The action, which is published in the Federal Register on April 23, 2026, permits certain steel and aluminium producers with operations in Mexico or Canada to submit documentation so as to obtain tariff relief under Presidential Proclamation 10984. The adjustment is for firms that supply, directly or indirectly, to US automobile or medium- and heavy-duty vehicle producers and engage in new US production capacity.

The US tariff adjustment process enables the US Department of Commerce to cut tariffs on steel and aluminium by half of the applicable rate. But it cannot be less than 25% after adjustment. Note that the benefit applies only to imports which qualify for special consideration under the USMCA and that were either melted and poured or smelted and cast in Mexico or in Canada.

Apparently, the measure may bring relief to Mexican steel and aluminium suppliers integrated into North American automotive supply chains, especially those providing manufacturers of automobiles, auto parts, medium- and heavy-duty vehicles, and associated components. Access to the lower tariff, however, is conditional. Producers will need to show that their commitments will increase US primary steel or aluminium production capacity and promote key vehicle-related industries.

The policy comes as Mexico’s auto industry continues to attract substantial investment in spite of tariff ambiguity and the move toward advanced manufacturing. MBN says the sector has attracted US$21 billion of investment as companies transition to technology-driven projects, underscoring the role of Mexico as a major production and supplier base for North America’s vehicle industry.

That investment context is important since the new US tariff regime does not just reward regional integration. It ties tariff relief to the ability of the company to prove North American origin and compliance with the USMCA as well as future capacity commitments within the United States. This means Mexican suppliers may increasingly need to stay highly competitive in the US market by keeping business operations in Mexico and coordinating part of their investment strategy with US industrial policy.

Eligible companies may file project-by-project documentation describing proposed investment plans, production sites, expected capacity, objectives, suppliers, contractors, raw materials and expected hiring with regard to the new US capacity, the Commerce Department said. Applications must also detail the qualifying status of the company, including its production of steel or aluminium in Mexico or Canada and the U.S. auto manufacturers it supplies to.

The notice follows Proclamation 10984 issued in October 2025 that enforced additional tariffs on imports of medium- and heavy-duty vehicles, parts and buses under Section 232 of the Trade Expansion Act of 1962. The proclamation mentioned national security concerns and provided the commerce secretary authority to change tariffs on certain steel and aluminium imports coming from Mexico and Canada if producers make additional commitments to increase US production capacity.

In February 2026, the Federal Register went on to publish procedures for importers of medium- and heavy-duty vehicles that qualify for USMCA preferential treatment in order to determine US content. This framework enables qualifying vehicles from Mexico and Canada to apply extra tariffs only to their non-U.S. content, thereby strengthening the importance of USMCA compliance when it comes to tariff treatment.

For Mexico, the policy comes as an opportunity as well as a limitation. Eligible producers may decrease tariff exposure when they meet US requirements and conform with USMCA rules of origin on the one hand. However, the benefit is conditional on commitments to increase production capacity in the United States, which means Mexican as well as Canadian suppliers will need to ensure that their future investment plans are aligned with the US industrial policy priorities.

This comes as Washington continues tightening its Section 232 tariff regime on metals. In April 2026, the White House extended actions impacting imports of aluminium, steel and copper, saying Section 232 duties on aluminium and steel articles and derivatives would typically apply to the entire customs value of imported products.

The tariff-adjustment mechanism might assist in relieving cost pressures in regional supply chains for makers of autos as well as heavy trucks, especially the ones that purchase steel and aluminium inputs from Mexico and Canada. Companies will have to file extensive documentation, reach milestones established by the Commerce Department and demonstrate that the qualifying imports are connected to the new US production capacity.

Cutting Overburden at the Source through Precision Technology

The largest component of the physical footprint in mining is overburden, the rock that must be removed to access an orebody. Conventional open-pit mining often operates with high strip ratios, frequently exceeding 4–6 tonnes of waste for every single tonne of ore. This inefficiency is driven by a reliance on coarse geological models, excessively wide safety buffers, and indiscriminate bulk blasting. To modernize this process, the industry must transition toward high-precision systems that minimise the initial environmental impact.

