“It was agreed that assistance provided prior to the signing of the agreement will not be counted towards it,” Ukrainian Prime Minister Denys Shmyhal wrote on his Telegram channel on Sunday night, according to the Financial Times. He added legal teams were finalizing the document and noted that Ukraine’s “red lines” had been clearly defined.

The agreement’s momentum follows a brief meeting between US President Donald Trump and Ukrainian President Volodymyr Zelenskiy at St. Peter’s Basilica on Saturday, ahead of Pope Francis’ funeral. The White House described the 15-minute conversation as “very productive,” while Zelenskiy called it “very symbolic” and said it had the “potential to become historic.”

Negotiations have been fraught. A signing ceremony for an earlier version of the agreement collapsed in February after a public clash between Trump and Zelensky in the Oval Office.

Signs of progress resurfaced Friday when Trump posted on Truth Social that the rare earths deal was “at least three weeks late” but hoped Ukraine would sign it “IMMEDIATELY.” He also claimed peace talks between Ukraine and Russia were advancing “smoothly”.

Senior Ukrainian officials told the Financial Times that the framework agreement covers all mineral resources, including oil, gas, and major energy assets across Ukraine.

A draft signed earlier this month would grant the US access to Ukraine’s critical mineral deposits — which include graphite, lithium, titanium, uranium, and rare earth elements vital to high-tech industries. 

Under the partnership, Kyiv would be required to channel all income from natural resource exploitation into a joint investment fund controlled by Washington, with the US holding first claim on profits. Ukraine has pushed for improved terms, including security guarantees, and successfully resisted efforts to recognize previous US aid as a form of debt.

Speaking at the Future of Energy Security summit held in London this week, IEA executive director Fatih Birol highlighted the strong expansion of clean energy technologies in recent years — while remarkable — also creates a new problem: the urgent need for raw materials.

“To manufacture this new clean energy technologies, you need critical minerals,” Birol said during the two-day event co-hosted by the British government. “We look at where the critical minerals are produced, where they are refined and where they are manufactured, that is a huge concentration, and this is something that we think is risky.”

According to the IEA, the world’s supply of critical minerals — such as copper, cobalt, lithium and rare earth elements — are currently dominated by China, the Democratic Republic of Congo, Australia, Chile, Indonesia and, to a lesser extent, the US.

This concentration of raw materials, said Birol, represents a “new emerging energy security challenge”, and the reason why the Agency launched its critical minerals program.

“Currently, we are A) not able to keep up with the demand, and B) the ability of manufacturing these critical minerals is concentrated in one single country or two,” Birol said in a speech last year when announcing the program.

In response to this challenge, the IEA urged nations to focus on policies that promote the diversification of mineral sources and move away from “critical mineral monopolies.”

“Most of these critical minerals are currently controlled by just one or two countries and it is important to ensure diversity in clean energy,” Birol told reporters from Turkish state-owned news agency Anadolu on Friday.

“This is not about whether a country is good or bad. If there is a technical problem or a geopolitical development in that country, entire energy supply chains could be jeopardized,” he said.

On the sidelines of the summit, Birol noted China’s dominance in the critical minerals sector and its contribution to low-cost clean energy technologies. The Asian nation is the main producer for 30 out of 50 minerals deemed critical by the US, and is the world’s top miner and processor of rare earths.

Speaking at a conference organized by the Hamm Institute for American Energy this week, Burgum said the Trump administration is exploring various investment strategies — including a sovereign wealth fund — to strengthen the US supply of critical minerals such as rare earths.

As first reported by CNBC, Burgum told the conference Wednesday the government should use its balance sheet to make investments and that the world’s largest economy should be able to have the biggest sovereign wealth fund.

However, such funds as held by Norway, Saudi Arabia and the United Arab Emirates are fed by strong resource-rich export surpluses, which the US doesn’t have federally. Washington runs persistent budget deficits rather than surpluses, and the country’s political and structural preferences favour private capital markets over state-owned investment funds. Still, some states such as Alaska, Texas, California and New York control large investment funds.

Burgum, who previously served as the governor of North Dakota, said a government fund would be able to repay companies that invest in approved projects if changing political winds in Washington rescinded support.

Dominant China

China is the top global producer of 30 of the 50 minerals that the US Geological Survey considers to be critical. For rare earths, which comprises a group of 17 elements, it has a near monopoly over the global supply chain, accounting for over 60% of the mine production and nearly all of the processing.

