MINEX Forum

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  • Critical Elements Lithium Expands Rose West Discovery in Québec

    Critical Elements Lithium Expands Rose West Discovery in Québec

    Critical Elements Lithium (TSX-V:CRE) has announced significant advancements in its phase two summer drilling program at the Rose West Discovery, located in Eeyou Istchee, Québec, Canada. The latest drilling results indicate a substantial increase in the mineralised footprint, now measuring 1,250 metres by 800 metres. This expansion is part of a systematic drilling initiative that aims to cover a total of 10,000 metres around the wholly owned discovery site.

    The company has successfully completed 18 drill holes, amounting to approximately 3,000 metres, with promising assay results emerging from the recent explorations. Notably, hole RW-26-36 revealed an impressive 2.05% lithium oxide (Li2O) and 221 parts per million (ppm) tantalum pentoxide (Ta2O5) over a 7.70-metre interval through Pegmatite 5. Additionally, the same hole also intersected 1.46% Li2O and 176 ppm Ta2O5 over 23.35 metres through Pegmatite 3, which included a peak of 2.12% Li2O and 147 ppm Ta2O5 over a 6-metre section.

    Further drilling results from hole RW-26-37 showed 1.32% Li2O and 157 ppm Ta2O5 over 13.25 metres through Pegmatite 5, alongside 0.94% Li2O and 258 ppm Ta2O5 over 22.40 metres through Pegmatite 3. The phase two drilling program has successfully expanded the mineralised footprint by an additional 300 metres by 300 metres, enhancing the thickness of Pegmatites 5, 3, and 2, which now range from 10 to 30 metres.

    Critical Elements has received assay results for 11 previously drilled holes, with an additional seven holes currently being prepared for assaying. The Rose West Discovery is situated approximately 10 kilometres west of the Rose Lithium-Tantalum Project, which was initially intercepted in winter 2024 over a footprint of 450 metres by 370 metres. As a Canadian critical minerals explorer, Critical Elements Lithium is advancing a diverse portfolio of properties across the Nemaska Belt, including its flagship Rose Lithium-Tantalum Project and the newly expanded Rose West discovery.

  • Building Trust: The Key to Successful Mining Projects in Europe

    Building Trust: The Key to Successful Mining Projects in Europe

    In a recent interview with Aspermont’s Mining IQ, John Heasley, Chief Financial Officer of Anglo American, emphasised the critical role of trust in the successful development of mining projects in Europe. He highlighted that while the mining industry has made significant strides in improving safety, social, and environmental standards, many projects still face challenges due to a lack of public support. Heasley pointed out that the industry is often perceived negatively, particularly in regions where mining has not been a recent activity, such as Europe. In contrast, countries like Chile, where mining is deeply integrated into the economy, demonstrate higher levels of public trust and support for mining operations.

    Heasley noted that public attitudes towards mining can vary significantly, with communities that have direct interactions with mining operations generally expressing more support. He cited Anglo American’s successful operations in Chile, where the company has been recognised as one of the most attractive employers, as an example of how positive engagement can lead to improved perceptions of the industry. The Leadership Insights 2026 report, which features insights from 13 industry executives, reveals that half of mining professionals rate overall trust in the sector as low, highlighting the need for continued efforts to build and maintain trust.

    The report also discusses the economic implications of negative public perceptions, including delays in project approvals and challenges in securing community support. Heasley stressed that a positive reputation is essential for obtaining and sustaining a licence to operate, as demonstrated by the successful launch of the Quellaveco mine in Peru, which benefited from extensive community engagement.

    As the demand for critical minerals rises due to the energy transition, Heasley expressed hope that public awareness of the importance of mining will improve perceptions of the industry. However, he cautioned against compromising environmental and social standards in the rush to accelerate mining approvals, emphasising that maintaining high standards is crucial for rebuilding public trust. He concluded by reiterating the importance of demonstrating the advancements in modern mining practices, which are significantly different from those of the past, as a means of fostering trust and support for future projects in Europe and beyond.

