At the beginning of April this year, China suspended exports of heavy rare earths in response to US President Donald Trump’s tariff policy. This affects not only the US, but industries worldwide, including Germany. In various issues of Mining Report Glückauf, we have repeatedly pointed out our country’s dependence on imports of mineral raw materials and the need to counteract this dependence in Europe and, if possible, in Germany by developing our own deposits. Neither Germany nor Europe has yet come up with any concrete proposals. One reason for this is the high investment risk involved in financing such projects. This issue of Mining Report Glückauf therefore focuses primarily on possible solutions for financing mining projects …
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With my best regards // Mit freundlichem Glückauf
Dipl.-Ing. Andreas-Peter Sitte
Chief Editor Mining Report Glückauf, Essen
ISSUE 03/2025 // FOCUS OF THIS ISSUE:
Financing Mining Projects
VISION ZERO Sustainable Mining 2025 Conference: Responsible Leadership – Sustainable Partnership: Shaping the Future of Mining
The 2025 VISION ZERO Conference will be held at the TH Georg Agricola University (THGA) in Bochum/Germany, from 13th to 15th October 2025. This event is organized by the ISSA International Section on Prevention in Mining (ISSA Mining), RAG Aktiengesellschaft, the German Social Accident Insurance Institution for the raw materials and chemical industry (BG RCI), and THGA. Participation in the conference is free-of-charge. Registration link:
https://tinyurl.com/y2xrzw2e
Authors: Prof. Dr.-Ing. Peter Goerke-Mallet, Prof. Dr.-Ing. Jürgen Brune, TH Georg Agricola University (THGA), Bochum/Germany
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Mine Water Management of Hard Coal Mining for Eternity – Development, Current Situation and Outlook for the Implementation of the Mine Water Concept and for the Integral Monitoring of Mine Water Rise
Construction of the Gravenhorst mine water treatment plant. Photo: RAG
ased on the articles in the 2020 to 2022 annual reports of the Mining and Energy Department in NRW of the Arnsberg District Government, Dortmund/Germany, this article describes the further progress of the work to implement the mine water concept of RAG Aktiengesellschaft (RAG), Essen/Germany, with regard to the operating plans under mining law and the permits under water law, and provides an overview of the progress of the further development of the integral monitoring for the mine water rise.
Authors: LBD Dipl.-Ing. Wolfgang Dronia, BVD Dipl.-Ing. Philipp Hensel, BD Dipl.-Ing. Jürgen Kugel, BD Dipl.-Ing. Jörg Tuschmann, OBR Martin Wissen M. Sc., Bezirksregierung Arnsberg – Abteilung Bergbau und Energie in NRW, Dortmund/Germany
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Potential Price and Supply Risks on the Global Commodity Markets
Price difference of selected raw materials infected by Chinese export control mechanisms. Data as of 24th April 2024. Source: Fastmarkets, Argus Metals.
s a globally important importer of non-energy mineral raw materials, Germany is particularly caught between the current supply situation, changes in demand and geopolitical interests. This results in competition at various levels, on the one hand with regard to a secure and sustainable supply itself, and on the other hand with regard to ensuring a competitive cost structure for the products processed from these raw materials in Germany. This article describes the current challenges on the raw materials markets. It also refers to the latest political measures to flank industry activities in order to reduce their potential price and …
Authors: Dennis Bastian, M. Sc., Dr.-Ing. Sven-Uwe Schulz, Deutsche Rohstoffagentur (DERA) in der Bundesanstalt für Geowissenschaften und Rohstoffe (BGR), Berlin/Germany
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No Energy Transition without Financing Raw Material Projects
Life cycle of a mineral resource deposit. Source: DGWA
he sustainable supply of critical raw materials is at the heart of geopolitical and economic power shifts today. Critical raw materials are not only the key to the energy transition – they are also increasingly seen as a strategic investment. While initiatives from the White House serve as free advertising for the strategic importance of raw materials, they also clearly show that politics has long been driven by raw materials, as the world’s leading industrial nations seek to break their dependence on Chinese raw materials. Capital markets and economic cycles are undergoing structural change, while governments worldwide are designating the secure supply of lithium, copper, antimony and other materials a strategic priority. However, Europe faces a structural challenge …
Author: Stefan Müller, CEO, DGWA GmbH, Frankfurt/M./Germany
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Rethinking Mining Finance – Capital Structures for Germany and Europe
Mining project financing model for German mines. Source: Seeger, M. (2024): Mining Capital, Methods, Best- Practices and Case Studies for Financing Mining Project. Springer.
urope’s energy transition and industrial sovereignty increasingly depend on secure access to critical raw materials. Yet, mining projects within the European Union and especially in Germany face not geological shortages, but a shortage of structured, risk-adjusted capital. This paper explores how mining finance models must evolve to meet European standards of technical quality, ESG integration and industrial policy alignment. It proposes a new capital blueprint for mining projects at pre-feasibility and feasibility stages, particularly in Germany, where public and private capital must be blended intelligently to unlock high-potential resources. Using the development path of a German metals mining project as a case study …
Authors: Dr. Michael Seeger, Bergingenieur, Gründer und Geschäftsführer, MX Mining Capital Partners GmbH, München/Germany
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For a Greener Future: The EBRD’s Role in Supporting the Mining Sector
In 2024, the EBRD provided a 50 M US$ (46 M €) loan to Esan Eczacibasi in Türkiye to finance the company’s resource and energy efficiency investments at the Balya polymetallic mine. Photo: EBRD
s the world transitions toward a low-carbon economy, the demand for critical minerals has surged, reshaping the mining industry’s role in global supply chains. The European Bank for Reconstruction and Development (EBRD), London/UK, has positioned itself as a key player in financing mining projects that prioritize sustainability, resource efficiency and environmental, social and governance (ESG) standards. The EBRD’s Mining Sector Strategy for 2024 to 2028 emphasizes sustainable and responsible mining, supporting the green energy transition and digital economy. To address the financing gap for early-stage mining companies, the EBRD also introduced the Junior Mining Programme (JUMP), which focuses on critical and strategic raw materials …
Author: Tetiana Dzhumurat M. Sc., Associate Director, Senior Banker, Natural Resources, European Bank for Reconstruction and Development (EBRD), London/UK
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The German Federal Government’s Raw Materials Fund
Origin of critical raw materials according to the EU list 2023. Source: https://single-market-economy.ec.europa.eu
nsuring a sustainable supply of raw materials is one of the key foundations for the German economy, the digital transformation and the achievement of climate targets. The German government has therefore set up a raw materials fund in 2024 to strengthen the supply of raw materials to German companies and the resilience of supply chains and the economy as a whole. The Kreditanstalt für Wiederaufbau (KfW) in Frankfurt am Main/Germany serves as the central point of contact for the raw materials fund …
Author: Dipl.-Ing. Andreas-Peter Sitte, Chefredakteur Mining Report Glückauf, Moers/Germany
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Essential Services, Public Services and Mining
Strategic projects of the EU. Source: EU, März 2025
he term “Daseinsvorsorge” (essential services) refers to basic public services provided by the state, such as water and energy supply, wastewater disposal, healthcare, social facilities or local public transport. It is a rather formal, administrative and legal term that has rarely been used in everyday language. Many people do not realise its actual meaning, it is simply too abstract. The topic of services of general interest is increasingly appearing in political or professional contexts. Compared to other countries, Germany emphasises local autonomy and diversity, which offers advantages in terms of adapting to regional needs, but also leads to inconsistencies. In principle, however, Germany has nothing to hide …
Authors: Peter v. Hartlieb, Düsseldorf/Germany
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