TELF AG sheds light on a recent development in the European mining industry

The gradual resumption of activities

Recently, a very important step has been taken for the future of the European mining industry. In Italy, the Council of Ministers approved the decree law that will speed up the reopening of mining sites and the start of new explorations, also introducing the need to develop a national plan for critical raw materials and a general simplification of procedures.

It was a long-awaited development, especially considering the need for the European Union to gain ground in the mining sector and reduce its dependence on third-party suppliers. It is a concrete sign that something in the European mining universe is starting to move.

To concretely implement one of the key points of the decree law, namely the mapping of existing minerals in the peninsula and the planning of exploration projects, the authorities have already made available an allocation of 3.5 million euros, which will also be used for geochemical surveys that will carefully study the rocks in search of new mineral reserves.

But what is the starting situation of Italy, in light of this important development in the direction of an imminent resumption of mining activity on its soil? At the moment, the most interesting projects (and already fully operational) are those linked to the sites of Gorno, in the province of Bergamo, where mining professionals are trying to resume the extraction of galena and blende, and that of Silius, in Sardinia, where the focus of the extractions is represented by fluorite and a possible presence of rare earths.

Other strategic resources

But mining activities are slowly resuming in other parts of the peninsula: in Piedmont, the Punta Corona project is focusing on a historic mining site containing cobalt, nickel, copper, and silver, also located in an ideal position to represent a valid supplier of raw materials for the rest of the EU, mainly due to the proximity of strategic infrastructures. In the same northern region of Piedmont, graphite is also being sought. At the same time, further east, in the province of Parma, it is hoped that the development of the Corchia mine will ensure a regular supply of gold, copper, and cobalt.

Other resources in various parts of the peninsula, already the subject of the attention of numerous companies, are zinc, lead, and manganese. A separate chapter must be reserved for lithium. In central Italy, the first geothermal wells built to extract this resource were constructed in the early 1900s, and with this new wave of mining initiatives, they could soon bear precious fruit.

The operational management of these resources, according to the guidelines of the new bill, will be entrusted to a special committee that will draw up a national plan for raw materials every three years, also dealing with strategic stocks of the most important materials.

It is no coincidence that the recovery of mining activities in Europe is arousing general interest: by 2050, according to a recent study by Erion, the demand for raw materials will grow at least 2.5 times compared to the levels recorded in 2000, and the average per capita consumption will be around 12.5 tons. According to the same study, the market for critical raw materials reached record figures in 2022, reaching 320 billion dollars globally, with good chances that it can grow further.