MINEX Forum

Website: Europe.com

  • Europe Must Adapt to a New Era of Geoeconomics, EU Leader Warns at Berlin Global Dialogue

    Europe Must Adapt to a New Era of Geoeconomics, EU Leader Warns at Berlin Global Dialogue

    At the Berlin Global Dialogue, European Commission President delivered a stark warning about the accelerating pace of global change, urging Europe to act swiftly to safeguard its competitiveness and independence in an increasingly fragmented world. Addressing a room of policymakers, economists, and industry leaders, she emphasized that “the world is changing faster than our policies,” calling for institutional renewal and strategic agility across the continent.

    Europe, she said, faces a dual challenge: an economic slowdown and growing strategic vulnerabilities. Yet it also possesses “exceptional assets”—its single market, strong institutions, rule of law, research excellence, and skilled workforce. To harness these strengths, she announced plans to accelerate the completion of the Single Market, simplify regulations, and create a new “28th regime” for innovative companies to scale up across all EU member states under one unified framework.

    The speech also underscored the growing fusion of economics and geopolitics. “We are in the middle of a systemic shift,” she noted, warning that economic tools—such as export controls, subsidies, and technology theft—are increasingly being used as instruments of power. To confront these trends, Europe must rethink its approach to both economic and national security, she said, highlighting the EU’s “Made in Europe” strategy, which focuses on strategic autonomy in defence, energy, and key technologies.

    She cited China’s recent export restrictions on rare earth materials as a wake-up call, revealing Europe’s dangerous dependency on external suppliers. In response, she announced the forthcoming RESourceEU initiative—modelled on the REPowerEU plan—to secure critical raw materials through recycling, joint purchasing, stockpiling, and new international partnerships. “Europe cannot afford to repeat the mistakes of the past,” she stated. “The world rewards speed, not hesitation.”

    Despite the sobering tone, the President concluded on a note of determination, citing the EU’s recent trade deals with Mercosur, Mexico, Indonesia, and Switzerland as proof of Europe’s continuing global influence. Negotiations with India and several Southeast Asian nations are also advancing. “Europe must use its geoeconomic weight to its advantage,” she said. “With urgency, independence, and courage, we will make it happen together.”

  • Cornish Lithium Becomes First UK Company to Produce Lithium Hydroxide Monohydrate

    Cornish Lithium Becomes First UK Company to Produce Lithium Hydroxide Monohydrate

    Cornish Lithium has announced that it has become the first company in the United Kingdom to produce lithium hydroxide monohydrate (LHM), a key component used in electric vehicle batteries, grid-scale energy storage, and consumer electronics.

    The breakthrough was achieved at a repurposed Сhina clay quarry in Cornwall, where the company used patented low-carbon processing technology to extract lithium from Cornish granite.

    Founder and Executive Chairman Jeremy Wrathall called it a landmark achievement for both the company and the UK’s battery industry:

    “We can test every single stage of it on an industrial scale — that’s why it is such an important day for us. Our faith in investing £10 million in this project has been vindicated.”

    The milestone marks a significant advance toward establishing a domestic lithium supply chain, a critical step as the UK transitions to electric mobility and renewable energy storage.

    Mining consultant James McFarlane praised the accomplishment, noting the rapid pace of development:

    “The company was only founded in 2016 and began exploring the hard rock potential in St Austell in 2019. To go from that to producing LHM domestically from their own deposit is a massive milestone that deserves recognition.”

    Cornish Lithium said it plans to construct a commercial-scale lithium processing and refining plant capable of producing up to 10,000 tonnes of LHM per year. The facility is expected to be operational by 2029, creating around 300 new jobs and contributing £800 million to the UK economy.

    The project is seen as a cornerstone of Britain’s effort to secure critical mineral independence and reduce reliance on imported battery materials, aligning with the UK government’s net-zero and green industrial strategies.

  • EU to Establish Critical Raw Materials Center for Joint Purchasing and Stockpiling Amid Rising Supply Risks

    EU to Establish Critical Raw Materials Center for Joint Purchasing and Stockpiling Amid Rising Supply Risks

    The European Union will set up a Critical Raw Materials Center to coordinate the joint purchasing and stockpiling of key minerals vital to industries such as defense, automotive manufacturing, and clean energy, under a new 2026 work plan unveiled by the European Commission on Tuesday.

    The initiative, described as part of Europe’s quest for “industrial sovereignty,” seeks to safeguard supplies of critical minerals and metals amid intensifying global competition and geopolitical uncertainty.

    “Our regional and global order is being redrawn. And Europe must fight for its place in a world where some major powers are either ambivalent or hostile to us,” said European Commission President Ursula von der Leyen in an address to the European Parliament.