  • European Lithium Advances Proposed Acquisition by Critical Metals Corp.

    European Lithium Advances Proposed Acquisition by Critical Metals Corp.

    European Lithium (ASX:EUR) is making significant strides towards a proposed all-stock acquisition by Critical Metals Corp., which aims to merge European Lithium’s Wolfsberg Lithium Project in Austria with Critical Metals’ extensive critical-minerals portfolio. This acquisition could mark a pivotal shift for European Lithium, potentially ending its separate ASX-listed structure. Investors are now focused on the approval of the scheme, the completion of the transaction, and future project developments.

    The acquisition is structured under court-approved schemes of arrangement as outlined in Part 5.1 of Australia’s Corporations Act. This move is expected to simplify the existing corporate structure between the two companies. European Lithium had previously contributed its Wolfsberg Lithium Project to Critical Metals when the latter listed on Nasdaq, retaining a significant shareholding. The proposed scheme would allow European Lithium shareholders to directly receive shares in Critical Metals, leading to European Lithium’s exit from the ASX following the transaction’s implementation.

    On 19 August 2026, the transaction terms were amended to introduce a floating share exchange ratio linked to Critical Metals’ share price. Under this revised structure, European Lithium shareholders will receive a variable number of Critical Metals shares, depending on the company’s volume-weighted average price (VWAP). This ratio ranges from 0.045 shares per European Lithium share at a VWAP of US$8.00 or below, to 0.025 shares when the VWAP reaches US$16.00 or above. Critical Metals has indicated that this adjustment aims to balance the interests of both shareholder groups while mitigating the impact of short-term share-price fluctuations.

    The transaction is contingent upon shareholder and court approvals, alongside regulatory requirements and other customary conditions. European Lithium, currently a pre-revenue exploration and holding company, is primarily valued based on its project development activities and its investment position rather than operational income. The Wolfsberg Lithium Project is central to its valuation, especially in light of the proposed acquisition.

    Critical Metals has also been advancing funding initiatives for its Tanbreez rare-earth project in Greenland, which includes efforts towards project development financing and accelerated work programmes. For European Lithium shareholders, the future value will depend heavily on the performance of Critical Metals, the progress of the Wolfsberg project, and the successful completion of the acquisition.

    Management at Critical Metals views this acquisition as a strategic consolidation of critical-minerals assets under a single Nasdaq-listed platform. The combination of the Wolfsberg lithium project and the Tanbreez rare-earth project is seen as a significant step in enhancing operational capabilities and access to funding.

    Investor focus has shifted towards the execution of the transaction rather than merely the underlying commodity themes. The amended floating exchange ratio is crucial, as the final value for European Lithium shareholders will be influenced by Critical Metals’ share price leading up to the implementation. The muted market reaction following the amendment indicates that investors are carefully evaluating completion risks, valuation implications, and the overall outlook for the combined entity.

    Looking ahead, key milestones include the release of the scheme booklet and an independent expert report, followed by shareholder voting and court approval processes. The timeline for completion will depend on the satisfaction of transaction conditions and the successful progression of the proposed scheme. Beyond the merger, investors will keep a close eye on developments within Critical Metals’ portfolio, including advancements at Wolfsberg, financing initiatives for Tanbreez, and potential commercial partnerships. The performance of Critical Metals’ share price will remain a critical factor, as it directly affects the exchange ratio outcome.

    However, risks remain, particularly concerning the potential failure of the transaction, which requires shareholder and court approvals, as well as the satisfaction of other conditions. The floating exchange ratio introduces uncertainty, as the final consideration for European Lithium shareholders is tied to Critical Metals’ share price movements. Both companies are also exposed to developmental risks associated with early-stage critical-minerals projects, including permitting, financing, and execution challenges. Market conditions for commodities, particularly lithium prices, will play a significant role in shaping the outlook for the Wolfsberg project and influencing investor sentiment towards critical-minerals ventures.

