MINEX Forum

Website: Europe.com

  • EU Urged to Create €10 Billion Fund for Critical Raw Materials

    EU Urged to Create €10 Billion Fund for Critical Raw Materials

    The European Union must establish funds exceeding €10 billion ($11.4 billion) to drive investment in the exploration, mining, and recycling of critical raw materials, according to Bernd Schaefer, CEO of EIT RawMaterials, an EU-funded agency for key minerals.

    The EU has set ambitious 2030 targets for 34 critical minerals, including lithium and copper, which are vital for its green transition. These goals aim for 10% of annual demand to be met through domestic mining, 25% through recycling, and 40% through local processing. Furthermore, no single third country should supply more than 65% of any given mineral—a threshold the EU currently surpasses with China for many materials.

    To reach these targets, Schaefer emphasized the necessity of dedicating part of the bloc’s next seven-year budget from 2028 towards mining and recycling initiatives. “It should probably start with at least a billion or 2 billion euros and have the potential to grow considerably,” Schaefer told Reuters.

    Additionally, Schaefer called for the creation of a €10 billion exploration fund to identify minerals within the EU, which, when combined with private investments, could reach around €100 billion. He stressed the importance of evaluating future consumption and supply for each mineral while converting alliances with international partners into tangible volumes amid rising geopolitical tensions.

    “The Americans are very much hands-on in getting things down the road,” Schaefer said, urging Europe to take decisive action.

    Schaefer also pointed out that Europe’s increased defense spending, a factor not considered when setting its raw material targets, would further heighten demand for minerals such as vanadium, titanium, molybdenum, and chromium. He noted that while the required volumes are not massive, the urgency and sensitivity surrounding their sourcing have intensified, surpassing even that for energy and mobility raw materials.

  • Minespider and TETHYS Unite to Digitalize Mining Supply Chains in Türkiye and Central Asia

    Minespider and TETHYS Unite to Digitalize Mining Supply Chains in Türkiye and Central Asia

    Berlin/Istanbul, May 12, 2025 – Minespider, a leading traceability and Digital Product Passport (DPP) platform, has signed a Memorandum of Understanding (MoU) with TETHYS Teknoloji, İnovasyon, Danışmanlık ve Ticaret A.Ş., a subsidiary of Luxembourg-based TETHYS Gateway Investment GP specializing in critical raw materials. The collaboration will develop next-generation digital traceability solutions—focusing on Battery Passports, Digital Product Passports, critical raw materials traceability, and comprehensive ESG data systems—across mining operations in Türkiye and Central Asia.

    This partnership combines TETHYS’s extensive engagement in over a dozen mining projects throughout Türkiye, Central Asia, and the Caucasus region with Minespider’s proven expertise in supply chain digitalization. Together, they will pilot end-to-end systems that embed transparent, verifiable data directly into the mineral supply chain, aiming to:

    • Prevent artisanal mining abuses and curb illicit mining activities

    • Reduce the risk of child labour and human rights violations

    • Ensure compliance with evolving European and global regulations

    • Facilitate market access, particularly into the EU’s regulated markets

    Under the MoU, both partners will jointly pursue technology integration, proof-of-concept developments, and coordinated customer outreach. Their deliverables will include web, mobile, and backend applications that enable traceability, automated regulatory reporting, and real-time ESG data collection throughout exploration, extraction, and production phases.

    “We’re thrilled to partner with TETHYS to bring greater transparency and traceability to mineral supply chains in Türkiye and the Central Asian region,” said Nathan Williams, Founder & CEO of Minespider. “As global demand for responsibly sourced minerals continues to grow, ensuring digital proof of origin and ethical practices is no longer optional—it’s a must. Together with TETHYS, we’re building the digital infrastructure that empowers stakeholders with the data they need to make informed, sustainable decisions.”

    “Our partnership with Minespider is focused on a clear objective: ensuring digital product compatibility for the entire mining lifecycle in Türkiye and Central Asia,” added Leyla Keser Berber, Chairperson of TETHYS. “Through advanced traceability and data systems, we aim to eliminate risks such as illegal mining, artisanal mining abuses, and human rights violations—while supporting industrial players in meeting global regulatory standards.”

