MINEX Forum

Website: Europe.com

  • UK’s Approval of Deep Coal Mine Ruled Unlawful by High Court

    UK’s Approval of Deep Coal Mine Ruled Unlawful by High Court

    Britain’s High Court has ruled that the approval of the country’s first new deep coal mine in decades was unlawful, following a legal challenge from environmental campaigners. The case was brought forward by Friends of the Earthand South Lakeland Action on Climate Change, challenging the 2022 decision by the former Conservative government to approve a coking coal mine in northwest England.

    The British government decided to drop its defense after a Supreme Court ruling earlier this year, which stated that planning authorities must consider the environmental impact of burning, not just extracting, fossil fuels when making decisions. This case is the first to be decided since that ruling, marking a significant precedent.

    According to Friends of the Earth senior lawyer Niall Toru, the ruling against the mining company could have international ramifications, as similar challenges are being made against fossil fuel projects worldwide.

    West Cumbria Mining, the company behind the project, argued that the mine would be a “net zero” mine, extracting coking coal for steel manufacturing rather than for energy production. However, Judge David Holgate ruled that the assumption of no net increase in greenhouse gas emissions was legally flawed.

    West Cumbria Mining has stated it will review the implications of the High Court judgment and declined further comment.

  • Denarius Metals to Acquire 100% of Europa Metals Iberia S.L. and the Toral Project in Spain

    Denarius Metals to Acquire 100% of Europa Metals Iberia S.L. and the Toral Project in Spain

    Denarius Metals Corp. announced today that it has signed a binding letter of intent (LOI) with Europa Metals Ltd. (AIM: EUZ) to acquire 100% of the issued and outstanding shares of Europa Metals Iberia S.L. (EMI), a subsidiary of Europa Metals. The Toral Zn-Pb-Ag Project, located in the Leon Province of Northern Spain, will become a key asset of Denarius Metals through this transaction. The closing is expected by October 31, 2024.

    Serafino Iacono, Executive Chairman and CEO of Denarius Metals, highlighted that the acquisition aligns with the company’s strategy to produce low-carbon metals within the European Union. The Toral Project, known for its potential as a long-life underground mining operation, could supply material to the company’s 5,000 tpd processing plant at the Aguablanca Project in Spain. An updated Mineral Resource estimate and preliminary economic assessment are expected later this year for the Toral Project.

    Denarius Metals has already invested US$3.1 million in exploration at the site through a loan agreement with Europa. As part of the exploration efforts, the company conducted 6,200 meters of drilling in 2023, which intersected mineralization within the Indicated Resource block. In 2023, Denarius also filed a formal mining license applicationfor the Toral Project.

    The purchase price for EMI will consist of the amounts advanced under the Loan Agreement and an additional CA$3.5 million in the form of 7,000,000 common shares issued at CA$0.50 per share. These shares will be subject to a four-month hold period. The Option Agreement and Loan Agreement will be terminated upon closing, and the deal is subject to board, shareholder, and regulatory approvals.

  • Uzbekistan and Germany Strengthen Cooperation on Critical Mineral Resources and Industrial Projects

    Uzbekistan and Germany Strengthen Cooperation on Critical Mineral Resources and Industrial Projects

    Uzbekistan and Germany have engaged in discussions to enhance collaboration on the development and deep processing of critical mineral resources, as well as the production and export of high value-added goods. This was a key topic during a meeting between Uzbek President Shavkat Mirziyoyev and German Chancellor Olaf Scholz, held in Samarkand with representatives from leading companies and banks from both nations.

    The discussions involved prominent figures such as Michael Kellner, Germany’s Parliamentary State Secretary for Economic Affairs and Climate Action, and Michael Harms, Managing Director of the Eastern Committee of German Industry. Major German companies like KNAUF, Siemens Energy, Linde Group, and Aurubis participated, along with financial institutions such as KfW Development Bank and AKA Bank.

    The meeting highlighted the successful outcomes of high-level negotiations, supporting Uzbekistan’s strategic priorities for economic transformation and sector modernization. Both sides agreed on measures to accelerate joint investment projects and trade agreements under a new Program for Industrial and Technological Partnership. Key sectors identified for collaboration include green energy, chemical industry, green hydrogen, machine engineering, textile industry, and pharmaceuticals.

