MINEX Forum

Website: Europe.com

  • Leaked French Energy Roadmap Signals Shift Toward Nuclear, Delays Renewable Targets

    Leaked French Energy Roadmap Signals Shift Toward Nuclear, Delays Renewable Targets

    A document published Friday by the newly formed Fédération Nationale de l’Énergie Solaire (FNES) reveals the French government’s intention to pivot heavily toward nuclear power while delaying solar and wind deployment targets. Though not officially released, the document was dated today and appeared on LinkedIn, suggesting the roadmap may be imminent.

    According to the statement, the government plans to “increase nuclear development targets” and raise operational availability for existing nuclear reactors. While it does not specify the number of new nuclear units, the roadmap must align with France’s energy programming bill currently under parliamentary debate, which includes 27 GW of new nuclear capacity by 2050.

    At the same time, renewable energy goals are being scaled back or postponed. Targets for solar, onshore wind, and offshore wind have been delayed, citing “lower-than-expected power demand in recent years” and the desire to “optimise industrial returns for French manufacturers.” A draft version of the roadmap from March aimed for 65–90 GW of solar by 2035, along with 40–45 GW of onshore wind and 18 GW of offshore wind.

    Significantly, the leaked document notes the roadmap could still be revised to reflect the final outcome of the energy programming bill, set for a second reading in the National Assembly in September.

    The bill has stirred political controversy. In June, the lower house rejected it after divisive amendments, including a proposed moratorium on new wind and solar projects. The Senate later passed a revised, nuclear-heavy version in July. Critics warn that prematurely releasing the roadmap could inflame tensions, particularly among right-wing MPs who view early publication as a breach of legislative protocol.

    French energy minister Marc Ferracci recently told Sud Radio the decision to publish rests with the Prime Minister: “I’m hoping it happens quickly – our nuclear and renewables sectors need visibility,” he said.

  • Slovenské elektrárne Signs Long-Term Uranium Supply Deal with Urenco

    Slovenské elektrárne Signs Long-Term Uranium Supply Deal with Urenco

    Slovakia’s largest electricity producer, Slovenské elektrárne, has signed a long-term contract with UK-based nuclear fuel supplier Urenco to provide enriched uranium to the country’s Bohunice and Mochovce nuclear power plants through the mid-2030s.

    The deal follows an international tender launched in early 2024, as Slovenské elektrárne seeks to bolster energy security and diversify its nuclear fuel sources amid shifting geopolitical dynamics. The company described the agreement as a key step toward strengthening the reliability of its nuclear fleet, which generates over half of Slovakia’s electricity.

    “We are pleased that through future cooperation with Urenco Group, we can diversify our business relationships,” said Branislav Strýček, CEO of Slovenské elektrárne. “It will significantly help us continue maintaining the stable and secure operation of our nuclear power plants.”

    Urenco Chief Commercial Officer Laurent Odeh expressed pride in entering the Slovak market, stating, “We are very proud at Urenco Group to be entering into a new market with a new customer, and I’d like to pay tribute to Slovenské elektrárne for placing their trust in us.”

    This agreement adds to diversification efforts that began in 2023, including a supply deal with Framatome to support Slovakia’s VVER-440 reactors. It also comes at a time when two units were recently dismantled at Bohunice, while plans are underway to deploy four small modular reactors (SMRs) in the same area.

    Slovakia currently operates five nuclear reactors and has a sixth in the commissioning phase, reinforcing its commitment to nuclear energy as a backbone of its national power supply.

  • Adriatic Metals Boosts Q2 Output But Lowers Full-Year Forecast Amid Dundee Takeover

    Adriatic Metals Boosts Q2 Output But Lowers Full-Year Forecast Amid Dundee Takeover

    Adriatic Metals (ASX, LON: ADT) reported notable gains in silver and gold production for the second quarter of 2025, while trimming its full-year production outlook ahead of its acquisition by Canada’s Dundee Precious Metals (TSX: DPM).

    The company, which operates the Vareš silver-zinc-lead project in Bosnia and Herzegovina, said silver equivalent output reached 1.7 million ounces in Q2—up 23% from the previous quarter. This included 720,449 ounces of silver and 4,840 ounces of gold, reflecting strong performance gains compared to Q1.

    Zinc and lead output also increased, and Adriatic confirmed that commercial production officially began at the Vareš operation on July 1. The Veovača tailings facility, completed in March, started receiving tailings in April, with a newly constructed connecting road going operational in June.

    Despite the operational momentum, Adriatic revised its full-year silver equivalent production forecast downward to 9.5–10.5 million ounces, compared to the earlier estimate of 12–13 million ounces. The company attributed the revision to operational and logistical ramp-up adjustments, while noting that the new range still reflects year-on-year growth.