The US, meanwhile, has limited domestic production and imported about 80% of the rare earths it used last year, with most of those coming from China.

Amid heightened trade conflicts between the world’s two biggest economies, China has weaponized its critical minerals dominance by imposing export restrictions on seven rare earths, highlighting the urgency for US to developing its own sources.

Fast-tracked projects

Last week, the White House identified 10 mining projects to be fast-tracked under the FAST-41 permitting initiative. These include projects covering copper, lithium and antimony in states such as Idaho, Arizona and Nevada.

On Wednesday, Burgum’s Interior Department announced that it will expedite the development of domestic energy resources and critical minerals. Under the new emergency permitting system, mine project approvals could be reduced from years down to just 28 days at most.

As part of its plan to boost domestic production of critical minerals, the Trump administration has also proposed to build metals refining facilities on Pentagon military bases as part of an executive order last month, Reuters previously reported.

In response to punitive tariffs imposed by Washington, Beijing earlier this month added seven rare earths to its export control list. While the metals actually occur fairly commonly in the Earth’s crust, they are not frequently found in concentrated deposits. They can also require a multistep process to isolate individual elements — and China controls not only mining, but the vast majority of global refining capacity.

The US, meanwhile, has almost no processing ability for the targeted metals, according to data from consultancy Project Blue.

Beijing has said that it is establishing controls because the metals are used in advanced technologies and for powerful magnets, and so are considered dual-use items — meaning materials with civilian but also military applications.

“These products and elements directly impact the development of key technologies and supporting industries in other major markets,” said David Merriman, Project Blue’s research director. “This improves China’s leverage in any negotiations.”

Here are some of the main applications for the seven metals — out of 17 on the commonly accepted list of rare earths — that are now on Beijing’s restricted list.

Terbium

This soft, silvery metal can be found in light bulbs, while it also enables the vibrant colors on smartphone screens, according to the Royal Society of Chemistry. Terbium adds temperature resiliency to magnets used in aircraft, submarines and missiles. It’s “one of the hardest elements to source,” as it makes up less than 1% of the total rare earth content in most deposits, the US Department of Defense has said.

China exports as much as 85% of its terbium to Japan, while other destinations include South Korea and the US, which takes around 5%, according to Bloomberg calculations based on Chinese customs data.

Yttrium

Yttrium is used to treat liver cancer, and in the production of lasers for dental and medical surgeries. It also increases the strength of alloys, and its resistance to heat and shocks means its ideal for high-temperature superconductors.

Yttrium has been mined as a product at the Mountain Pass Mine in California, but concentrates are exported for processing as there’s no fully commercial separation facility in the US. Around 93% of US imports of yttrium compounds came from China in the four years through 2023, according to the US Geological Survey.

Dysprosium

The name of this bright metal is derived from the Greek for hard to obtain.

Resistant to high temperatures, dysprosium is mainly used in alloys for magnets deployed in motors or generators. It’s particularly important for the clean-energy transition as the magnets are used in wind turbines and electrical vehicles. A form of dysprosium can also be used in nuclear reactor control rods as it readily absorbs neutrons.

China ships over half of its dysprosium to Japan, and about a 10th to South Korea, while just 0.1% of that goes to the US. Australia’s Lynas Rare Earths Ltd. is expected to expand its plant in Malaysia to produce dysprosium and terbium by June.

Gadolinium

If you ever had an MRI scan, you may well have received an injection of a gadolinium-based dye, which reacts with magnetic forces to improve visibility of the body’s organs in medical imaging.

Gadolinium is also effective in enhancing the performance of alloys. Adding small amounts of the mineral can improve the resistance to high temperatures and oxidation, helpful for metals used to make magnets, electronic components and data storage disks.

Its neutron-absorbing capability also makes it an ingredient for the core of nuclear reactors.

Lutetium

This is a hard and dense metal, unlike most of the rest of the elements being targeted.

Lutetium is used a chemical catalyst fluid in oil refiners. The US buys almost all of its supply of the metal from China, which also exports a small amount to Japan.

Samarium

Samarium-cobalt alloys are on a US list of critical metals for potential stockpiling.

Once commonly found in headphones, it’s used in super magnets that are in turbines and cars, as well as having wider defense applications, because it can remain magnetic at higher temperatures. Samarium also goes into optical lasers and nuclear reactors.