    President Mirziyoyev and Chancellor Scholz emphasized the importance of continuing joint projects in sectors such as construction materials, metallurgy, energy, transportation infrastructure, and agriculture. Scholz’s official visit to Uzbekistan took place on September 15-16, further strengthening bilateral ties.

  • Sibanye-Stillwater Explores New Caledonia’s Prony Resources for Nickel Supply

    Sibanye-Stillwater Explores New Caledonia’s Prony Resources for Nickel Supply

    Sibanye-Stillwater, a Johannesburg-based precious metals producer, is exploring New Caledonia’s Prony Resources as a potential supplier of nickel for its battery-grade material production at the Sandouville plant in France. The company is also considering Indonesia as another source for mixed hydroxide precipitate (MHP), a crucial material for electric vehicle batteries.

    Prony Resources, which operates a nickel mine and hydrometallurgical processing plant, has been seeking investors amid its struggles. However, Sibanye’s spokesperson, James Wellsted, clarified on Tuesday that the company is not looking for acquisitions but is focused on securing feedstock for its planned Sandouville conversion. The project aims to shift the plant towards processing battery-grade nickel as part of the company’s push into green energy.

    A team from Sibanye is currently in New Caledonia to evaluate Prony as a supplier, especially given Prony’s existing contract with Tesla to supply MHP for electric vehicle batteries. Meanwhile, local media reports suggest advanced talks between Sibanye and Prony, though Sibanye has yet to confirm any formal acquisition discussions.

    New Caledonia’s nickel sector has faced significant challenges this year, with operations halted at Prony since May due to unrest in the French-controlled territory. Prony declined to comment on the situation.

  • Western Nations Urged to Sever Ties with Russia’s Nuclear Giant Rosatom

    Western Nations Urged to Sever Ties with Russia’s Nuclear Giant Rosatom

    Despite Rosatom’s involvement in Russia’s occupation of Ukraine and its significant role in expanding the Kremlin’s global influence, some Western countries continue to engage in business with the state nuclear corporation. Rosatom has been instrumental in the capture and management of Ukrainian nuclear facilities, including the Chornobyl Exclusion Zone and the Zaporizhzhia Nuclear Power Plant (ZNPP), which was seized by the Russian military in March 2022. With Rosatom staff actively involved in the plant’s operations under Russian supervision, there have been credible reports of the company playing a complicit role in detention and torture of Ukrainian workers at the ZNPP.

    Rosatom’s influence extends beyond Ukraine. It remains a key supplier of nuclear material and technology to countries worldwide, including EU and NATO members. Despite recent US sanctions and European efforts to diversify, Rosatomcontinues to supply 38% of enrichment services to European utilities, while countries like Hungary and Francemaintain contracts with the company.

    The ongoing reliance on Rosatom by Western countries raises concerns over both moral dissonance and energy security. Cutting ties with Rosatom is not only necessary to align support for Ukraine with action but is also crucial to curb Moscow’s long-term political influence via the nuclear sector. With Rosatom’s growing presence in key projects such as the Akkuyu Nuclear Power Plant in Turkey and the Hungarian reactors, experts argue that the time has come for Western nations to step up their efforts to replace Russian nuclear technology and fuel with viable alternatives.

  • UK Court Rules Approval of New Deep Coal Mine Unlawful

    UK Court Rules Approval of New Deep Coal Mine Unlawful

    The High Court of London has ruled that Britain’s approval of its first new deep coal mine in decades was unlawful. This decision comes after a legal challenge from Friends of the Earth and South Lakeland Action on Climate Change, who contested the 2022 approval by the previous Conservative government for a coking coal mine in northwest England. The ruling follows a Supreme Court decision earlier this year, which clarified that planning authorities must take into account the environmental impact of burning fossil fuels, not just their extraction, when approving projects.

    Despite the British government dropping its defense, West Cumbria Mining, the project’s developer, continued to argue that the mine, intended to extract coking coal for steel manufacturing rather than electricity generation, would be a “unique ‘net zero’ mine.” However, Judge David Holgate rejected this claim, stating that the assumption that the mine would not result in a net increase in greenhouse gas emissions was legally flawed.

  • Boliden Faces Delays and Increased Costs in Odda Zinc Smelter Expansion

    Boliden Faces Delays and Increased Costs in Odda Zinc Smelter Expansion

    Swedish mining company Boliden announced on Thursday that the expansion of its Odda zinc smelter in Norway will take longer than initially expected due to delays in construction work. The cost of the project is now expected to rise by an additional 100 million euros ($110.16 million). Originally, Boliden had planned to expand the plant’s annual production capacity from 200,000 tonnes to 350,000 tonnes.