    The planned Critical Raw Materials Center will monitor market flows, coordinate collective EU purchases, and maintain strategic reserves of essential resources — including rare earths, lithium, cobalt, and nickel — ensuring supply stability for strategic industries.

    The plan follows China’s announcement earlier this month of expanded export controls on rare-earth magnets and raw materials, citing national security concerns. Those restrictions have triggered alarm across global supply chains and prompted urgent discussions between EU trade chief Maroš Šefčovič and his Chinese counterpart to seek a path forward.

    The move also builds on the EU’s 2023 Critical Raw Materials Act, which laid the foundation for diversifying mineral imports away from China and expanding domestic extraction, refining, and recycling capacity.

    Von der Leyen said the bloc must ensure autonomy not only in raw materials but also in “critical technologies that will shape the economy of tomorrow”, citing batteries, cloud computing, artificial intelligence, and advanced materials.

    As part of the broader 2026 European Work Plan, the Commission outlined six strategic pillars:

    Sustainable prosperity and competitiveness

    Defense and security

    Social model and innovation

    Quality of life

    Democracy and rule of law

    Global engagement

    Other measures include a new “European Product Act”, updates to public procurement rules, taxation and energy deregulation, and a European anti-corruption initiative. A new action plan against cyberbullying will also be introduced.

    In parallel, the EU announced plans to withdraw 25 stalled legislative proposals in 2026 to reduce bureaucratic burdens and respond to business pressure for faster, more flexible regulatory frameworks.

    Context: China’s Dominance and Europe’s Strategic Response
    China currently controls the majority of global refining capacity for rare earths and other critical minerals. The new export restrictions — and the risk of further escalation — have pushed Europe to accelerate diversification efforts through partnerships with countries such as Kazakhstan, Canada, and Australia.

    By pooling resources and centralizing strategic oversight, Brussels hopes to shield European industries from supply shocks while strengthening its negotiating position in a more fragmented global economy.

  • Pensana Scraps £250m Rare Earth Refinery in Hull, Shifts Operations to the US

    Pensana Scraps £250m Rare Earth Refinery in Hull, Shifts Operations to the US

    Britain’s ambitions to become a critical minerals powerhouse have suffered a major setback after Pensana Plc abandoned its £250 million rare earth refinery project near Hull, opting instead to relocate operations to the United States, Sky News reported.

    The proposed refinery at Saltend Chemicals Park was intended to process rare earth elements for use in electric vehicle motors and wind turbine magnets, creating 126 jobs and serving as the centerpiece of the UK’s 2022 Critical Minerals Strategy. The project had been promised millions in government funding — funding that was never disbursed as construction failed to begin.

    Pensana’s chairman, Paul Atherley, said the move was driven by the Trump administration’s decision to guarantee purchases of rare earths from the US Mountain Pass mine at fixed prices — a level of state support he said Europe and the UK have failed to match.

    “That’s repriced the market — and Washington is looking to do more of these deals, moving at an absolute rate of knots,” Atherley said. “Europe and the UK have been talking about critical minerals for ages. But when the Americans do it, they go big and hard, and make it happen. We don’t; we mostly just talk about it.”

    The decision comes amid heightened geopolitical tensions and growing global competition for rare earth supply chains, as China — which produces about 90% of the world’s refined rare earth metals — tightens export restrictions. The announcement follows Beijing’s latest export curbs, which prompted President Donald Trump to threaten 100% tariffs on Chinese goods.

    The Hull refinery was once touted as a flagship project for the UK’s green industrial transition. During the project’s 2022 groundbreaking, then–Business Secretary Kwasi Kwarteng described it as “the only facility of its kind in Europe,” promising it would “secure Britain’s supply resilience.”

    However, Atherley said rare earth processing remains too complex, energy-intensive, and costly to be commercially viable in the UK, citing record-high industrial energy prices as a key obstacle.

    Pensana continues to pursue lithium refining plans in Teesside through its related venture Tees Valley Lithium, which Atherley described as more feasible given current economics.

    The move deals another blow to Britain’s chemicals and materials sector, already struggling with high energy costs and recent shutdowns, including the closure of Vivergo, a biofuels refinery located in the same industrial park.

    A Department for Business and Trade spokesperson called the decision “disappointing” but acknowledged it was a commercial matter for Pensana.

    “We will publish a new Critical Minerals Strategy soon to help secure our supply chains for the long term, and we’re reducing industrial electricity costs as part of our modern Industrial Strategy,” the department said.

  • Japan, Spain and South Korea Warn of Unsustainable Copper Market as Smelting Fees Collapse

    Japan, Spain and South Korea Warn of Unsustainable Copper Market as Smelting Fees Collapse

    Japan, Spain, and South Korea have issued a rare joint statement voicing alarm over the steep decline in copper treatment and refining charges (TC/RCs), warning that the current market conditions threaten the sustainability of both smelters and miners.