• High-Resolution Modelling: The adoption of advanced orebody modelling allows for a more granular understanding of mineral deposits, enabling companies to tighten pit boundaries.
• Selective Extraction and Pre-Concentration: By focusing on specific mineral zones and processing material closer to the source, operators have demonstrated the ability to reduce overburden movement by 30–60 percent in hard-rock operations.
• Sensor-Based Characterisation: Utilising real-time sensors to identify ore quality helps in reducing dilution and excluding marginal zones that would otherwise contribute to waste.
• Denser Drilling Grids: Implementing more frequent and precise drilling ensures that only the most viable material is excavated, adhering to the principle that the most effective waste reduction is not excavating waste in the first place.

Furthermore, establishing strict mine-closure discipline is a non-negotiable aspect of Solving Mining’s Trillion-Tonne Environmental Reckoning. Generated overburden should be progressively backfilled, followed by comprehensive rehabilitation involving topsoil restoration and reforestation. While these obligations often exist within legal frameworks, rigorous enforcement is necessary to eliminate abandoned mining scars within a single generation.

Transforming Tailings into Strategic Construction Resources

Tailings, the residual materials left after ore processing, are frequently misclassified as inert waste. In reality, these streams often contain high-purity silica, aluminosilicates, and residual unrecovered metals. At the same time, the construction industry faces sustainability challenges, such as the destructive mining of river sand, which damages riverbeds and groundwater systems. This contradiction presents an opportunity for industrial synergy.

• Manufactured Sand (M-Sand): When tailings meet specific standards for particle size, chemistry, and leachability, they can be processed into manufactured sand and aggregates, providing a direct substitute for river-mined sand.
• Low-Carbon Building Materials: Tailings can be blended with industrial by-products like fly ash or slag to create geopolymer bricks and other sustainable construction materials.
• Regulatory Integration: While technologies for crushing, grading, and stabilisation are proven, a formal regulatory linkage between mining waste and construction demand is required. Extending manufactured-sand frameworks to certified tailings-derived materials would simultaneously reduce river-sand extraction and legacy tailings liabilities.

Unlocking Secondary Value from Industrial Slag

Downstream mineral processing generates slags that remain remarkably rich in secondary metals. Copper smelting slag, for example, typically contains 30–45 percent iron trapped in complex mineral phases, alongside residual copper and other trace elements. Despite this richness, recovery efforts remain limited because prevailing economics often discourage investment in energy-intensive reprocessing while fresh iron ore remains available. This represents a market failure where environmental externalities are not appropriately priced.

To address this, policy tools modelled after existing Refuse-Derived Fuel mandates could be implemented. These might include:

• Financial Incentives: Providing price premiums for steel produced using iron recovered from slag.
• Recycled Content Mandates: Establishing phased requirements for minimum shares of slag-derived or recycled inputs in primary steelmaking.
• Partial Substitution Strategy: Even the partial replacement of primary ore with slag-derived materials creates viable demand for waste while reducing the pressure on primary extraction sites.

The Convergence of Urban Mining and Primary Extraction

A significant opportunity for Solving Mining’s Trillion-Tonne Environmental Reckoning lies at the intersection of “urban mining” and conventional extraction. India’s battery-recycling and critical-minerals-processing sectors have already developed advanced hydrometallurgical systems capable of recovering over 95 percent of lithium, cobalt, and nickel from end-of-life batteries and electronics.

Although mining tailings differ in scale and grade from electronic waste, the core processing principles, selective leaching, impurity control, and solvent extraction, are entirely transferable. Industrial symbiosis offers a mutual benefit: recycling operators gain access to large, long-duration feedstock streams, while mining companies can recover hidden value, stabilise tailings dams, and reduce long-term environmental liabilities. The existing Rs 1,500-crore incentive scheme under the Battery Waste Management Rules provides a strategic window to pilot these large-scale collaborations.

A Phased Roadmap for a Sustainable Mineral Future

The challenge of Solving Mining’s Trillion-Tonne Environmental Reckoning will not be resolved through a single intervention but requires mining, processing, and recycling to evolve in parallel over a realistic timeline.

1. Immediate Horizon (0–3 Years): The focus must be on deploying precision-mining tools to cut overburden movement by 30–60 percent in new operations. Rigorous enforcement of mine-closure obligations and the introduction of targeted incentives for slag recovery are priority actions.
2. Medium-Term Horizon (3–7 Years): The industry should scale the valorisation of certified tailings for construction materials to replace river-sand extraction. Simultaneously, recycling capacity must expand to include the pilot reprocessing of legacy tailings.
3. Long-Term Horizon (7–15 Years): For highly recyclable minerals like lithium, cobalt, and nickel, circular systems should meet a major share of incremental demand. Bulk materials like copper and iron will see slag recovery and recycling structurally embedded into the economy, allowing primary extraction to concentrate solely on high-grade strategic deposits.