    Pilot projects and client engagements are slated to begin shortly, positioning the Minespider–TETHYS alliance as a pioneer in the digital transformation of mining ecosystems across the region.

    Key Facts

    • Türkiye’s mineral diversity: Home to 70 types of natural resources, 60 of which are actively traded internationally.

    • Central Asia’s critical minerals:

      • 38.6 % of global manganese ore

      • 30.07 % of chromium

      • 20 % of lead

      • 12.6 % of zinc

      • 8.7 % of titanium

    • EU regulatory framework: Minerals exported to Europe must comply with the Critical Raw Materials Act (CRMA), Corporate Sustainability Due Diligence Directive (CSDDD), Conflict Minerals Regulation, Battery Regulation, and more.

    About the Companies

    Minespider
    A global traceability platform, Minespider offers Digital Product Passports—digital IDs that carry key data across supply chains. Its clients include Tata Elxsi, Ford Otosan, Renault, Minsur, Luna Smelter, and TEMSA.

    TETHYS Teknoloji, İnovasyon, Danışmanlık ve Ticaret A.Ş.
    Headquartered in Istanbul, TETHYS specializes in critical raw materials, mining innovation, and supply chain digitalization. Its portfolio spans exploration to investment structuring for clients like CVK Mining, Tamer Mining, and Marmotek. TETHYS also facilitates European funding partnerships in sustainability and responsible sourcing.

  • Germany’s New Economy and Energy Minister Calls for “Reality Check” in Energy Policy

    Germany’s New Economy and Energy Minister Calls for “Reality Check” in Energy Policy

    Katherina Reiche, the newly appointed German Economy and Energy Minister from the conservative Christian Democrat (CDU) party, has called for a “new agreement on the fundamentals” of the country’s energy strategy. In her inaugural address, Reiche emphasized the need for a freer energy market and greater innovation, with energy security as the top priority. “The blackout on the Iberian Peninsula showed how vulnerable an electricity system can be. We must prepare ourselves for minimizing risks of this kind,” she stated.

    While acknowledging the progress made in climate action through the expansion of wind and solar power, Reiche stressed that the associated systemic risks and costs had been underestimated. As part of a comprehensive “reality check” in energy policy, she argued for better alignment of renewable power expansion with grid infrastructure improvements.

    Reiche also underlined that renewable energy alone would not suffice to reliably power an industrialized nation like Germany. To bridge this gap, the government plans to expedite auctions for up to 20 gigawatts of new gas-fired power plant capacity and expand carbon management technologies (CCS/CCU). Further, she committed to fulfilling the coalition’s agreements, including a reformed approach to decarbonizing the heating sector with flexible CO2-reduction measures, the introduction of an industry power price, and the use of reserve power plants for price stabilization.

    In her address, Reiche praised her predecessor, Robert Habeck of the Green Party, for his efforts during the energy crisis spurred by Russia’s invasion of Ukraine, recognizing his resilience in facing political pressure while making critical decisions.

    Reiche concluded her speech with a call to tackle Germany’s economic challenges, acknowledging the impact of high taxes, energy costs, and bureaucratic hurdles on industrial competitiveness. While noting external pressures from Russia’s war and the US’s trade policies under Donald Trump, she pointed to Germany’s own structural issues as the primary obstacles. “The root cause of the country’s problems is ‘Made in Germany.’ But that also means the solution can be ‘Made in Germany,’” she affirmed. Reiche promised a policy approach focused on activation and market-driven solutions over regulation.

  • Ukraine’s Vast Titanium and Building Stone Reserves Could Shift Global Markets

    Ukraine’s Vast Titanium and Building Stone Reserves Could Shift Global Markets

    Ukraine holds substantial reserves of titanium, potentially accounting for up to 20% of the global supply, according to Olena Remezova, Doctor of Science in Geology and Chief of the Mineral Deposits Geology Department at the Institute of Geological Sciences of the National Academy of Sciences of Ukraine. Speaking to RBC-Ukraine, Remezova emphasized Ukraine’s strategic potential in both titanium extraction and building stones, which could significantly influence global markets.

