward, which fits Savannah’s project timeline. He expressed optimism about global lithium demand, expecting it to grow 2.6 times over the next seven years, with a sharp acceleration starting in 2027.

    Savannah aims to bring the Barroso project online in 2027, delayed by a year due to a political change in Portugal. The company plans to build four open-pit mines in the northern Barroso region, extracting enough lithium for half a million EV batteries annually. Despite facing opposition from local residents and environmentalists, Proenca assured that the project would proceed.

    His optimism is echoed by Rio Tinto’s CEO, Jakob Stausholm, who recently announced the company’s acquisition of Arcadium Lithium for $6.7 billion, positioning Rio Tinto as a leading global player in lithium mining.

  • Gecamines to Ship First Germanium Concentrates to Europe from Congo

    Gecamines to Ship First Germanium Concentrates to Europe from Congo

    The Democratic Republic of Congo’s state miner, Gecamines, announced on Monday that it will make its first shipment of germanium concentrates to Europe, sourced from its Big Hill tailings dump. The new concentrates are produced at a new plant in Lubumbashi, the country’s mining hub, and will be sent to Umicore in Belgium for further processing to be used in high-tech applications, according to a statement released by the company.

    “This inaugural shipment of germanium confirms our ambition, nurtured over several years, to make Congo a global hub for strategic metals,” said Gecamines chairman Robert Lukama. The shipment follows a deal signed in May between Umicore and Gecamines, which has allowed the plant to increase output by processing waste material from the tailings site. This agreement also enables Umicore to diversify its supply of germanium, a rare mineral essential for chipmaking, infrared technology, fibre optic cables, and solar cells.

  • Serbia’s National Assembly Rejects Opposition’s Lithium Mining Ban Amid Protests

    Serbia’s National Assembly Rejects Opposition’s Lithium Mining Ban Amid Protests

    The National Assembly of Serbia has voted against amendments to the Law on Mining and Geological Explorations that would ban the exploration, mining, and processing of lithium and boron ores, with 127 votes against and 84 in favor. The rejected bill, submitted by 86 opposition lawmakers, was aimed at halting Rio Tinto’s Jadar project in western Serbia, which has sparked widespread controversy and environmental protests.

    Environmental activists and opposition figures have raised serious concerns about the environmental and health impacts of the project, particularly in the agricultural region surrounding the city of Loznica, where Rio Tinto plans to extract lithium and boron. The opposition argued that the project would not be financially beneficial for Serbia, citing low mining royalties and the cost of government-subsidized infrastructure for the project.

    The vote marks the first time the opposition officially presented its case in parliament. The Ecological Uprising movement, led by Danijela Nestorović, clarified that their proposed ban was limited to lithium and boron mining, despite claims by National Assembly Speaker Ana Brnabić that the law would halt all geological exploration projects.

    Minister of Mining and Energy Dubravka Đedović Handanović countered the opposition’s arguments, stating that much of the agricultural land affected by the project is of low quality and that the government would manage mineral resources responsibly, maintaining high environmental and social standards. She emphasized that the demand for critical raw materials is growing, and Serbia must leverage its resources strategically.

    Local activists and groups like Ne damo Jadar, part of the Association of Environmental Organizations of Serbia (SEOS), were outraged by the decision, claiming it is a declaration of war on the people. These organizations have been leading protests and warning of severe environmental damage to the Jadar valley.

    Meanwhile, Rio Tinto has estimated that the project would generate EUR 180 million per year for Serbia in taxes and royalties. However, prominent Serbian economists have disputed these figures, suggesting the nation’s income would be negligible, especially when factoring in infrastructure costs.

  • Rio Tinto Accused of Downplaying Environmental Impact of Serbia’s Jadar Lithium Project

    Rio Tinto Accused of Downplaying Environmental Impact of Serbia’s Jadar Lithium Project

    Rio Tinto is under fire for allegedly misrepresenting the environmental impacts of its Jadar project in Serbia, according to the Renewables and Environmental Regulatory Institute (RERI). The company’s environmental impact assessment request reportedly only covers the mining portion of the project, ignoring other critical elements like ore processing and waste disposal. RERI argues that this selective submission artificially reduces the perceived environmental risks of the entire project, which includes a lithium and boron ore processing plant and large-scale waste management.

    RERI claims that both Rio Tinto and Serbia’s Ministry of Environmental Protection are contradicting their own commitments to maintain high European environmental standards. By splitting the project into parts, a practice known as “salami slicing,” Rio Tinto may be attempting to secure faster permits while avoiding comprehensive environmental scrutiny.

    The current request leaves out significant details, such as the environmental impact of ore processing, waste generation, and water usage from the Drina River. RERI also highlighted the lack of information on how harmful by-products like lithium carbonate sludge would be managed. Mirko Popović, Programme Director at RERI, emphasized that by breaking up the project, Rio Tinto could reduce costs and bypass stricter environmental protection measures.

    The Environmental Protection Institute of Serbia had previously mandated that all phases of the Jadar project must be assessed together, yet this requirement appears to have been overlooked. This fragmented approach could allow Rio Tinto to proceed with mining activities without fully addressing the environmental impacts of the entire operation.

    The issue has sparked widespread concern about the protection of both human rights and the environment in Serbia, particularly given the reported irregularities in the assessment process. Opposition to the project has intensified, with 86 members of the Serbian National Assembly submitting a bill to ban lithium and boron mining, currently under debate.

  • Northvolt’s Struggle Threatens Europe’s Green Tech Ambitions

    Northvolt’s Struggle Threatens Europe’s Green Tech Ambitions

    Europe’s ambitions to lead in green technologies are facing serious challenges as Northvolt AB, once considered a potential rival to China’s battery giants, battles to survive. The Swedish company’s high-growth strategy, aimed at competing with the likes of CATL and BYD, has unraveled due to operational blunders, debt, and quality issues. After accumulating $55 billion in contracts from major automakers, Northvolt expanded rapidly, announcing new factories in Germany and Canada before even completing commercial production at its Swedish site. However, production setbacks, high costs, and machinery failures, along with BMW canceling a major order due to quality problems, have put the company in crisis.

    Northvolt’s decision to scale up in a wide range of battery technologies, from EV power cells to lithium-metal batteries for aircraft, added layers of complexity that it struggled to manage. Quality issues resulted in faulty cells, while delays in delivering to Volkswagen’s Scania unit further dented confidence. Health and safety concerns, including toxic chemical leaks, also compounded the company’s woes.

    Globally, overcapacity in the battery sector has driven down prices, favoring Chinese suppliers with lower costs. Chief Executive Peter Carlsson pointed to industry-wide challenges, as $1.1 trillion in investments in battery production have outstripped demand, creating a period of low prices and increased competition. Northvolt is crucial to the EU’s Net Zero Industry Act, which aims to boost European battery production, but its failure would be a major setback for the region’s green tech ambitions.