    The statement — released following an online meeting of the three countries’ industry ministries — comes amid mounting pressure on global copper smelters, who face shrinking profit margins due to tight concentrate supplies and growing smelting capacity in China.

    In June, several Chinese smelters agreed to process copper concentrate for Chilean miner Antofagasta at no charge, underscoring the severity of the downturn.

    “We are deeply concerned that this deterioration in TC/RCs is prompting a reassessment of copper smelting operations worldwide, with several companies already indicating intentions to scale down or withdraw from copper concentrate smelting,” the ministries said.

    TC/RCs — fees paid by miners to smelters for processing copper concentrate into refined metal — have traditionally been a key revenue stream for smelters. However, in some spot deals this year, TC/RCs have turned negative, forcing smelters to pay miners to secure feedstock.

    The ministries warned that this imbalance undermines the sustainable coexistence of smelting and mining industries and increases dependency on a narrow group of supplier countries, a scenario they described as “undesirable” for both producers and consumers.

    “We hope TC/RCs will return to sustainable levels for copper concentrate trading,” the statement said, adding that the three countries would continue engaging with stakeholders to establish a resilient and sustainable copper supply chain.

    Naoki Kobayashi, deputy director of Japan’s Ministry of Economy, Trade and Industry (METI), said the issue will be raised during LME Week in London, one of the global metals industry’s key gatherings.

    Japan’s leading copper smelters, including JX Advanced Metals and Mitsubishi Materials, have already announced plans to scale back concentrate processing due to eroding margins, reflecting a broader trend of contraction across the global smelting sector.

  • North Macedonia Revokes 45 Mining Concessions Over Legal and Environmental Breaches

    North Macedonia Revokes 45 Mining Concessions Over Legal and Environmental Breaches

    The government of North Macedonia has terminated 45 mining concessions due to violations of legal and environmental regulations, as well as unpaid fees and unauthorized transfers, Deutsche Welle’s local branch reported.

    According to the report, 34 contracts were unilaterally terminated, while 11 expired and were not renewed. The Ministry of Economy said the decision followed findings of non-compliance, including unpaid concession fees, unauthorized transfers of rights, and extraction beyond permitted zones.

    Between January and October 1, authorities conducted 170 extraordinary inspections and 78 regular checks, resulting in the enforcement measures.

    The move comes amid tightened government oversight of North Macedonia’s natural resource sector, part of a broader effort to improve transparency, environmental compliance, and responsible resource management in the country’s mining industry.

  • Mundoro Capital Grants BHP Option to Earn 100% Interest in Serbian Copper-Gold Licences

    Mundoro Capital Grants BHP Option to Earn 100% Interest in Serbian Copper-Gold Licences

    Canadian exploration and development company Mundoro Capital Inc. has granted an earn-in option to a subsidiary of BHP Group for seven copper and gold exploration licences within Serbia’s Timok Magmatic Complex, one of the most prolific mineral belts in the Tethyan region.

    Under the agreement, BHP can earn up to 100% ownership of the licences — which span 418 square kilometres — by funding US$35 million (€30 million) in exploration expenditures over ten years, the company announced on Monday.

    BHP will also make annual option payments beginning at $323,000, increasing by 2% annually, and milestone payments of $2 million each for specific resource declarations, up to a total of $10 million, or a single $10 million payment upon exercising the option if no resource is declared.

    Mundoro will initially operate the project, managing exploration activities and earning operating fees. Once BHP invests at least $20 million or completes 40,000 metres of drilling, it may assume operational control. Upon exercising the option, BHP will also start making annual advance royalty payments to Mundoro.

    To date, Mundoro and its partners have invested C$15.4 million ($11 million) into the project, which hosts multiple exploration targets. The most advanced prospects include:

    Skorusa copper-gold porphyry system, with an intercept of 201.2 metres grading 0.11% Cu and 0.11 g/t Au.

    Tilva Rosh prospect, where trenching returned 12 metres at 30.39 g/t Au and 171.27 g/t Ag.

    Other promising targets include Markov Kamen, Orlovo, D-vein, Prekostenski, Zlot 1–3, Bukova, Tilva Mare, Glavica, Bacevica North, Gorunov, Oblez SE, and Branik.

    The Timok Magmatic Complex is home to several major deposits and producing mines, including Cukaru Peki, Bor, Majdanpek, Veliki Krivelj, and Coka Rakita, positioning this partnership to further strengthen BHP’s exploration footprint in Europe’s key copper-gold corridor.