Scandium

The metal is named after Scandinavia because it was first discovered in the Northern European region. Scandium can be extracted from mine tailings, or as a by-product of mining for uranium or other metals.

Baseball bats and bicycle frames may contain traces of scandium. Given its low density and high melting point, the metal is also used to make components for fighter planes. Its radioactive properties also makes it ideal as a tracer in oil refining, or in underground pipes for detecting leaks.

Scandium was last produced in the US more than 50 years ago, according to the USGS. For scandium and yttrium combined, the country now takes 14% of China’s exports, according to customs data, while Japan is the biggest buyer. In the European Union, there’s also no current production of scandium, but a project will be commissioned next year.

Off the list: Neodymium, praseodymium

Neodymium and praseodymium are not being targeted in this round of trade salvos. These two metals, however, are by far the most common rare-earth elements because of their important roles in making permanent magnet motors.

Neodymium and praseodymium convert the electricity stored in a battery into motion — to rotate the wheels of an electric vehicle, for instance. They can also work in the opposite direction to turn motion into electricity, such as from the spinning of wind turbine blades.

MP Materials reopened Mountain Pass in California’s Mojave Desert in 2018, the only operational rare earths mine in the country which now has refining capabilities. Last year, the US produced 1,130 tons of refined neodymium-praseodymium, according to Project Blue.

That compares to more than 58,300 tons produced in China.

Read More: Trump orders tariff probe on all US critical mineral imports

Production at Halleck Creek could start in 2029, Gibbs said. With a JORC-compliant resource of more than 2.6 billion tonnes total rare earth oxides, Halleck Creek hosts one of the largest deposits of the critical metals in North America, a feature that has drawn significant interest in the United States.

“Three years ago we got ourselves dual listed on OTC markets [and] we were the third-largest traded stock of all OTC markets in 2024,” Gibbs said in an interview last month at the annual Prospectors and Developers Association of Canada convention in Toronto. “We’re getting more volumes from the OTC than we’re getting on the ASX. It shows the interest we’re attracting now from investors in the U.S.”

The company is now focused on permitting after Wyoming in January granted it a licence to explore by bulk testing.

Watch the full conversation with The Northern Miner’s western editor, Henry Lazenby:

Indicated resources in Crater Lake’s TG zone are now estimated at 16.3 million tonnes grading 277.9 grams per tonne of scandium, Scandium Canada said Thursday. Inferred resources are estimated to be 20.9 million tonnes grading 271.7 grams per tonne, 31% more than previously calculated, the company also said.

Located 200 km northeast of Schefferville near Labrador, Crater Lake is regarded as one of the world’s largest primary scandium projects. The property covers 47 sq. km and is accessible via airplane or helicopter.

As it advances toward a prefeasibility study for Crater Lake, the company is holding talks with potential investors, indicating “strong interest” in its scandium and rare earth elements. It completed a preliminary economic assessment of the project in 2022.

“We continue to have discussions with potential strategic investors as well as off-takers of scandium, aluminum-scandium alloys and rare earth elements and are pleased with the interest we are getting,” Scandium Canada CEO Guy Bourassa said. “A project update will be issued shortly.”

Scandium Canada shares jumped 33% to C$0.02 in early trading Friday on the TSX Venture Exchange. That gave the company a market capitalization of C$6.2 million.

Potential increase

The new mineral resource estimate incorporates data from a 2024 drilling program, which consisted of seven drillholes with a cumulative length of 1,185 metres. Mineralization remains open laterally and at depth, demonstrating the potential to increase the mineral resource with additional drilling, Scandium Canada said.

Based on a net smelter return value of C$205.54 per tonne for potential open-pit extraction, the value of mineralization could range from C$369 to C$379 per tonne, Scandium Canada said.

Scandium is classified as a rare earth element. It can be combined with aluminium to produce an alloy that’s as strong as steel and titanium while weighing around one-third of steel.

Separately, Scandium Canada said yesterday it closed the first tranche of a previously announced non-brokered private placement by way of unsecured loan agreements. Gross proceeds, amounting to C$410,000, will be used for general administrative expenses and the development of aluminum-scandium powders.

Kazakhstan does not currently feature in the US Geological Survey’s list of countries by rare earth metal deposits. If confirmed, the deposit would place Kazakhstan behind only China and Brazil by size of reserves.