    The company confirmed that the ramp-up towards the new production level will begin at the end of the first quarter of 2025, a delay of around three months compared to earlier projections. Full output is expected to be reached later in 2025. Despite the delay, Boliden has maintained its capital expenditure forecast for 2024 at 15.5 billion Swedish crowns($1.49 billion) and set its estimated capex for 2025 at 13.5 billion crowns.

  • UN Expert Panel Issues Guidelines for Just and Equitable Energy Transition

    UN Expert Panel Issues Guidelines for Just and Equitable Energy Transition

    A United Nations panel of experts has published a comprehensive set of recommendations and guidelines for governments and mining companies aimed at safeguarding human rights, justice, and equity during the global race for energy transition minerals. The report, titled Resourcing the Energy Transition: Principles to Guide Critical Energy Transition Minerals towards Equity and Justice, outlines ways to ensure that the shift to renewable energy promotes sustainable development, protects the environment, and fosters prosperity in resource-rich developing nations.

    UN Secretary-General António Guterres, who convened the panel in April, emphasized that the report acts as a “how-to guide” for generating both prosperity and equality alongside clean energy, noting the critical timing as demand for minerals is projected to nearly triple by 2030. Among the panel’s key proposals are the establishment of a UN expert advisory group to facilitate policy dialogue on mineral value chains, a global transparency and accountability framework, and the creation of a fund to address issues stemming from abandoned or derelict mines.

    The report also highlights the need to empower artisanal and small-scale miners as agents of change, promoting environmental protection and human rights. It stresses the importance of enhancing material efficiency and supporting the role of the UN as a neutral convener in achieving the goals of the Paris Agreement. The Secretary-General has instructed the panel to present its findings to member states and other stakeholders ahead of the COP29 conference later this year.

  • Lundin Mining’s European Assets Attract Interest from Multiple Buyers

    Lundin Mining’s European Assets Attract Interest from Multiple Buyers

    Canadian metals producer Lundin Mining is exploring the sale of its European assets, with several potential buyersexpressing interest. CEO Jack Lundin confirmed in a Tuesday interview in Vancouver that the company’s oldest operations in Sweden and Portugal—the Zinkgruvan and Neves-Corvo mines—are now considered non-core. “We have a lot of interested parties looking at our European assets,” Lundin said, adding that the company is evaluating whether selling these mines will unlock greater value.
    The mines, which contributed 19% of Lundin’s revenue last year, were put on the market earlier this year as Lundin shifts its focus to Latin America. The company has already moved forward on projects in South America, including a joint venture with BHP Group to acquire Filo in July, a key step in developing large copper mines in Argentina.
    Lundin aims to complete the sale of the European mines within the next year, noting the need for a swift process to avoid unnecessary distractions. “We don’t want this to drag on for more than six to 12 months longer,” he emphasized.

  • Rio Tinto CEO Seeks to Reassure Serbian Locals Amid Lithium Mining Controversy

    Rio Tinto CEO Seeks to Reassure Serbian Locals Amid Lithium Mining Controversy

    The CEO of Anglo-Australian miner Rio Tinto, Jakob Stausholm, aimed to ease concerns during his visit to Serbiaon Saturday regarding the company’s controversial lithium mining project. Serbia boasts significant lithium reserves near the western town of Loznica, but the project has faced ongoing political and environmental opposition.

    Stausholm met with local residents in Ljubovija alongside Serbian President Aleksandar Vucic and promised to protect both the environment and the local population. “The biggest challenge for us is to win the trust of you who live here,” Stausholm said, emphasizing the company’s commitment to safety and environmental protection, including the safeguarding of water, soil, and natural habitats.

    President Vucic is on a five-day tour of the region where the mine would be located, engaging in discussions with local communities. He acknowledged the difficulty of the talks but expressed optimism for a productive dialogue.

    In July, Serbia’s top court overturned an earlier government decision that had halted the project following large-scale protests in 2021. This ruling reignited demonstrations across the country, with the largest in early August drawing tens of thousands to the streets of Belgrade, where key roads and train stations were blocked. Despite the ongoing unrest, the Serbian government signed a memorandum of understanding with the EU in July, marking the first step toward developing the country’s lithium resources.