MINEX Forum

Website: Europe.com

  • European Lithium Nets $50 Million from Partial Sale of Critical Metals Stake

    European Lithium Nets $50 Million from Partial Sale of Critical Metals Stake

    European Lithium (ASX: EUR) has generated an additional $50 million (A$76 million) through the sale of 3.85 million shares in Nasdaq-listed Critical Metals Corp (CRML) to a single U.S. institutional investor.

    The off-market transaction was executed at $13 per share, representing a 12% discount to CRML’s Friday closing price of $14.98. The sale follows a notable surge in CRML’s share price and trading activity on the Nasdaq, reflecting strong investor confidence in the company’s strategic position within the global critical minerals market.

    Executive chairperson Tony Sage said the deal underscored the robust demand for CRML stock.

    “The recent price increase and the large trading volumes on the Nasdaq show the demand for CRML shares is huge,” Sage commented.

    Following the sale, European Lithium retains 56 million CRML shares, valued at approximately $854 million (A$1.29 billion) based on the latest closing price.

    “The company’s holding in CRML equates to A$0.89 per EUR share,” Sage added. “EUR also holds a direct 7.5% interest in the Tanbreez project, and given CRML’s current market valuation of A$2.3 billion, this equity interest is very strategic.”

    European Lithium continues to advance its exploration and development portfolio across Austria, Ireland, Ukraine, and Australia, focusing on lithium and rare earth elements critical to the clean energy transition.

    Meanwhile, Critical Metals Corp (CRML) is strengthening its position as a major supplier of critical minerals to Western markets. Its flagship Tanbreez rare earth project in Greenland ranks among the world’s largest deposits, while its Wolfsberg lithium project in Austria—the first fully permitted lithium mine in Europe—is expected to play a key role in supporting the region’s battery and electric vehicle industries.

    CRML also holds a 20% interest in several Austrian mineral projects previously owned by European Lithium, building what it describes as a “strategic asset portfolio” supporting next-generation technologies and the global energy transition.

  • Germany Expects EU Approval for €1.75 Billion Coal Exit Compensation to LEAG

    Germany Expects EU Approval for €1.75 Billion Coal Exit Compensation to LEAG

    The German government expects the European Commission to give the green light “within weeks” for €1.75 billion in compensation payments to LEAG, the lignite mining and power company operating in eastern Germany. The payments form part of Germany’s broader coal phase-out plan, which aims to end coal-fired power generation by 2038 at the latest, according to the Ministry for Economic Affairs and Climate Action (BMWK).

    The legislative changes needed to unlock the funds were recently approved by Germany’s coalition government. The compensation package, first agreed in 2020, had faced delays in Brussels due to differences over the timeline for the eastern German coal exit, which lags behind the 2030 phase-out already underway in western Germany.

    Under the revised plan, LEAG, owned by Czech energy group EPH, will receive €377 million to reimburse earlier payments into funds for recultivation of mining areas. From 2025 to 2029, the company is set to receive €91.5 million per year in additional payments from the federal budget to support environmental restoration and social transition measures.

    The compensation is part of Germany’s Coal Exit Law, which seeks to cushion the social and economic consequences of the energy transition for affected regions and workers. The government has said these payments will ensure “a fair and orderly exit from lignite power.”

    LEAG may also qualify for further compensation for so-called social costs — losses related to early plant closures or infrastructure decommissioning. These payments could extend until 2042, depending on determinations by the Federal Network Agency (BNetzA) regarding lost profits or system reliability needs.

    Critics have questioned the scale of the compensation, arguing that it may cover profits companies would not have earned under normal market conditions. Environmental groups have also expressed frustration that the eastern coal phase-out remains slower than in western Germany.

    LEAG, which operates in Lusatia, continues to be a key regional employer and economic anchor in eastern Germany, where the coal exit is closely linked to the rollout of new gas-fired capacity to maintain energy security. Germany plans to tender up to 20 gigawatts of gas plants to support grid stability — a process delayed nearly two years and still pending EU approval.

  • Uzbekistan Plans to Double Copper Production to 500,000 Tonnes by 2030

    Uzbekistan Plans to Double Copper Production to 500,000 Tonnes by 2030

    Uzbekistan aims to double its copper output to 500,000 tonnes annually by 2030, according to a statement from the press service of President Shavkat Mirziyoyev. The country is strengthening its raw material base to support the development of high-tech sectors such as electrical engineering, electronics, and the semiconductor industry.

    Currently, products with high added value make up about 60% of Uzbekistan’s copper exports, reflecting steady progress toward deeper industrial processing. The government reports that the sector’s investment portfolio includes 157 projects worth $2.1 billion, covering new mining, processing, and manufacturing initiatives.

    Plans are also underway to increase domestic copper refining capacity to 300,000 tonnes, with new enterprises and industrial clusters being established to produce finished copper products.