In a statement on Telegram, the ministry said that the Zhana Kazakhstan site, which is 420 km (261 miles) from the country’s capital, contained neodymium, cerium, lanthanum and yttrium, and that its average rare earth metal content is 700 grams per ton.

It did not specify which companies may develop the site, or when.

(By Mariya Gordeyeva and Felix Light; Editing by Louise Heavens)

The Washington, DC-based firm said the collaboration is a crucial step in strengthening western supply chains as Tanbreez is positioned to serve both US and European markets.

Rare earths consist of 17 key minerals used in technologies and defense applications.

The only active rare earths mine in the US is the Mountain Pass in California, owned by MP Materials (NYSE: MP), which produces separated and refined rare earths, including praseodymium-neodymium oxide, cerium and lanthanum.

The Tanbreez project, located in southern Greenland and owned by Critical Metals (Nasdaq: CRML), represents one of the largest untapped heavy rare earths (HREE) deposits outside China with over 27% HREE content.

China controls roughly 60% of rare earth production and 85% of processing capacity worldwide. As of 2023, its total mine production was 240,000 tonnes, nearly six times that of the US.

Critcal Minerals this week released a preliminary economic assessment on Tanbreez, estimating a net present value (NPV) of $3.04 billion (approximately $2.8 billion to $3.6 billion at discount rates of 15% and 12.5%, respectively, before tax), with an internal rate of return (IRR) of 180%.

The NPV and IRR calculations were based off an initial mineral resource estimate totalling 44.97 million tonnes of rare earth materials (indicated and inferred), which is roughly 1% of the resources within the host rock.

Earlier this month, Critical Metals confirmed the Tanbreez resource through the release of a technical report in compliance with Regulation S-K 1300.

The Tanbreez project will follow a phased growth strategy, with initial production of around 85,000 tonnes of rare earth oxides per annum, scalable to 425,000 tonnes after modular expansion. The resource base of 45 million tonnes grading 0.40% total rare earth oxides, with 27% in heavy rare earths (Dy, Tb, Y), is open laterally and at depth.

“As the only shovel ready rare earth project in Greenland, Tanbreez represents a game-changing opportunity for both the Greenlandic economy and the critical minerals supply chain in North America and Europe,” GreenMet CEO Drew Horn said in a news release.

The project has deep-water fjord access, proximity to existing infrastructure and a mining license granted through 2050.

Once operational, Tanbreez is expected to provide a steady supply of rare earth elements, particularly for the defense sector and high-tech industries.

The partnership will also support the continued development of Greenland’s growing mineral sector, with the aim that the country become a key global supplier of critical minerals, GreenMet said.

The company is also looking at other permitted rare earths projects to develop and scale up in Greenland, Horn told MINING.com host Devan Murugan in an interview.

Watch it here:

It made on-spec neodymium-praseodymium (NdPr) in less than a week at its White Mesa uranium mill in Utah. The plant is part of the company’s plan to build a U.S. mineral hub that produces uranium, rare earth elements and heavy mineral sands, Chalmers said.

“Some people have told me it’s going to take years to get there and we did it in literally a week,” the CEO said at the Prospectors and Developers Association of Canada’s annual convention in Toronto. “We have a market cap of about $1 billion and it provided us with the strength to execute our strategy.”

Energy Fuels uses its experience to recover uranium from different feed streams. It also processes monazite, which contains rare earth oxides. The company seeks to scale production to 6,000 tonnes a year of NdPr and advance projects in Madagascar, Australia and Brazil.

Watch the full interview below with The Northern Miner western editor, Henry Lazenby.

“Rare earth metals are an important area of cooperation and, of course, we have started discussions on various rare earth metals and projects in Russia,” Dmitriev told pro-Kremlin Russian newspaper Izvestia.

Dmitriev, who was part of Russia’s negotiating team at talks with US officials in Saudi Arabia in February, said some companies have expressed interest in potential joint ventures. 

The Kremlin noted that such discussions remained in the early stages. “There are no specifics here yet, but the interest is evident,” spokesman Dmitry Peskov said on Monday. “The interest is mutual, because we’re talking about mutually-beneficial projects.” 

Izvestia reported the cooperation on rare earths could be further discussed at the next round of Russia-US talks, expected to take place in Saudi Arabia in the coming weeks.

Russian President Vladimir Putin suggested in February the Washington might be open to exploring rare earth deposits in Russia, which holds the world’s fifth-largest reserves of the metals, used in magnets, mobile phones and military equipment.

