Established in 2015, the MINEX Europe is an annual mining and exploration forum that brings together industry professionals, companies, and stakeholders to discuss key issues and opportunities in the European mining sector.  

The MINEX Forum focuses specifically on mining and exploration opportunities in Europe, particularly in countries that are rich in mineral resources but may not always receive as much global attention as major mining hubs like Canada, Australia, or Latin America. It brings together stakeholders from governments, companies, and investors who are interested in the European mining landscape, offering insights into regional trends, policy developments, and investment opportunities. 

Founded in 2015, MINEX Europe offers a platform for disseminating innovative technologies and promoting investment opportunities in mining and exploration across Europe. 

It brings together stakeholders from across the mining and exploration value chain, including industry, government, investors, and technology providers, to foster partnerships and knowledge sharing. 

MINEX Europe emphasises the importance of responsible and sustainable mining practices that minimise environmental impact and social benefits. 

The forum highlights attractive mining projects and investment opportunities in Europe, attracting capital and expertise to the region. 

MINEX Europe provides a platform to discuss and address the regulatory and policy hurdles that can hinder mining project development in Europe. 

We are living in a time of unprecedented change, driven by the urgency of climate action and the rapid growth of artificial intelligence. The established economic order, built over decades of globalisation and outsourcing, is being fundamentally reshaped. 

Disruptions like the COVID-19 pandemic, combined with a widening gap between the global North and South, underscore the need for a new approach to economic and trade models. 

The rise of automation, renewable energy, and AI is facilitating a shift toward the localization of production. Countries are increasingly able to produce goods more efficiently, affordably, and sustainably within their own borders. This shift is shaping the future security of European nations, the dynamics of global trade alliances, and the very foundation of democracy as the dominant societal structure. 

Securing access to crucial raw materials is vital for Europe to remain competitive in this evolving global landscape. Without it, Europe risks becoming overly reliant on more competitive nations like the USA, China, and their allies—potentially exposing itself to economic and political vulnerability. 

Europe’s mining sector has never played such a crucial role in the modern era as it does today. The European Union (EU) does not produce or refine enough Critical Raw Materials (CRMs) to meet its industrial needs, making it heavily reliant on imports. According to the Jacques Delors Centre, this dependency on countries like China is a significant concern. China not only produces a substantial share of the world’s critical minerals but also dominates the refining and processing of many of them. Specifically, China refines 40% of the world’s copper, 60% of its lithium, 70% of its cobalt, and almost 100% of its graphite. The EU’s near-total reliance on China for rare earth materials, combined with this dominance in mineral processing, exposes Europe to serious risks of supply disruptions and price volatility, especially in light of geopolitical tensions. 

While it’s commonly believed that Europe lacks significant mineral resources, this is misleading. In fact, the continent possesses sizable untapped reserves of critical raw materials that require further exploration and investment to determine economic feasibility. However, decades of de-industrialisation and a shift toward sustainable energy sources have led to the decline of Europe’s mining sector, reducing its share of global mining output from around 40% at the start of the 20th century to just 3% today. 

Contrary to popular belief, Europe possesses significant resources of critical materials, which it currently imports from other countries.  

The EU’s dependence on foreign resources has reached a critical point. Despite having significant mineral reserves, the erosion of its mining industry has left it vulnerable to supply chain disruptions and geopolitical instability. The war in Ukraine starkly highlighted the dangers of over-relying on a single supplier for essential materials. This has prompted the EU to prioritise the revival of its mining industry, particularly for the critical minerals necessary to support the green energy transition. 

As global demand for these materials surges, Europe must secure its own supply to avoid repeating the mistakes of energy dependency. The EU’s Critical Raw Materials Act, introduced in 2023, is an important step toward enhancing domestic mining capacity and reducing reliance on imports. This effort is not just about economic competitiveness; it’s about ensuring Europe’s future in a world increasingly marked by resource scarcity and geopolitical competition. 

Europe’s limited conventional energy resources—particularly beyond natural gas and coal—have further emphasized the need for sustainable energy alternatives, including wind, solar, geothermal, and, in some cases, nuclear power. Industry projections suggest that meeting global energy transition demands could require the opening of over 300 new mines worldwide by 2030. 

According to the Euromines 2024-2030 Manifesto, Europe faces two alternatives.  

Path 1: Continued dependency, where Europe abandons its mining industry in favour of high imports, resulting in lower Environmental, Social, and Governance (ESG) standards, diminished strategic autonomy, and decreased resilience. 