    One of the key projects is the Ahangaran Copper Cluster in Tashkent Region, where facilities will be set up to manufacture semiconductors, microelectronic components, and other high-tech copper-based products in cooperation with the Almalyk Mining and Metallurgical Complex (AMMC).

    The initiative is part of Uzbekistan’s broader industrial policy to expand value-added production, reduce dependence on raw material exports, and position the country as a regional hub for advanced manufacturing in Central Asia.

  • EU Grants Poland Derogation to Keep Coal Plants Running Until 2028

    EU Grants Poland Derogation to Keep Coal Plants Running Until 2028

    The European Commission has granted Poland a derogation allowing the country to keep its coal-fired power plants operating within the EU’s capacity market until the end of 2028, providing a temporary reprieve for Europe’s last remaining coal producer.

    The decision enables the Polish government to extend financial support to coal units that exceed the EU’s emission cap of 550 grams of CO₂ per kilowatt-hour (kWh), a limit set under the EU Regulation 2019/943. The approval applies from 1 July 2025 through 31 December 2028 and covers both hard coal and lignite power plants.

    The move offers a lifeline to Poland’s coal sector, which still underpins much of the country’s power generation. While the EU is accelerating efforts to phase out fossil fuels in line with the Paris Agreement, Poland remains heavily reliant on coal for electricity and heating — a stance that has increasingly set it apart from other member states.

    Under the derogation, supplementary capacity auctions will be permitted if Poland’s main auctions fail to secure adequate generation capacity to meet the national reliability standard. These short-term contracts, limited to a maximum of one year (or six months for 2025), will be available to coal-fired units that exceed the CO₂ threshold.

    However, the European Commission’s approval comes with strict conditions. Poland must:

    • Update its National Resource Adequacy Assessment (NRAA) with a 10-year projection plan, analyzing plant closures, new constructions, and temporary shutdowns.

    • Conduct detailed modeling to accurately estimate future electricity exports and imports based on sound economic assumptions.

    • Demonstrate that maintenance and refurbishment schedules reflect actual operational plans and national conditions.

    The Commission emphasized that the derogation should not undermine the EU’s long-term decarbonization objectives and is intended as a transitional measure to maintain grid reliability during Poland’s energy transition.

    Poland’s dependence on coal remains significant, accounting for the vast majority of its power generation. Industry experts estimate the Polish state spends about €235,000 per hour subsidizing coal operations.

    Elsewhere in Europe, countries including Germany, the Czech Republic, and Slovenia have accelerated coal phase-outs, selling or shutting down key plants to meet EU divestment and climate targets.

    While global efforts continue to shift toward renewable energy, the Energy Information Agency recently reported that coal consumption could rise in several nations over the next decade due to slow renewable deployment and energy security concerns.

    For now, Poland stands as the EU’s last coal stronghold, facing growing pressure to align its energy system with Europe’s green transition.

  • Czech Republic to Close Final Hard-Coal Mine by 2026, Ending an Era of Coal Mining

    Czech Republic to Close Final Hard-Coal Mine by 2026, Ending an Era of Coal Mining

    The Czech Republic has announced plans to shut down its last operating hard-coal mine by 2026, marking the country’s final step in its transition away from fossil fuels. The move will make Poland the only remaining EU member still producing hard coal, underlining the Czech government’s commitment to achieving climate neutrality and phasing out all coal by 2033.

    The ČSM mine, located in Moravia-Silesia near the Polish border, will be the last to close. Despite remaining profitable, mining company OKD and the Czech government agreed that the phase-out should occur while operations are still financially sustainable, ensuring a managed and economically stable closure.

    The closure, however, has sparked fierce public debate and regional backlash. The government’s plan to transform the area into a green industrial zone, including a proposed lithium battery gigafactory, has drawn criticism from local residents and civil society groups.

    Martin Bohoněk, of the environmental organization Zachovejme Poolší (“Let’s Save Poolší”), said the project risks displacing the community’s identity without adequately addressing social needs:

    “They are building on the last green space in the area, but they will not be building homes, hospitals, or schools for it.”

    The proposed industrial development would cover an area equivalent to 380 football fields, a scale that locals rejected in a 2024 referendum. Many fear the project will attract foreign labor while offering few direct benefits to the existing population.

    The closure also raises concerns about job losses in the region, historically known as the “boiler room of Europe.” Socioeconomic experts warn that young people are likely to migrate to Czech cities in search of better opportunities, deepening the region’s demographic challenges.

    Meanwhile, Poland now accounts for 98% of the EU’s hard-coal output, producing about 48 million tonnes annually and heavily relying on state subsidies estimated at €235,000 per hour to keep its mines running.