    Adriatic ended the quarter with a cash balance of $59 million, down from $76 million at the end of March.

    The quarterly update follows Adriatic’s acceptance of a $1.25 billion acquisition offer from Dundee Precious Metals. The merger will see the combined entity headquartered in Toronto, with Adriatic’s UK office set to close.

    “Following the board’s recommendation to accept the proposed acquisition of Adriatic by Dundee Precious Metals, we remain committed to maintaining positive operational momentum throughout this transactional period,” said CEO Laura Tyler.

    Dundee’s acquisition of Adriatic is expected to strengthen its asset base in Eastern Europe and support long-term growth in gold and silver output across the region.

  • Tin Mining Revival in Cornwall: UK Government Injects £29M into South Crofty Reopening

    Tin Mining Revival in Cornwall: UK Government Injects £29M into South Crofty Reopening

    The UK government has invested £28.6 million to revive Cornwall’s historic South Crofty tin mine, marking a major step in re-establishing domestic production of a critical mineral vital to the clean energy transition. Located near the village of Pool, South Crofty was the last operational tin mine in the UK before its closure in 1998 due to plummeting metal prices and a lack of investment.

    The reopening of the mine, led by Cornish Metals, is expected to create over 1,300 jobs — including more than 300 direct roles and an additional 1,000 across supply chains and regional services such as fabrication and electrical contracting.

    “Tin is essential to electronics, EVs, and renewable energy,” said Don Turvey, CEO of Cornish Metals. “Bringing South Crofty back online helps reduce import dependence and boosts local industry.” The company plans to use local suppliers, helping to stimulate Cornwall’s economy and foster long-term industrial regeneration.

    The announcement was made during a visit to Cornwall by Chancellor Rachel Reeves, who emphasized the mine’s role in unlocking regional growth. “Cornwall has been left behind for too long. This project is about creating skilled, year-round jobs and putting money into local families’ pockets,” she stated.

    The investment, part of the UK’s national wealth fund and industrial strategy, aims to promote growth in strategic industries like clean energy and critical minerals. Ian Brown of the national wealth fund praised the mine’s progress and potential to attract further private investment.

    Tin prices have nearly doubled since 2016, reflecting rising global demand from sectors including electric vehicles and solar panel manufacturing. Originally acquired in 2016 by Vancouver-based Strongbow Exploration—now Cornish Metals—the South Crofty project has gained momentum with its AIM listing and rising investor confidence. Cornish Metals’ share price has climbed 28% over the past year, pushing its market valuation to £92 million.

    The reopening of South Crofty could signify a new era for British tin mining, helping secure mineral independence while delivering a boost to regional jobs and sustainability goals.

  • Finland Tops Global Mining Rankings as Canada Falls Behind in Policy Attractiveness

    Finland Tops Global Mining Rankings as Canada Falls Behind in Policy Attractiveness

    Finland has reclaimed its position as the most attractive jurisdiction globally for mining and exploration, according to the latest Annual Survey of Mining Companies by the Fraser Institute. The Nordic nation, which led global rankings in the early 2010s, outperformed all other regions based on its mineral potential and mining-friendly policies.

    Finland was followed by the U.S. states of Nevada and Alaska, with Wyoming and Arizona rounding out the top five. Canada, once a consistent leader, saw a notable decline with only Saskatchewan (7th) and Newfoundland and Labrador (8th) remaining in the top 10. Saskatchewan dropped four places from the previous year, while Newfoundland and Labrador rose to eighth.

    The Fraser Institute’s survey, which assessed 82 jurisdictions through responses from approximately 350 mining professionals, considered both geological potential and policy factors including permitting efficiency, tax regimes, labour access, and environmental regulations. While 40% of respondents represented exploration firms, 32% were from mining companies.

    Canada’s fall in the rankings is attributed to growing policy uncertainty, particularly regarding land rights, environmental regulation, and overlapping governance. Quebec experienced the steepest drop, falling from 5th to 22nd, while Ontario slipped to 15th. The Yukon, British Columbia, and Manitoba scored poorly on policy despite strong geology, ranking 40th, 32nd, and 43rd respectively.

    Nova Scotia was among the worst performers overall. Sean Kirby, executive director of the Mining Association of Nova Scotia, said the province’s permitting system is hampering investment. “We need to fix permitting to attract investment and create jobs,” Kirby stated. He added that mining regulation is largely handled by officials outside the Department of Natural Resources, many of whom lack expertise in the sector.

    Globally, Ethiopia ranked lowest on the index, followed by Suriname, Niger, Nova Scotia, and Mozambique. In terms of policy only, Ireland led the rankings, while Bolivia came in last.

    Though the survey covered the period between August and December 2024, recent political changes in Canada — including Mark Carney’s election as prime minister and new legislation to fast-track major projects — could potentially improve the country’s position in future surveys.