“We would gladly work with any foreign partners including with Americans,” Putin said at the time, listing various regions including Siberia and and Russia’s Far East as key regions for rare earths mining.

US President Donald Trump said last week his administration would sign a wide-ranging minerals and natural resources deal with Ukraine soon. President Volodymyr Zelenskiy responded by saying he would not accept any agreement that threatened the country’s integration with the European Union.

Ukraine may have little choice but to proceed if it wants continued U.S. military support. 

Trump has claimed the impending deal would allow the US to recoup hundreds of billions of dollars spent on military aid to Kyiv. Ukraine, in turn, wants the agreement to include long-term US security guarantees against future Russian aggression.

The US Geological Survey estimates Russia’s reserves of rare earth metals at 3.8 million tonnes, but Moscow claims the actual figure is significantly higher.

(With files from Reuters)

 As the world grapples with this mineral demand explosion, a significant shift has occurred in the United States.

On March 20, 2025, President Donald Trump signed an executive order titled “Immediate Measures to Increase American Mineral Production,” invoking the Defense Production Act to boost domestic production of critical minerals.  

This bold move aims to reduce U.S. reliance on foreign sources, particularly China, which currently dominates the global supply chain for many critical minerals. The order includes sweeping initiatives to expedite permitting, open federal lands for mining projects, and incentivise both private and public capital investments in the sector. 

Yet, as nations and industries rush to secure critical minerals, the mining industry finds itself confronting two pressing challenges: sustainability and safety. The sector must balance the surging demand with environmental stewardship and worker protection, ensuring that the pursuit of these essential resources does not come at the cost of ecological damage or human lives. This delicate equilibrium will define the future of mining in an increasingly resource-hungry world. 

The clean energy revolution has placed unprecedented pressure on mining operations worldwide. Lithium demand is projected to increase by over 40 times by 2040 in the Net Zero Emissions scenario, while copper requirements are set to double. Rare earth elements, indispensable for wind turbines and electric motors, are experiencing similar surges in demand. This growth underscores the urgent need for efficient extraction methods and sustainable practices that minimise environmental impact. 

In response, mining companies are increasingly adopting innovative technologies to meet these demands.  Electric vehicle (EV) fleets are emerging as game-changers reducing emissions in mining operations. This shift is exemplified by Pakistan’s Sindh Engro Coal Mining Company (SECMC), which recently deployed EV mining trucks, significantly lowering both operational costs and environmental impact. 

While electrification leads the charge, the industry is adopting a multi-pronged approach to sustainability. Liquefied Natural Gas (LNG) is playing a pivotal role in bridging the gap between traditional energy sources and renewables. As the world’s largest LNG exporter, the United States is at the forefront of this transition, supporting mining operations globally in their decarbonisation efforts. This strategic integration of cleaner fuels complements the electrification drive, showcasing the industry’s commitment to aligning with global decarbonisation goals.  

Such initiatives highlight the industry’s potential to align itself with global decarbonisation goals, demonstrating a multi-faceted approach to sustainability that combines electrification, cleaner fuels, and innovative extraction methods.  

While sustainability garners attention, safety remains an urgent concern. Fatal accidents in mining operations, such as those reported at the Simandou iron ore project in Guinea, expose systemic issues in worker protection. Methane explosions, mudslides, and collapsing shafts are tragically common, compounded by weak enforcement of safety regulations and inadequate training. Occupational diseases like silicosis and lung cancer further underscore the human cost of unsafe mining environments. 

Addressing these challenges requires a dual approach: stricter regulatory oversight and investment in modern safety technologies. Governments must enforce robust safety protocols while incentivising companies to adopt advanced monitoring systems that detect hazards before they escalate into disasters. 

As the mineral industry faces rapid and almost overwhelming growth, platforms for dialogue and collaboration are becoming increasingly vital. The challenges posed by sustainability, safety, and surging demand require collective solutions, making opportunities for companies, ministers, and industry professionals to exchange ideas more important than ever. In this context, Pakistan is stepping forward with its upcoming Pakistan Minerals Investment Forum 2025 (PMIF), scheduled for April 8-9 in Islamabad. 

This event aims to attract global stakeholders to unlock Pakistan’s vast mineral wealth, while showcasing policy reforms designed to modernise the sector.  By bringing together industry leaders, policymakers, and investors, this represents a transformative opportunity to address pressing challenges while driving economic growth through responsible resource management. 