    Although controversial, the Czech government views the decision as a strategic and necessary transition. By ending coal mining while introducing new green industries, it hopes to reposition the region as a hub for clean-energy technologies, even as questions remain about social and environmental balance.

  • Slovenia Drafts Law to Close Velenje Coal Mine by 2033, Backed by €1.1 Billion Transition Plan

    Slovenia Drafts Law to Close Velenje Coal Mine by 2033, Backed by €1.1 Billion Transition Plan

    Slovenia’s government has begun consultations on a draft law to gradually close the Velenje coal mine and liquidate its operator, Premogovnik Velenje, marking a major step toward the country’s coal phase-out by 2033.

    The planned legislation is a cornerstone of Slovenia’s energy transition strategy, aligning with EU climate neutrality targets while ensuring a fair transition for affected workers and communities.

    Under the proposal, coal extraction and closure operations will run in parallel until 2033, allowing for a phased reduction of the workforce and continued heat supply for Saleska Valley residents. Post-closure, remediation and monitoring activities will continue until 2045.

    The bill includes provisions for employee retirement packages, severance pay, social programs, asset divestment, environmental rehabilitation, and long-term oversight of the mine’s shutdown.

    The government said the program will receive €1.1 billion ($1.3 billion) from the state budget through 2045 — roughly €50 million annually — supplemented by funds from company operations and asset sales.

    Premogovnik Velenje reported a net loss of €816,000 in 2024, narrowing from €5.7 million in 2023, with coal production dropping to 2.17 million tonnes from 2.44 million tonnes the previous year.

    The Velenje mine, Slovenia’s only active coal mine, supplies the nearby Šoštanj Thermal Power Plant, a key source of electricity and heating. Its gradual closure represents one of the country’s most significant industrial and environmental transitions to date.

  • Avrupa Minerals Expands Exploration Holdings in Finland’s Vihanti-Pyhäsalmi VMS District

    Avrupa Minerals Expands Exploration Holdings in Finland’s Vihanti-Pyhäsalmi VMS District

    Vancouver, British Columbia – October 8, 2025 – Avrupa Minerals Ltd. (TSX-V: AVU) has expanded its footprint in the Vihanti-Pyhäsalmi volcanogenic massive sulfide (VMS) District of central Finland through its Finnish partnership Akkerman Finland Oy (AFOy). The company has secured a new exploration reservation, KKS (VA2025-0043), covering 18.6 km² and encompassing three historic VMS prospects — Kurpas, Kaskela, and Sirviö.

    With this acquisition, AFOy now holds seven copper-zinc exploration permits in the district at various stages of approval by the Finnish government, in addition to one gold exploration permit in the Oijärvi Greenstone Belt.

    According to records from the Geological Survey of Finland (GTK), the area was intermittently explored between 1970 and 2001. Outokumpu Oy discovered shallow copper-zinc mineralization in 1986 at Kaskela and in 1989 at Kurpas, identifying VMS layers extending several hundred meters. The best results from limited shallow drilling included narrow but high-grade intercepts:

    Prospect Width (m) Cu (%) Zn (%)
    Kurpas 1.0 2.4 –
    2.0 1.2 –
    0.2–0.8 – 2–8
    Kaskela 5.1 – 6.1
    1.5 – 8.8
    0.7 2.4 –

    Subsequent follow-up exploration by Outokumpu Oy and Belvedere Resources Ltd. did not yield extensions to the mineralized zones, and both companies ceased work in the area by 2005. No exploration has been conducted over the past 20 years.

    AFOy now plans to evaluate the deeper potential (>200 meters) of the volcano-sedimentary sequence around KKS using advanced geophysical methods, including airborne deep electromagnetic (EM) surveys and detailed magnetics — a strategy inspired by the deeper success of the Pyhäsalmi Mine, located nearby.

    Paul W. Kuhn, President and CEO of Avrupa Minerals, commented:

    “We have acquired another area of massive sulfide mineralization close to the Pyhäsalmi Mine. Our VMS portfolio in the District now includes seven licenses covering highly prospective targets, including two permits located less than two kilometers from the Pyhäsalmi headframe.”

    Avrupa and its partner Akkerman Exploration are now seeking a joint venture partner to advance the VMS program. Representatives from both companies will attend the FEM2025 Conference in Levi, Finland (October 28–30), where they plan to meet with interested parties.

  • Turkey, US in Talks to Develop Rare Earth Deposits in Western Anatolia

    Turkey, US in Talks to Develop Rare Earth Deposits in Western Anatolia

    Turkey is in talks with the United States to jointly develop rare earth reserves in western Anatolia, signaling a potential pivot toward its NATO ally after similar negotiations with China and Russia stalled over disagreements on technology transfer and refining rights.