    Despite some international estimates suggesting Ukraine’s titanium reserves are less than 1% of the world total, Remezova asserts that this is a major underestimation. Even Ukraine’s average titanium deposits surpass many found in Russia, solidifying its position as a key player in the strategic metal’s supply chain.

    In addition to titanium, Ukraine is also developing a robust industry for building stones, particularly granite and labradorite. The Zhytomyr region alone boasts around 300 quarries extracting non-metallic materials for construction and decorative applications. Ukrainian labradorites, known for their iridescent properties, are especially prized on the global market, with few equivalents found outside of regions like Norway.

    Ukraine’s geological wealth extends beyond titanium and building stones. The country is home to significant rare earth metal deposits concentrated in the Zhytomyr and Cherkasy regions, as well as the Eastern Azov Sea region, all critical for modern technologies.

    With its vast reserves and growing extraction capabilities, Ukraine is well-positioned to become a major global supplier of these critical materials, potentially reshaping markets and reducing dependency on other producers.

  • Norway’s Sovereign Wealth Fund Engages with Rio Tinto and South32 on Environmental Concerns

    Norway’s Sovereign Wealth Fund Engages with Rio Tinto and South32 on Environmental Concerns

    Norway’s sovereign wealth fund, managed by Norges Bank Investment Management (NBIM), has announced its decision to actively engage with global mining giants Rio Tinto and South32 concerning their environmental practices. The decision follows a recommendation from the Council on Ethics, an independent advisory body appointed by the Norwegian government, which urged the fund to consider divesting its stakes in the companies due to environmental concerns.

    NBIM currently holds approximately 2.5% of Rio Tinto plc, 0.13% of Rio Tinto Ltd, and 2.6% of South32, according to data from LSEG. The ethical concerns center around the companies’ involvement in the Mineração Rio do Norte (MRN) joint venture, a substantial bauxite mining operation located in the Amazon rainforest. The project, a collaboration between Glencore (45%), Rio Tinto (22%), and South32 (33%), has been criticized for contributing to environmental degradation in the region.

    In response, the sovereign wealth fund’s executive board stated that it would engage with the companies over the next five to ten years to encourage substantial improvements in their environmental management and practices.

    In a separate announcement, the fund revealed it had revoked the exclusion of German energy firm RWE AG, applauding its progress toward renewable energy. Conversely, it decided to sell its shares in Mexican oil company Petroleos Mexicanos (Pemex) and Israeli firm Paz Retail and Energy, citing ethical concerns as the primary reason for the divestment.

  • Ukraine Ratifies Agreement with the US for Access to Natural Resources

    Ukraine Ratifies Agreement with the US for Access to Natural Resources

    Ukraine’s parliament has ratified a landmark agreement with the United States, paving the way for enhanced American access to the country’s natural resources. This move is seen as part of President Volodymyr Zelenskiy’s broader strategy to improve diplomatic and economic ties with former US President Donald Trump.

    The agreement, reached after prolonged negotiations, saw Washington abandon its demand for the repayment of billions of dollars in aid provided to Kyiv since the onset of Russia’s invasion over three years ago. In a decisive vote on Thursday, 338 Ukrainian lawmakers endorsed the ratification, signaling strong political support for the initiative.

    The deal grants the US privileged access to investment opportunities in Ukraine’s resource sectors, including aluminum, graphite, oil, natural gas, and other strategic deposits. This is viewed as a critical step to secure US favor as Trump advocates for an end to the conflict that would potentially benefit Moscow.

    Additionally, the agreement outlines the possibility of the US using future military aid as contributions to a joint investment fund, further solidifying economic cooperation between the two nations. As Russia maintains pressure along a thousand-kilometer frontline, Ukraine appears determined to leverage its natural assets to bolster international alliances and economic resilience.