  • EU Seeks G7 Coordination to Counter China’s Expanded Rare Earth Export Controls

    EU Seeks G7 Coordination to Counter China’s Expanded Rare Earth Export Controls

    The European Union is working with the United States and other G7 partners to coordinate a response to China’s expanded export controls on rare earth minerals, senior EU trade officials said on Tuesday.

    Beijing, which dominates global production and refining of rare earths, tightened restrictions last week, adding more elements and refining technologies to its control list, along with new scrutiny for semiconductor-related exports. The move comes ahead of planned talks between Presidents Donald Trump and Xi Jinping, raising fresh concerns about supply security for key Western industries.

    European Trade Commissioner Maros Sefcovic described China’s measures as “unjustified” and said EU ministers gathered in Denmark had identified the issue as a “critical concern.”

    Previous Chinese export restrictions earlier this year caused widespread supply shortages, particularly for automakers, before temporary relief came through emergency supply agreements between Europe and the US.

    Sefcovic confirmed that G7 finance ministers are expected to discuss coordinated options on Wednesday.

    “We brainstormed yesterday that it would be advisable after this first discussion to have a G7 video call pretty soon,” he said, adding that he had already spoken with US Commerce Secretary Howard Lutnick on the issue.

    Sefcovic is also scheduled to hold talks with his Chinese counterpart early next week.

    Danish Foreign Minister Lars Rasmussen emphasized the need for a united and firm EU response, calling for solidarity with Washington.

    “We must be tough but realistic. This is an area of common interest with our friends in the US. If we stand together, we can better pressure China to act fairly,” Rasmussen said.

    While Trump’s response included a threat of 100% tariffs on Chinese imports, triggering a brief Wall Street sell-off, Rasmussen cautioned against escalation, advocating instead for “frank and open discussions” with Beijing.

    Sefcovic added that coordination among G7 nations could include joint efforts to diversify supply chains, accelerating critical mineral extraction and processing projects outside China.

    “Of course these projects take time,” he said, “but with this signal from China, it’s clear we must focus on speeding them up as much as possible.”

  • China’s Rare Earth Export Curbs Threaten to Disrupt Europe’s Auto Industry, Italian Lobby Warns

    China’s Rare Earth Export Curbs Threaten to Disrupt Europe’s Auto Industry, Italian Lobby Warns

    New Chinese restrictions on rare earth metal exports could severely impact Europe’s automotive industry, warned Roberto Vavassori, chairman of Italy’s auto parts association ANFIA, during the ForumAutoMotive conference in Milan on Tuesday.

    Despite a July agreement intended to streamline shipments to Europe, China has continued to maintain tight control over rare earth exports, recently expanding its export curbs even further. The country currently refines and processes the majority of the world’s rare earths, materials essential to key sectors including automotive manufacturing, semiconductors, and defence.

    Vavassori noted that while European manufacturers had so far managed to sustain production despite previous supply cuts, reserves of rare earth metals are now nearly exhausted.

    “That reserves’ buffer is not there anymore,” he said, warning that further disruptions could quickly ripple through Europe’s automotive supply chain.

    Rare earth elements are critical for producing electric motors and other advanced vehicle components, making them indispensable to Europe’s electric vehicle ambitions.

    Although the global rare earth industry is relatively small — valued at less than $5 billion — Vavassori emphasized that its strategic importance far outweighs its market size.

    “This small industry is capable of slowing down the entire global auto sector,” he cautioned.

  • Vulcan Energy Signs Eight-Year Lithium Supply Deal with Glencore

    Vulcan Energy Signs Eight-Year Lithium Supply Deal with Glencore

    Vulcan Energy Resources has announced a major supply agreement with mining and commodities giant Glencore, under which it will deliver 36,000 to 44,000 tonnes of lithium hydroxide monohydrate from its Lionheart Project over an initial eight-year period.

    The deal represents roughly 20% of Vulcan’s planned output from the Lionheart Project during that timeframe and marks a key milestone for the company’s Phase One project financing.

    The agreement with Glencore adds to Vulcan’s growing roster of high-profile partners, which already includes Stellantis, Umicore, and LG Energy Solution. Vulcan said the Glencore deal will be the final offtake contract needed for its first project phase, while negotiations with additional European automakers are ongoing.

    “Vulcan has now achieved a good mix of offtake partners for Phase One lithium production: an automaker, a battery maker, a cathode manufacturer, and a commodities trader, all with a strong European focus,” said Cris Moreno, CEO and managing director of Vulcan Energy.

    Located on the French-German border, the Lionheart Project is regarded as Europe’s largest lithium resource. Vulcan’s development strategy focuses on producing climate-neutral lithium to support the region’s fast-growing electric vehicle and battery industries.