    In summary, European Lithium is entering a crucial corporate phase with the proposed acquisition by Critical Metals, which could reshape its investment outlook. The key factors to watch include the approval of the scheme, the implications of the amended exchange ratio for shareholder value, and Critical Metals’ ability to advance its combined lithium and rare-earth portfolio successfully. Investors are now more focused on the future prospects of the broader Critical Metals platform rather than viewing European Lithium as a standalone entity.

  • The four reasons why China dominates critical mineral processing (Bryan Bille, RAW MATTERS S1:E7)

    The four reasons why China dominates critical mineral processing (Bryan Bille, RAW MATTERS S1:E7)

    “The four reasons why China dominates critical mineral processing”, dixit Bryan Bille in the RAW MATTERS podcast (S1:E7)

    As we gear up for Season 2 of RAW MATTERS, we’re revisiting some of the sharpest insights from Season 1. In this short clip, Bryan Bille (Benchmark Mineral Intelligence) explains why China built such a commanding lead in the processing of critical minerals, the crucial midstream step that powers batteries, magnets and clean-tech supply chains. A must-watch if you’re serious about Europe’s industrial future.

    ▶️ Raw Matters – S1:E7 – “Do we really need 293 new (critical mineral) mines – or just a new mindset?” [Bryan Bille, Julia Poliscanova & Peter Tom Jones – RM S1:E7]

    Watch full episode here: • “Do we really need 293 new (critical miner…
    In this explosive episode, Julia Poliscanova and Peter Tom Jones sit down with Bryan Bille, Policy & Geopolitical Lead at Benchmark Mineral Intelligence, to break down the hard truths behind supply, demand, geopolitics, and China’s overwhelming critical minerals dominance. From BMI’s headline figure of 293 new mines needed by 2030, to Europe’s chronic inability to turn MoUs into real projects, this conversation cuts through the noise and exposes the structural weaknesses shaping the next decade of EVs, batteries, magnets and clean tech supply chains. We tackle the big questions:
    Do we truly need 293 new (Cu, Li, Ni, graphite…) mines by 2030 – and where will they be built?

    Are recycling and demand side measures enough, or political fantasy?

    Why does China still control the upstream, midstream and the pace of the transition?

    Can Europe derisk and diversify supply chains, collaborating with the likes of Kazakhstan & Uzbekistan, or will the EU miss the metaphorical (CRM synchronization execution) bus for good?

    What tools – from CRMA to IAA to real public private partnerships – could finally make Europe competitive? If you care about the geopolitics of cleantech, this is an episode you cannot afford to miss.

  • How to make European Metals Great(er) Again? [James Watson, Julia Poliscanova, Peter Tom Jones RM#10]

    How to make European Metals Great(er) Again? [James Watson, Julia Poliscanova, Peter Tom Jones RM#10]

    How to make European Metals Great(er) Again? [James Watson, RAW MATTERS #10]

    A mine without a refinery is just a hole in the ground.
    Time to dive into the refining – and broader midstream – side of Europe’s mine-to-cleantech supply chains. Let’s not beat about the bush: Europe’s metal sector is under serious pressure. So how do we move from surviving to thriving?

    In this new RAW MATTERS episode, hosts Peter Tom Jones and Julia Poliscanova welcome James Watson, Director General of European Metals, for a no-nonsense discussion on the current state and future of Europe’s metals sector.

    🔥 What we unpack in this episode:
    1. Europe’s midstream problem – and why it matters
    Refining is the choke point of the entire value chain, where China’s dominance really hurts (from lithium to copper, from nickel to aluminium). Yet margins are collapsing, global competition is fierce, and even industry leaders are questioning the viability of European smelters (cf. Trafigura’s CEO Richard Holtum at the EIT RM Summit)

    2. A dangerous disconnect across the value chain
    We connect the dots between:
    • Upstream: limited domestic mining & fragile sourcing
    • Midstream: struggling refining capacity and pCAM/CAM production
    • Downstream: an automotive sector under pressure

    3. Europe is leaking its own resources
    Scrap. Black mass. Secondary materials. The paradox of the circular economy: while Europe talks recycling, strategic materials are flowing out of the continent.
    “China sucks away the scrap from our urban mines, starving our smelters,” says Watson.