  • Romania Revives Europe’s Largest Graphite Deposit with €200 Million Investment

    Romania Revives Europe’s Largest Graphite Deposit with €200 Million Investment

    Romania is set to breathe new life into Europe’s largest graphite deposit, located in Baia de Fier, 235 kilometers west of Bucharest, after 21 years of dormancy. Once a bustling site employing 500 workers, the area now stands as a landscape of decaying metal structures and rusted machinery. However, thanks to nearly €200 million ($227 million) in funding from the European Commission, the Romanian Salt Company is preparing to restart operations. This initiative is part of a broader strategy to reduce Europe’s reliance on critical materials from China, reflecting shifting global geopolitical dynamics.

    The European Commission has designated the Baia de Fier site as one of three strategic mining projects in Romania. The country will receive a total of €615 million ($698 million) from Brussels, with graphite extraction prioritized for its applications in electric vehicle batteries, energy storage systems, electronics, and machine manufacturing, according to Andreea Nestian, Financial Director at A3Build, a consulting firm specializing in mining.

    Two other projects highlighted by the EU include metallic magnesium extraction in Budureasa and copper mining in Rovina, both also located in western Romania. “Magnesium is crucial for producing lightweight alloys used in the automotive, aerospace, and defense industries,” Nestian said, underscoring Europe’s heavy dependency on imports. Meanwhile, the Rovina copper deposit is recognized as the second-largest in Europe, although its development has faced legal challenges from environmentalists.

    In a bid to attract further financial support, Romanian authorities have informed Brussels about additional mineral reserves, including titanium, boron, quartz, phosphorus, germanium, tungsten, gallium, and rare earth elements. Romanian Minister of Economy Bogdan Ivan highlighted their significance across diverse sectors, such as aerospace, medical equipment, solar technologies, and defense.

    Despite the optimism surrounding the revival of Baia de Fier, the project faces significant hurdles. Many of the former workers have retired or emigrated, and Romania’s sole faculty of mining is struggling to attract students due to waning interest in the industry. Experts stress that substantial external investment and a skilled workforce will be crucial for the mine’s successful reactivation.

    The Romanian government plans to submit the project proposal to the European Commission in the third quarter of this year, although a start date for mining operations remains undecided.

  • US-Ukraine Mineral Extraction Deal Faces Serious Setbacks

    US-Ukraine Mineral Extraction Deal Faces Serious Setbacks

    The much-publicized US-Ukraine mineral extraction agreement, once hailed as a breakthrough in strategic partnership, is now facing significant hurdles due to outdated geological data, geopolitical risks from the ongoing war, and weaker-than-expected rare earth reserves, according to industry experts cited by the Washington Post on May 3.

    US President Donald Trump has been urging Ukraine to initiate negotiations with Russia amid the ongoing conflict. He also advocated for an initial version of the mineral deal that would have granted the US exclusive control over profits, imposed a 4% interest rate, and retroactively converted past US aid into debt. While Ukraine signed what is reportedly a more balanced version, the final documents remain unpublished and still require parliamentary approval.

    The agreement includes US rights to extract Ukraine’s mineral, oil, and gas resources as part of a broader strategy to repay future US military aid to Kyiv and support the country’s reconstruction. However, analysts suggest that shipments of crucial materials such as titanium, lithium, and graphite are unlikely to begin for at least another decade.

    “This absolutely is not a solution to these immediate problems,” stated Reed Blakemore of the Atlantic Council Global Energy Center, highlighting the US’s continued dependence on China for metals crucial to weapons, electronics, and battery production.

    Ukraine’s mining sector has seen minimal investment over the past few decades, with most geological data still based on Soviet-era surveys. CDM Engineering Ukraine teams have only recently begun conducting groundwater testing at sites like the Polokhivske lithium deposit in Kirovohrad Oblast.

    Despite Trump-era claims estimating Ukraine’s rare earth value at $500 billion, experts have called these figures largely unfounded. Moreover, the country lacks confirmed reserves of the 17 rare earth metals vital to defense and electronics. Key oil and gas fields remain in conflict zones, while significant infrastructure damage continues to pose logistical challenges and deter investors.