Path 2: Starting 20-30 new strategic mining projects in Europe by 2030, creating a sustainable and prosperous mining industry that strengthens Europe’s strategic autonomy and aligns with European ESG values. 

Europe’s mining sector has never played such a crucial role in the modern era as it does today. The European Union (EU) does not produce or refine enough Critical Raw Materials (CRMs) to meet its industrial needs, making it heavily reliant on imports. According to the Jacques Delors Centre, this dependency on countries like China is a significant concern. China not only produces a substantial share of the world’s critical minerals but also dominates the refining and processing of many of them. Specifically, China refines 40% of the world’s copper, 60% of its lithium, 70% of its cobalt, and almost 100% of its graphite. The EU’s near-total reliance on China for rare earth materials, combined with this dominance in mineral processing, exposes Europe to serious risks of supply disruptions and price volatility, especially in light of geopolitical tensions. 

By the beginning of 2025, Europe’s population surpassed 744 million people, with 448 million of those residing in the EU, representing about 5.6% of the world’s population. In terms of total consumption expenditure, Europe accounts for roughly 30% of the global total, according to the World Bank. As of 2022, the EU’s energy independence represented 42.9%, with a per capita energy consumption of 2.8 tonnes of oil equivalent (toe). This is similar to China’s consumption, higher than the global average of 1.8 toe per person, but much lower than the United States, which consumes about 5.0 toe per person. Europe (EU-27 countries) accounts for roughly 20-25% of global consumer goods consumption, varying by category. However, Europe’s consumption patterns are considered unsustainable, exceeding several planetary boundaries in areas such as climate change and resource use. Since 2010, the EU’s consumption footprint has increased by 4%, despite efforts to reduce it. 

For centuries, European nations have relied on the natural and human resources of developing countries to fuel their own economic growth and welfare. This exploitation led to the dumping of mining waste and contributed to pollution in poorer parts of the world. If European countries want to continue enjoying their relative comforts and remain major players in global trade, they need to embark on rapid re-industrialisation. Reviving sustainable mining, promoting technological innovation, and embracing a circular economy are crucial to Europe’s future. Moreover, countries rich in minerals must play an active role in addressing climate change and fostering sustainable development, moving beyond the “Not In My Backyard” (NIMBY) approach to assume global responsibility. 

To put it perspective, 2344 mines were shut down in 14-year’s period according to CDC (from 14,907 in 2022 to 12,563).  Since 2022 the trend has been reversed. For example, as of September 2024, there are 138 major mining projects under construction or planned over the next ten years in, which have a combined potential capital value of $117.1B. This is an increase of 9 mining projects and $23.5B (+25.1%) in total capital value since 2023.  

To put things in perspective, 2,344 mines were shut down over a 14-year period, according to the CDC (reducing the total from 14,907 in 2022 to 12,563). However, since 2022, this trend has reversed. For example, in Canada, as of September 2024, there are 138 major mining projects under construction or planned over the next ten years, with a combined potential capital value of $117.1 billion. This represents an increase of nine mining projects and $23.5 billion (a rise of 25.1%) in total capital value since 2023. 

By 2030, Australia could potentially see the opening of around 50 new lithium mines, 60 new nickel mines, and 17 new cobalt mines according to the Critical Minerals Strategy 2023–2030.  

The United States has outlined a number of strategic plans to ensure the development of critical raw materials by 2030, with the goal of reducing dependence on foreign sources, securing a stable supply for industries, and supporting the transition to clean energy. As of 2022, there were 12,563 active mines in the United States. Despite being home to one of the world’s leading minerals reserves, cumbersome permitting processes contribute to the U.S. remaining import-dependent for many key minerals.  In 2022, imports made up more than one-half of the U.S. apparent consumption for 51 nonfuel mineral commodities, and the United States was 100% net import reliant for 15 of those. 

In contrast, China had approximately 1,500 mining operations in 2020. The total value of metallic minerals and coal produced in China as of 2020 was nearly 218 billion U.S. dollars. China controls approximately 60% of global rare earth mining and is expanding lithium refining capacity by over 300% by 2030. Dozens of overseas projects are in development or negotiation phases, but many are expansions of existing operations rather than entirely new mines. 

There is no validated publicly available information about the number of new mines China plans to open globally by 2030. However, China’s strategic focus on securing critical minerals (e.g., lithium, cobalt, copper, rare earths) for its industries and green energy transition suggests significant expansion in mining activities, both domestically and internationally. China’s 2021–2025 Five-Year Plan and its “Dual Carbon” goals (peak emissions by 2030, carbon neutrality by 2060) emphasise securing minerals for: 

• Electric vehicles (EVs) (lithium, nickel, cobalt). 