    4. Policy ambition vs. industrial reality
    CRMA. NZIA. Circular Economy Act. IAA.
    Europe excels at setting ambition – but execution lags behind. Two years in, progress on strategic projects is… underwhelming. And the clock is ticking. Will Europe miss the bus?

    💡 The core message?
    Critical raw materials are not just commodities.
    They are synchronisation assets – linking mining, refining, manufacturing, energy, defence, and finance. And Europe’s real challenge is not geology. It’s governance, coordination, and industrial courage.

    🎧 If you care about Europe’s industrial future, this is one you cannot miss.

  • The Umicore perspective on why battery recycling isn’t scaling in Europe (yet) /Cédric Demonthy, RM#8

    The Umicore perspective on why battery recycling isn’t scaling in Europe (yet) /Cédric Demonthy, RM#8

    To recycle or not to recycle lithium‑ion batteries in Europe? That’s no longer a theoretical question – it’s a strategic one.

    In this episode of RAW MATTERS, hosts Peter Tom Jones and Julia Poliscanova sit down with Cédric Demonthy, Vice-President of Battery Recycling Solutions at Umicore, to unpack one of the most critical – and misunderstood – pillars of Europe’s clean energy transition. From cutting-edge technology to hard economic realities, this conversation goes far beyond the usual optimism around circularity.

    What you will learn in this episode:
    • Why Europe already has world-class battery recycling technology – but still struggles to scale it
    • The logic behind Umicore’s pyro‑(lean) hydrometallurgical approach, and why it remains superior in terms of technical and environmental performance
    • The fundamental difference between NMC and LFP recycling, and why not all batteries are equal in a circular economy
    • Why the real bottleneck is not technology, but economics – including feedstock scarcity and weak market demand (in the EU)
    • How black mass leakage to Asia undermines Europe’s circular ambitions
    • What lessons Europe should draw from the Northvolt debacle
    • Why policy, enforcement, and investment certainty will determine whether recycling actually happens at scale

    The key takeaway?
    Battery recycling in Europe is technically feasible – but economically fragile. Without alignment, consistent rules, and real control over material flows, Europe risks exporting its waste… and re-importing the value. This isn’t about adding more frameworks – it’s about clarity: setting the course, sticking to it, and making the system work in practice. If Europe wants to build a truly strategic battery ecosystem, closing the loop is not optional – it’s essential.

    RAW MATTERS is your go-to podcast on the geopolitics, sustainability, and industrial strategy of critical raw materials shaping our common future.

  • EU Risks Falling Behind US in Securing Critical Minerals for Defence and Green Technologies

    EU Risks Falling Behind US in Securing Critical Minerals for Defence and Green Technologies

    The European Union (EU) is facing significant challenges in its efforts to secure critical minerals essential for defence and green technologies, with concerns that it is lagging behind the United States in this crucial race. European officials and industry leaders have expressed alarm over the EU’s slow progress in developing a robust supply chain for rare earth metals and other vital materials, particularly as the US has ramped up its investments and strategic initiatives in recent years.

    Since 2022, the US has committed approximately $40 billion (€34.22 billion) to mineral projects, actively taking equity stakes in domestic mining companies and lobbying for American firms to secure mining tenders in resource-rich countries such as the Democratic Republic of Congo and Kenya. This aggressive approach has positioned the US as a formidable player in the global minerals market, particularly in areas where China currently holds a dominant position.

    In contrast, the EU has earmarked around €6 billion for minerals projects this year and has initiated several strategic projects aimed at expediting permitting processes. However, industry experts argue that these efforts are insufficient and too slow to make a meaningful impact. Bernd Schäfer, CEO of EIT RawMaterials, highlighted the need for the EU to adopt a more decisive and proactive stance, stating that while the US swiftly implements ideas, Europe tends to hesitate and over-regulate, resulting in lost time.