The future of mining hinges on balancing economic growth with environmental stewardship and worker safety. Companies must embrace technological innovation not only to boost efficiency but also to safeguard lives and ecosystems. Governments must enforce stringent regulations while fostering international cooperation to diversify supply chains away from geopolitical risks. 

As demand for critical minerals continues to grow, the mining industry has an opportunity—and a responsibility—to redefine itself as a cornerstone of sustainable development. By prioritising safety, embracing green technologies, and forging global partnerships, the sector can secure its place in a decarbonised world while ensuring its operations benefit both people and planet. 

In this pivotal moment for mining, sustainability is not just an option—it is a necessity.

— Cyril Widdershoven is the founder and CEO of investment consultancy Verocy.

“We have passed along a completed document for the economic partnership (that) is currently being reviewed by Ukrainians, and we hope to go to full discussions and perhaps even get signatures next week,” he said in an interview with Fox News.

Late on Tuesday, Ukrainian President Volodymyr Zelenskiy confirmed to the press that the US has offered Kyiv a new version of the minerals deal that extends beyond the framework agreed upon last month.

The proposed new deal follows a media brief by US President Donald Trump before Monday’s Cabinet meeting that an agreement will be “signed soon”.

The two countries were initially open to signing a deal back in February, but that was called off following a heated clash between Trump and Zelenskiy at the White House.

While details of the “new minerals deal” are undisclosed, Zelenskiy has confirmed the proposal does not include US involvement in its nuclear power sector, as Trump had suggested previously. All he could say was that the deal represents a “large, comprehensive agreement.”

One Ukrainian official told the Financial Times that Washington had brought up the nuclear issue in discussions but did not include it in the new proposal. Zelenskiy previously confirmed that the countries had conversations about the Zaporizhzhia power plant, which is Europe’s largest and now under Russian control, but talks did not go beyond that.

“Previously, we had a framework agreement, followed by the development of a full agreement. Now, the American side has proposed a grand agreement right away,” the Ukrainian President said on Tuesday.

A US Treasury spokesperson told Financial Times that “the United States remains committed to the quick conclusion of this vital agreement and to securing a lasting peace for both Ukraine and Russia.”

Under the previous framework, the minerals agreement would establish a fund to which Ukraine would contribute 50% of proceeds from the future profits of the extraction of state-owned natural resources.

News reports have suggested that Ukraine holds upwards of $10 trillion in mineral deposits, including those containing rare earth elements that are key raw materials in defense and high-tech applications. However, these deposits have yet to be internationally recognized as economically viable. Ukrainian data shows that the country has deposits of 22 of the 34 minerals identified by the EU as critical.

The European Union (EU) has published its first list of strategic projects strengthening the local extraction, processing, and recycling of 14 of the 17 materials it deems critical for its energy transition and security.

The selection of the 47 projects mark a key step in implementing the Critical Raw Materials Act (CRMA), which sets targets for 2030, including extracting 10% of the EU’s annual consumption, processing 40%, and recycling 25% of these essential materials.

“Europe currently depends on third countries for many of the raw materials it needs the most. We must increase our own production, diversify our external supply, and make stockpiles,” EU executive vice-president for prosperity and industrial strategy, Stéphane Séjourné, said in a statement.

The selected projects span 13 EU member states — Belgium, France, Italy, Germany, Spain, Estonia, Czechia, Greece, Sweden, Finland, Portugal, Poland, and Romania. They focus on key metals and minerals such as aluminium, boron, copper, cobalt, graphite, lithium, nickel and rare earths.

Of the 47 initiatives, 25 involve extraction, 24 focus on processing, and 10 are dedicated to recycling, with some covering multiple functions, the European Commission (EC), which is the EU executive body, said.

For a project to be deemed strategic, the EC must confirm its technical feasibility within a reasonable timeframe and have confidence it can meet production targets while operating sustainably.

Environmental and community organizations argue that some of the selected projects, including the Barroso lithium mine in Portugal and the Rovina gold-copper project in Romania, have faced long standing opposition.

“The Rovina gold-copper open cast mine will destroy pristine nature and displace communities and the Commission’s designation legitimizes a project deemed illegal by courts in Romania,” Roxana Pencea-Bradatan from MiningWatch Romania said in a statement. “This is destruction, not development.”

Another project designated as “strategic” is Anglo American’s (LON: AAL) Sakatti copper operation in Finland. The mine is set to produce 100,000 tonnes of copper equivalent a year starting in the early 2030s.