• Renewable energy infrastructure (copper, rare earths for wind turbines/solar panels). 

• High-tech manufacturing (gallium, germanium, rare earths). 

Beyond the Scandinavian countries, which have embraced mining as a key driver of economic growth and independence, the revival of the mining industry in many of Europe’s mineral-rich regions faces significant challenges.  

One of the primary obstacles is Europe’s complex “red-tapism” surrounding mining licenses and approvals, where it can take over a decade to secure a mining permit. This process is far lengthier compared to countries like China or the USA, which can deter mining companies from relocating to Europe or increasing their investments in the continent’s mining sector. 

Furthermore, Europe’s robust environmental and conservation laws, coupled with strong local community opposition to new mines or expansions, present another challenge. Many crucial metal and mineral deposits are situated near ecologically sensitive or protected areas, requiring governments to navigate new projects with extreme caution. This becomes particularly complex as Europe pursues its ambitious 2030 net-zero targets, making the justification and approval of new mining operations, or even the continued operation of existing ones, increasingly difficult.  

Growing public awareness and activism, exemplified by recent protests in countries like Serbia, Spain, Sweden, and Germany, are also likely to drive the development of more stringent and sustainable mining policies. 

Additional obstacles to a European mining resurgence include elevated energy and extraction costs, technical complexities associated with certain deposits, and competition from lower-cost producers in other regions of the world. 

Metals and Minerals will play a central role in successfully building Europe’s clean technology value chains and meeting the EU’s 2050 climate-neutrality goal.   Focusing solely on deploying clean technologies without addressing the underlying raw materials base risks a climate transition to “Made in China”. The EU’s investigations into Chinese electric vehicle imports, alongside concerns about data transparency and market access, are likely to exacerbate this issue. 

Europe has a narrow window of opportunity to establish greater strategic autonomy and sustainability for its strategic metals. This can be achieved through optimised recycling, domestic value chain investment, and more active global sourcing. With new critical raw material sources being discovered across Europe and legislation facilitating their extraction gaining momentum, the EU needs to prioritise internal sourcing. However, decisive action is needed swiftly to avoid bottlenecks for several materials, which risk being in global short supply by the end of this decade. 

Eurometaux estimates that the EU needs to open at least 10 new mines, 15 new processing facilities and 15 recycling facilities for key SRMs by 2030 (while no mine has opened in the past 15 years in the EU), and to finance 15 CRM-related projects in third countries through the Global Gateway. To boost its mining industry, Europe needs a collaborative effort from policymakers, financiers, midstream and downstream industries, innovation centres, and general societal acceptance. 

A key legislative initiative is the Critical Raw Materials Act, designed to bolster Europe’s domestic mining capabilities and rare earth mineral production. This act aims to reduce bureaucracy, foster innovation, and explore alternative materials. It will establish clearer, more stable frameworks for recycling and mining projects, streamline authorisation processes, and likely provide economic incentives and greater support for small and medium-sized enterprises (SMEs). With ambitious recycling targets, the act also aims to minimise waste from the outset, thereby reducing the need for new mining operations. 

Additionally, the EU block need to work towards establishing strategic partnerships with third countries. Not only can this lead to significant foreign investment in Europe’s mining sector but can also increase knowledge sharing and attract highly talented and skilled foreign labour. 

To achieve its climate goals and lessen reliance on other countries like China, Europe might need to ramp up mining to tap into its own rare earth mineral reserves. If this situation deteriorates, it may be more difficult for Europe to access its rare earth minerals from China down the line. So now is possibly the best time to ramp up domestic supply. 

The Euromines roadmap offers a potential solution to those challenges. By prioritising electrification, carbon capture, and digitalisation, the plan seeks to align Europe’s mining industry with the EU’s climate goals, positioning it as a cornerstone of the continent’s industrial strategy. 

Europe’s mining revival is not simply a matter of economic expediency; it is a strategic imperative for securing its future in a rapidly changing world. While the challenges are significant, the potential benefits – in terms of economic growth, job creation, and strategic autonomy – are substantial. However, this revival must be pursued sustainably, minimising environmental impact and ensuring social responsibility. Europe must lead the way in developing responsible mining practices that can serve as a model for the rest of the world. This includes investing in recycling technologies and promoting a circular economy to reduce overall resource demand. Furthermore, addressing the historical injustices associated with resource extraction and ensuring equitable access to the benefits of mining are essential for long-term sustainability and social cohesion.