    The US is also working to establish a coalition of nations to create supply chains that circumvent reliance on China, through initiatives like the Forum on Resource Geostrategic Engagement (Forge). However, this has raised scepticism within Brussels, particularly given the historically antagonistic relationship between the US and the EU under the Trump administration. European officials stress the importance of not being misled by US negotiations and emphasise the need for the EU to adopt similar strategies to secure critical minerals, including swift financial investments and offtake agreements.

    Despite the EU’s focus on designating strategic projects in mining, processing, and recycling, these initiatives lack guaranteed public funding, which further complicates their viability. The Trump administration’s substantial investments in the US supply chain, including a notable $400 million equity investment in US rare earths producer MP Materials, have raised concerns that the EU could become overly dependent on the US for critical minerals, mirroring its current reliance on China.

    Experts have noted that the US has executed more deals in the past 18 months than Europe has in the last decade, raising alarms about the EU’s ability to meet its 2030 targets for domestic mineral supply development. The European Court of Auditors has warned that while 75 strategic projects have been identified, many are unlikely to deliver timely results. A mining executive involved in one of these projects described the EU’s financial support as disappointing and noted that the complexity of obtaining permits remains a significant barrier to progress.

  • Greenland Mines Secures Approval for Sarfartoq Rare Earth Project Acquisition

    Greenland Mines Secures Approval for Sarfartoq Rare Earth Project Acquisition

    Greenland Mines (NASDAQ: GRML) announced on Friday that it has received formal approval from the Government of Greenland, through the Ministry of Business and Mineral Resources (Naalakkersuisut), for the indirect transfer of the Mineral Exploration License for the Sarfartoq carbonatite complex. This approval marks a significant milestone in the company’s acquisition of the Sarfartoq project from Neo Performance Materials for $35 million, satisfying one of the key regulatory closing conditions.

    The Sarfartoq project is touted as one of Greenland’s most advanced and compelling rare earth projects, primarily due to its high-grade deposits and favourable Arctic logistics. Located approximately 60 km from Kangerlussuaq in southeastern Greenland, the project features a carbonatite-hosted deposit that is notably enriched in Neodymium-Praseodymium (Nd-Pr).

    The project is backed by over 15 years of exploration efforts, including more than 23,000 meters of drilling, and carries a historic NI 43-101 Mineral Resource Estimate alongside a Preliminary Economic Assessment. According to the company, the historic resource indicates approximately 27 million kg of Nd oxides and 8 million kg of Pr oxides, concentrated within a zone containing 5.88 million tonnes of indicated material grading 1.77% total rare earth oxides (TREO) and 2.46 million tonnes inferred grading 1.59% TREO.

    Bo Møller Stensgaard, president of Greenland Mines, expressed optimism regarding the approval, stating, “This approval from the Government of Greenland is a fundamental milestone for our company and for the future of Sarfartoq. It reflects the strength of our relationships in Greenland and the confidence the Government places in our team to advance this project responsibly.”

    Stensgaard further emphasised the significance of the Sarfartoq project, calling it one of the most important undeveloped neodymium-praseodymium resources in the Western world. He highlighted that this approval is a foundational step towards establishing a genuine, Western-aligned rare earth supply chain from Greenland.

    Following the announcement, Greenland Mines’ stock surged, closing the day up over 22% on NASDAQ, with the company now holding a market capitalisation of $31.4 million. This positive market reaction underscores investor confidence in the potential of the Sarfartoq project and its implications for the rare earth supply chain in the region.

  • European Lithium and Critical Metals Corp: A Market-Driven Merger with Variable Exchange Rate

    European Lithium and Critical Metals Corp: A Market-Driven Merger with Variable Exchange Rate

    The merger between European Lithium and Nasdaq-listed Critical Metals Corp has taken a complex turn with the introduction of a variable exchange ratio linked to the price of CRML shares. This new structure, which replaces the original fixed exchange ratio, allows for a dynamic calculation that can either enhance or diminish the value for shareholders depending on the fluctuating stock price of CRML. Investors are now faced with a situation where the exchange ratio can range from 0.025 to 0.045 CRML shares for each European Lithium share, contingent on CRML’s stock price falling within a specified band of USD 8 to USD 16.