    According to people familiar with the discussions, Ankara and Washington are exploring a partnership to develop the Beylikova deposit, located near Eskisehir in central Anatolia. The site is believed to contain cerium, praseodymium, and neodymium—key elements used in magnets, electronics, and defense applications—though the exact quality of the reserves remains under assessment.

    The discussions come as the two countries seek to deepen cooperation in energy and defense, following a meeting between Presidents Donald Trump and Recep Tayyip Erdogan at the White House last month. If finalized, a joint refining agreement could replace a provisional deal with China, which faltered after Beijing insisted on processing the materials in China rather than transferring refining technology to Turkey.

    Talks with Russia also failed to produce results, sources said. Turkey’s Energy and Natural Resources Ministry declined to comment.

    Ankara plans to construct a local refinery in Beylikova, where ore samples have shown a rare earth oxide content exceeding 1% by weight, indicating commercial viability. Turkey is also engaging with Canada and Switzerland for potential cooperation on feasibility studies to advance the project.

    To attract investors and ensure transparency, the government intends to apply to the Australian Institute of Geoscientists for JORC Code certification, which establishes international standards for reporting exploration results and resource estimates.

    The move aligns with broader Western efforts to reduce reliance on China, which currently dominates more than 80% of global rare earth production and processing. Both the US and EU have intensified efforts to secure alternative sources of critical minerals essential for defense, renewable energy, and high-tech manufacturing.

    Turkey, which has long balanced relations between the West and China, joined a US-EU-led initiative in 2024 to diversify critical mineral supply chains. However, it has also attracted Chinese investment in electric vehicle production and has been offered partner-country status in the BRICS bloc.

    Ankara continues to emphasize technology transfer and local value creation in its foreign partnerships, including existing cooperation with Boeing and Lockheed Martin.

  • Aurubis Sets Record Copper Premium as Global Supply Tightens

    Aurubis Sets Record Copper Premium as Global Supply Tightens

    Europe’s largest copper producer, Aurubis, will charge a record $315 per metric ton premium for refined copper sales to European customers in 2026, according to three market sources cited on Tuesday.

    The surcharge — applied on top of the London Metal Exchange (LME) benchmark price — represents a 38% increase from the $228 per ton level maintained over the previous two years. The company declined to comment on the pricing decision.

    The sharp rise comes amid mounting fears of a global copper shortage that has driven prices to a 16-month high of $10,800 per ton on Monday. LME copper has climbed about 8% in the past month, trading at $10,698.50 as of Tuesday morning (1027 GMT).

    The market has been rattled by a series of production setbacks across major mining regions. Freeport-McMoRan declared force majeure at its Grasberg mine in Indonesia — the world’s second-largest copper operation — following a deadly mudslide, forcing the company to cut its 2025 and 2026 sales forecasts. Additional disruptions have hit the Kamoa-Kakula mine in the Democratic Republic of Congo and Chile’s El Teniente mine.

    According to Société Générale, the loss of roughly 273,000 tons of copper output from Grasberg between September and December will push the market into its largest supply deficit since 2004. Bank of America has similarly revised its outlook, more than doubling its projected 2026 deficit to 350,000 tons.

    Analysts note that while demand for copper continues to rise — driven by electrification, renewable energy, and grid expansion — supply growth remains constrained by operational challenges and long lead times for new projects.

  • Germany Launches €6 Billion Decarbonisation Program Including Carbon Capture Technology

    Germany Launches €6 Billion Decarbonisation Program Including Carbon Capture Technology

    Germany’s Economy Minister Katherina Reiche on Monday announced a €6 billion ($7 billion) funding initiative to accelerate industrial decarbonisation, marking the first inclusion of carbon capture and storage (CCS) technology in the country’s climate protection contracts.

    The program targets energy-intensive industries such as chemicals, steel, cement, and glass — key sectors facing mounting pressure to meet stringent climate goals while maintaining global competitiveness. Companies have until December 1 to register their projects for next year’s bidding process.

    Bidding is expected to begin in mid-2026, pending parliamentary budget approval and clearance from the European Commission under EU state aid rules.

    Building on last year’s climate contracts program, the new round expands eligibility to projects that incorporate CCS technology, which captures CO₂ emissions and stores them underground.

    Under the scheme, the German government will offer 15-year contracts subsidizing the costs of transitioning to low-emission production methods. The subsidies are designed to offset risks from volatile energy and carbon prices, helping industries adapt to cleaner technologies without losing competitiveness.

    Contracts will be awarded through competitive auctions, prioritizing projects that achieve the greatest emission reductions at the lowest cost per tonne of CO₂ saved. Companies receiving support will also have to meet binding emissions reduction milestones throughout the contract period.

    Industry groups have welcomed the inclusion of CCS and praised the government’s pragmatic, flexible approach. They emphasized that maintaining a balance between ambitious climate goals and the economic realities of high energy costs and industrial slowdown is crucial to securing Germany’s industrial base.