  • Lyten Secures $200M to Expand Lithium-Sulfur Battery Ambitions Through Northvolt Asset Acquisitions

    Lyten Secures $200M to Expand Lithium-Sulfur Battery Ambitions Through Northvolt Asset Acquisitions

    California-based battery startup Lyten has raised $200 million from existing investors to support the acquisition of strategic assets from the bankrupt Swedish battery manufacturer Northvolt AB, including intellectual property and a large energy storage factory in Poland.

    The new funding enables Lyten to advance its pivot from a U.S.-focused battery cell supplier into a broader, vertically integrated player in Europe’s fast-growing energy storage and defense sectors. The Gdansk-based facility, originally built by Northvolt for $200 million, is expected to restart operations using traditional nickel-based cells by Q4 2025, with a long-term plan to convert the site to produce Lyten’s proprietary lithium-sulfur batteries.

    “We’re moving downstream in the batteries to own more of the value chain,” said Keith Norman, Lyten’s Chief Marketing and Sustainability Officer. “We’re entering hyper-growth mode in very specific geographies and need to align resources accordingly.”

    The expansion follows a recent restructuring at Lyten, which included the departure of Tesla alum Celina Mikolajczak and about 45 other employees. Mikolajczak had played a key role in commercializing Lyten’s lithium-sulfur chemistry—an innovation long viewed as unviable until now.

    Lyten’s lithium-sulfur cells aim to offer a lower-cost, high-density alternative to China-dominated lithium iron phosphate (LFP) technologies. They also avoid critical materials tightly controlled by Chinese suppliers, aligning with Western supply chain goals. The company’s Polish plant will produce not only batteries but also key components such as housings, inverters, and safety systems for stationary energy storage systems.

    This move comes amid a global battery market realignment, with electric vehicle demand slowing in the U.S. and growing interest in stationary energy storage and military drone applications in Europe.

    Lyten’s recent investments also include a lithium-metal manufacturing facility near San Francisco, acquired from Cuberg—another former Northvolt subsidiary.

    The $200 million raise was backed by existing investors including Prime Movers Lab, Luxembourg Future Fund, Stellantis NV, and FedEx Corp. Norman noted the funding could support additional acquisitions beyond the Northvolt deal as the company accelerates its European expansion strategy.

  • Margün Energy Explores Lithium Potential in Geothermal Waters of Western Turkey

    Margün Energy Explores Lithium Potential in Geothermal Waters of Western Turkey

    Margün Energy has announced plans to explore lithium and precious metals in geothermal water at its recently acquired 12 MW geothermal power plant in Seferihisar, western Turkey. The company also revealed intentions to integrate a 5.4 MW photovoltaic unit into the site, creating a hybrid renewable energy facility.

    Turkey, ranked fourth globally in geothermal power capacity, is increasingly looking at the potential for lithium extraction from geothermal fluids—a process that could make clean energy projects more profitable. Margün, listed on the Istanbul Stock Exchange since 2021, will carry out the exploration across 3,125 hectares in İzmir province.

    The $16 million geothermal facility was purchased from RSC Elektrik and is located in Kavakdere, Seferihisar. While the company confirmed exploration plans, it addressed concerns from locals by clarifying that it has not obtained any mining permits and does not intend to mine lithium. Instead, it is evaluating the viability of extracting lithium directly from geothermal brine.

    “Mining lithium and extracting it from geothermal fluid are entirely different processes,” the company stressed, emphasizing its commitment to environmentally conscious development.

    In addition to lithium, Margün Energy is investigating the presence of other valuable metals in the geothermal fluid. It also noted that commercial carbon dioxide capture is on the table, and that geothermal investments would support local job creation and greenhouse farming.

    The proposed 5.4 MW solar plant, currently awaiting regulatory approval, is expected to produce 10 GWh of electricity per year and generate an additional $1.05 million in revenue. Once operational, Margün’s total installed capacity will reach 135.4 MW.

    Margün owns a majority stake in Enda Energy Holding, which operates a diverse portfolio including hydropower, wind, solar, and geothermal projects totaling 200 MW. The company’s share price has surged by 109% since the beginning of the year, reflecting investor confidence in its renewable energy strategy.

  • Europe Eyes Low-Risk Rare Earth Deposits to Strengthen Green Energy Supply Chain

    Europe Eyes Low-Risk Rare Earth Deposits to Strengthen Green Energy Supply Chain

    Europe’s push toward a greener future is facing a critical supply chain dilemma: the continent’s heavy dependence on imported Rare Earth Elements (REEs). These materials are essential for technologies like electric vehicles and wind turbines, yet the global REE market remains largely controlled by China — a geopolitical and economic risk that has sparked alarm across the EU.