Speeding up development

The CRMA entered into force in May last year and the Commission immediately opened applications for projects considered strategic to the bloc, including those outside the EU.

More project lists will follow to address remaining critical materials, including ventures beyond EU borders. 

Lithium features in 22 of the selected projects, followed by 12 for nickel, 11 for graphite, 10 for cobalt, and seven for manganese, bolstering the battery supply chain. A magnesium project and three tungsten initiatives will support the EU’s defence industry.

The proposed mines and facilities will benefit from streamlined permitting, with a maximum process of 27 months for mining and 15 months for processing or recycling—an attempt to bypass regulatory bottlenecks that have delayed green projects across the bloc.

A financing group will also help fast-track these capital-intensive initiatives, offering public guarantees from national banks, the European Investment Bank, and the European Bank for Reconstruction and Development to attract private investment.

Emanuel Proença, chief executive of Savannah Resources (LON: SAV), the British company advancing Portugal’s Barroso lithium project, said the obtention of strategic status marked a significant step toward strengthening Europe’s supply of raw materials.

Savannah plans to construct four open-pit mines in the region to produce enough lithium annually for 500,000 to 1 million electric vehicle batteries. The company is targeting first commercial output by 2027.

Keith Coughlan, of European Metals (ASX:EMH), called the designation of the Cinovec lithium project in the Czech Republic a “major milestone” for the lithium developer.

Talga Group’s (ASX: TLG) CEO Martin Phillips said the designation of the company’s Vittangi graphite project in Sweden enhances the company’s ability to secure financing and finalize offtake agreements.

“Graphite is critical to the lithium-ion battery industry, and increasing EU capacity to produce battery-grade graphite is essential for Europe’s resilience and competitiveness,” he said.

The EC plans to open a new application process for additional strategic projects before the end of the summer, creating further opportunities for investment and development in the raw materials sector.

In a notice posted Friday on its registry, the Impact Assessment Agency of Canada (IAAC) says it’s inviting feedback from Indigenous peoples and the public on Torngat’s initial project description. Virtual public information sessions will be held in English and French on Oct. 30 and Nov. 2, and feedback can also be emailed to IAAC. Comments will help the agency write up a summary of issues related to the project and decide if it should undergo impact assessment. As part of the assessment, the IAAC is working with the governments of Nunatsiavut and Newfoundland and Labrador and comments received will be shared among the jurisdictions.

Privately owned Torngat says it has funding to complete a prefeasibility study for the project next year, followed by a feasibility study. Strategic partner Cerberus Capital is providing US$50 million. Strange Lake is located in the Nunavik region, about 235 km northeast of Schefferville, Que.

According to Torngat’s proposal on the IAAC website, the Strange Lake open-pit mine would comprise a 1,500-metre-long airstrip, a new metal mill with capacity of 17,000 tonnes per day, waste rock and tailings piles, and related buildings.

Torngat would also build a seasonal road of about 160 km between the site and the port of Voisey’s Bay, on the Labrador coast, where Vale’s (NYSE: VALE) nickel-copper mine is located. The mined rare earth concentrate would then be transported by road and then shipped to a separation plant in Sept-Îles, about 650 km northeast of Quebec City.

The start of public consultations comes almost a decade after Torngat’s predecessor, the publicly traded Quest Rare Minerals released a prefeasibility study for Strange Lake. Quest later filed for bankruptcy in 2018. Torngat is planning to release its own prefeasibility study next year, to be followed by a feasibility study.

Production of rare earths, which are essential components in technology that includes smart phones and permanent magnets that are used in cars, wind turbines and other applications, is dominated by China. There are no rare earth mines in Canada and only one in the United States — MP Materials’ Mountain Pass in California. Just last month, Vital Metals‘ (ASX: VML) Canadian processing subsidiary declared bankruptcy. Vital holds the Nechalacho rare earth project in the Northwest Territories.

Initial capital costs for Strange Lake in Quest’s now outdated study were pegged at $2.6 billion.

The study pegged indicated resources at Strange Lake’s main B-zone deposit at 278.1 million tonnes at 0.93% total rare earth oxides (TREO); 1.92% zirconium oxide and 0.18% niobium pentoxide. Inferred resources were 214.4 million tonnes of 0.85% TREO, 1.71% zirconium oxide and 0.14% niobium pentoxide.