    Former Biden administration official Zumwalt-Forbes and SAFE minerals expert Abigail Hunter both emphasized that even Ukraine’s confirmed lithium reserves are modest and predominantly located in Russian-occupied territories. Hunter added that infrastructure damage further undermines potential investor returns.

    Despite these substantial setbacks, some analysts maintain that the deal holds political value. “It signals that the US is engaged in Ukraine’s economy as a strategic partner,” said Jay Truesdale of TD International, acknowledging the possibility of long-term investment benefits.

  • Kyrgyz Prime Minister Calls for Greater US Investment During Washington Visit

    Kyrgyz Prime Minister Calls for Greater US Investment During Washington Visit

    During his working visit to Washington, Prime Minister Adylbek Kasymaliev participated in a roundtable with members of the Kyrgyz-American Business Council, where he urged American companies to increase their investments in Kyrgyzstan’s economy, the Kyrgyz government reported.

    Kasymaliev emphasized that direct foreign investments from the United States serve as a significant driver of economic growth for the country. He assured that Kyrgyzstan is ready to offer favorable conditions for investors, including liberal tax policies, access to free economic zones, and markets with a combined population of over 500 million people.

    “Kyrgyzstan today is a country of new opportunities and prospects, with a dynamically developing economy and open policies. We are prepared to provide comprehensive support for investment projects at all stages of implementation and offer the necessary state assistance,” Kasymaliev stated.

    He highlighted priority sectors for investment, including:

    • The launch of Kambar-Ata Hydroelectric Power Plant-1;

    • Tourism development, supported by a visa-free regime and the country’s unique natural landscapes.

    “Mining and mineral processing are also priority sectors. Kyrgyzstan is ready to offer reliable and environmentally responsible partnerships in the exploration and processing of critical resources,” Kasymaliev added.

    The Prime Minister expressed confidence in expanding Kyrgyz-American economic cooperation and invited US entrepreneurs to visit Kyrgyzstan to assess investment opportunities firsthand.

  • Nationalist Surge in Romania’s Election Shakes Mining Sector and Western Alliances

    Nationalist Surge in Romania’s Election Shakes Mining Sector and Western Alliances

    Romania’s political future has entered uncharted territory after George Simion, a pro-Trump, nationalist candidate, surged ahead in the first round of the presidential election, triggering political upheaval and potentially redefining the country’s economic and geopolitical direction.

    Simion, who ran on a platform of economic nationalism, sovereignty, and resistance to foreign influence, resonated with voters increasingly disillusioned by EU integration and the perceived foreign control over Romania’s resources. In the wake of his strong showing, the current prime minister has indicated plans to resign, signaling a broader shake-up in governance.

    The implications of Simion’s rise are particularly significant for Romania’s critical minerals sector. The country is rich in rare earth elements, copper, and gold—resources that have attracted the attention of North American companies seeking alternatives to Chinese supply chains. Projects such as Euro Sun’s and Glencore’s Rovina Valley copper-gold venture have been labeled strategic by European authorities. However, Simion’s rhetoric against multinational corporations and foreign-led mining initiatives raises concerns about the future of such projects.

    The specter of increased resource nationalism looms large, with industry insiders warning that a Simion-led government may enforce tighter regulations, raise royalties, or revisit current licenses. These moves could deter foreign investment and reverse recent progress toward a stable, investor-friendly mining environment.

    Simion’s ascent also risks disrupting Romania’s role as a reliable US ally in Eastern Europe. With NATO’s eastern flank under strain due to Russia’s war in Ukraine, any pivot in Bucharest’s foreign policy stance could ripple across the region’s security architecture.

    The second and decisive round of voting, set for May 18, will determine whether this populist shift becomes a permanent fixture. The backdrop to this year’s vote includes the annulled results of a prior election marred by fraud accusations and alleged Russian interference, adding further tension to an already volatile political landscape.