    As of the latest trading session, European Lithium shares experienced a decline of 1.86 percent, while Critical Metals Corp saw a slight increase of 2.11 percent. This divergence highlights the differing market perceptions of the revised merger terms. The situation is further complicated by a recent downgrade from Freedom Broker, which lowered its price target for CRML from USD 17 to USD 8, raising concerns about the viability of the merger for European Lithium shareholders.

    European Lithium’s primary asset, the Wolfsberg lithium project in Austria, has yet to generate revenue, and the company has never issued dividends. The focus has shifted towards the 92.5 percent stake in the Tanbreez project in Greenland, where a significant drilling program is currently underway. This transition means that any changes to the exchange ratio will directly affect how much exposure Austrian shareholders have to the Greenland project.

    Despite the recent fluctuations, European Lithium’s stock has shown a remarkable recovery, up 109 percent since the start of the year. However, the volatility remains high, with annualized volatility reaching 100 percent, indicating ongoing uncertainty in the market. The broader environment for critical minerals projects in Europe is also challenging, with increasing local opposition to new mining initiatives, as seen in the Jadar lithium project in Serbia.

    The merger process is still ongoing, with court and security holder approvals pending. The Scheme Booklet, which will provide an independent expert’s assessment of the transaction, is expected to be released in early September. This document could significantly influence the market’s perception of the merger’s value. The completion target for the merger remains set for October 2026, contingent upon receiving the necessary approvals. Until then, the floating exchange rate mechanism will closely tie European Lithium’s valuation to the performance of CRML shares on the Nasdaq, making the outcome of this merger highly dependent on the stock’s daily fluctuations.

  • Goldsky Resources Initiates Metallurgical Testing at Barsele Project in Sweden

    Goldsky Resources Initiates Metallurgical Testing at Barsele Project in Sweden

    Goldsky Resources Corp, a publicly listed gold exploration company, has announced the commencement of metallurgical test work on composite samples from its Barsele Project in Sweden. The samples, weighing a total of 345 kg, have been sent to Alfred Knight in Truro, United Kingdom, for analysis. This test work is crucial for determining the power requirements and reagent dosage necessary for the project, which is expected to contribute significantly to the Preliminary Economic Assessment (PEA) scheduled for publication in 2027.

    The metallurgical testing will encompass a range of assessments, including crusher comminution tests, Bond rod mill and ball mill tests, gravity gold recovery tests, gold leach kinetic tests, and detoxification tests. These tests are designed to provide essential data that will inform the resource update at Barsele, which is currently host to an Indicated Mineral Resource of 7.88 million tonnes grading 1.27 g/t Au and an Inferred Mineral Resource of 28.75 million tonnes grading 1.98 g/t Au.

    Russell Bradford, CEO of Goldsky Resources, expressed enthusiasm about the initiation of this metallurgical test program, highlighting its importance for the company’s future operations and resource assessment. The entire program is expected to take approximately 16 weeks, with results to be released to the market as they become available.

    Goldsky Resources is consolidating assets in Sweden and Finland, with the Barsele Project being its flagship asset. The company holds a district-scale license position surrounding Barsele, covering around 80,000 hectares on Sweden’s Gold Line greenstone belt, which includes two additional projects, Paubäcken and Storjuktan. In Finland, Goldsky Resources owns the entire underexplored Oijärvi greenstone belt, including the Kylmäkangas deposit, the largest known gold occurrence in that region, as well as the Rajapalot gold-cobalt project in northern Finland.

    As the mining industry continues to evolve, the results from Goldsky’s metallurgical tests could play a pivotal role in shaping the future of the Barsele Project and the company’s strategic objectives in the region. Investors and stakeholders are keenly awaiting the outcomes of these tests, which are expected to provide valuable insights into the project’s economic viability and operational efficiency.