    To mitigate this, the EU-funded REEsilience project is charting a new course. Launched in 2022, the initiative has mapped 149 global REE deposits, evaluating them for both geological quality and ESG (Environmental, Social, Governance) risks. Its goal: to help Europe identify secure and sustainable alternatives to Chinese supply.

    “Just a handful of deposits, if chosen wisely, could secure the EU’s rare earth supply,” said Prof. Dr. Carlo Burkhardt, REEsilience coordinator. Norway’s Fen complex and Greenland’s REE resources were flagged as top prospects, offering strong political ties and low ESG risk alongside high-quality ore. Other low-risk candidates include Sweden, Finland, Canada, and Australia.

    By contrast, REE sources in parts of Southeast Asia, Central Africa, and Brazil were found to carry high environmental or social risk — making them less viable options for Europe’s sustainability ambitions.

    Beyond mining, the REEsilience project is also modelling future supply chain scenarios, factoring in price volatility, recycling efforts, and digitalisation. TU Delft’s Dr.ir. Willem Auping explained that simulation modelling is being used to explore “strategic resilience measures” such as recycling and extending product lifecycles.

    The initiative also focuses on localising production — including magnet manufacturing automation and ICT integration — and building a skilled workforce to drive innovation. With final results expected by June 2026, the project aims to pave the way for a robust, circular rare earth supply chain that aligns with Europe’s climate and security goals.

  • Romania’s Salrom Secures License Extension for Strategic Graphite Project

    Romania’s Salrom Secures License Extension for Strategic Graphite Project

    Romania’s state-owned National Salt Company, Salrom, has received an extension for its graphite exploitation license in the Ungurelașu–Polovragi area, reinforcing its role in Europe’s drive to secure domestic sources of strategic raw materials. The development is part of a wider European Commission initiative aimed at reducing reliance on imports for battery-critical materials.

    Salrom’s graphite project is one of 47 strategic initiatives selected by the European Commission under its programme to support the production and processing of key raw materials across 13 EU countries. The company has requested €198.3 million in EU funding to build the extraction and processing infrastructure necessary to produce battery-grade graphite.

    The initiative includes the extraction of graphite shale, the establishment of advanced refining facilities, and the production of high-purity graphite — a crucial component in electric vehicle (EV) batteries and energy storage systems. If approved, the project could position Romania as a key graphite supplier in the EU.

    Salrom highlighted the economic and strategic importance of the investment, calling it a major opportunity to “maximize the potential of this useful mineral substance.” Graphite is currently listed as a critical raw material due to its essential role in the energy transition and Europe’s limited domestic supply.

    The Ungurelașu–Polovragi project is one of three Romanian ventures backed under the EU’s strategic raw materials programme.

  • JSW Launches €25.6M METH2GEN Project to Turn Methane Emissions into Clean Hydrogen with EU Support

    JSW Launches €25.6M METH2GEN Project to Turn Methane Emissions into Clean Hydrogen with EU Support

    Jastrzębska Spółka Węglowa (JSW), the EU’s largest coking coal producer, has launched the METH2GEN project—an innovative €25.6 million initiative aimed at curbing methane emissions from mining operations and converting the captured gas into low-cost hydrogen. Over €20 million of the total funding is provided by JSW itself, with additional support from the European Union.

    The project features two primary components. First, it introduces directional drilling technology to improve methane capture from underground geological formations. This is expected to raise methane recovery efficiency to as much as 70% in mining areas like the Budryk mine. JSW highlights that the new technique will not only reduce emissions but also enhance mine safety and lower operational costs.

    “This is an important step towards modern, safe, and environmentally friendly mining,” said Adam Rosmus, JSW’s VP of Technical and Operational Affairs.

    The second part of the project will see the construction of a hydrogen production facility using Steam Methane Reforming (SMR) technology. Captured methane will be converted into hydrogen, and the resulting CO₂ will be reused in fire prevention systems. According to JSW, this method allows for 100% utilization of methane from degassing stations and offers a cheaper alternative to hydrogen produced via electrolysis.

    “This is a breakthrough solution… particularly important in view of the new European methane standards,” said Artur Badylak, Director of JSW’s Degassing and Methane Policy Office.

    Geological surveys are underway to determine the best location for the hydrogen plant, and drilling equipment is already being procured.

    METH2GEN is one of four major EU-supported environmental initiatives undertaken by JSW, with a combined budget of over €63.8 million. Methane currently accounts for 73% of the company’s total carbon footprint, making its reduction central to JSW’s green transition strategy.

    Despite facing geological and operational challenges, JSW remains committed to its environmental goals. In 2024, it reduced coal production by 9.3% and coke output by 8.6% compared to the previous year. However, the company still reported a net loss of PLN 7.3 billion in 2023.