Conclusion

The pragmatic middle is neither an idealistic rejection of mining nor an acceptance of unchecked environmental damage. It is a pragmatic recognition that developmental imperatives and environmental responsibilities are equally binding. By systematically shrinking the environmental footprint through every battery recycled, every tonne of tailings valorised, and every unit of steel derived from slag, the industry can navigate toward a sustainable future. The tools to reconcile these forces exist; the requirement now is the collective will to deploy them at scale.

As a featured exhibition area of Metal China, the “Zone for Wear-Resistant Castings in Mining, Metallurgical Heavy Machinery and Construction Machinery” is committed to establishing a professional and comprehensive platform, and has been successfully organized for five consecutive editions. It brings together dozens of well-known domestic and international enterprises specializing in wear-resistant castings and material manufacturing, covering critical components used in mining, metallurgical, and construction machinery, including wear-resistant parts widely applied in industries such as mining, cement, power generation, and metallurgy, thereby providing a comprehensive overview of the current development status of the wear-resistant casting industry. The carefully curated exhibition space enables exhibitors to effectively engage with key procurement decision-makers and professional buyers in the related sectors. In addition, the Zone hosts multiple technical seminars and new product launches, offering an integrated platform for exhibition, trade and technical exchange. It has garnered significant attention and high recognition from professional visitors both domestically and internationally. We invite you to join the Wear-resistant Zone at Metal China 2026 to gain insights into industry trends, accurately capture market dynamics, and collaboratively shape the industry.

The zone is located in the Casting Hall 4.1H.

For inquiries about the exhibition or booth reservation, matchmaking, please contact: Ms. Maggie Li,  limengmeng@foundry.com.cn

Urged to act rapidly so as to rescue European steel from decline, the EU executive went ahead and proposed hiking levies on steel imports to 50% and also decreasing the volume allowed in before tariffs apply by 47%.

According to Stéphane Séjourné, the EU industry chief who unveiled the plans alongside Maros Sefcovic, the trade commissioner, in 2024 said that the 18,000 direct jobs were cut in the steel industry, which is far too many, and it had to stop.

EU to double tariff on foreign steel is a part of the EU strategy that goes on to mirror the plan that’s embraced by Trump, who went ahead and imposed 50% tariffs in order to keep out the cheap metals from China, which happens to be the producer of over half of the world’s steel.  Canada too has taken similar steps.

According to Sefcovic, the EU was indeed taking necessary, effective, and at the same time balanced action so as to protect jobs and the economy, whereas Eurofer, the industry group, went on to hail, as per him, a real lifeline for the sector.

Apparently, the British steelmakers, however, went on to voice their alarm at the impact of the move since almost 80% of their exports go to Europe, with Chris McDonald, the country’s Industry Minister, saying that he would look out for urgent clarification from Brussels in this regard.

Sefcovic went ahead and told a news conference at the European Parliament located in France’s Strasbourg that the EU was not closing its market to imports when it comes to its partners, adding that the commission is going to engage bilaterally with their UK partners.

It is well to be noted that as per the proposal, import quotas are going to be reduced to 18.3 million tons per year, as per Brussels, which, by the way, happens to be the total volume of steel that the EU had imported in 2013.

That year got chosen due to the fact that the EU considers that the market became unbalanced right from that point on due to excess production, mostly due to China, which happens to massively subsidize the local steelmakers.

Sefcovic opines that the global overcapacity crisis happens to be reaching critical levels, further adding that the steel capacity would go on to reach five times the yearly EU demand by 2027.

Importers, when it comes to processed steel, must also go on to offer evidence of which country the metal had been melted and poured in so as to avoid the levy circumvention as per the new measures.

What is the major step forward?

Subject to the approval by the member states of the EU as well as the parliament, the proposal would go on to permanently replace the present safeguard scheme, which happens to impose 25% duties beyond the existing set of import quotas butends the next year.

According to Ursula von der Leyen, the EU chief, they indeed need to act now, and she urges the states as well as the parliament to move ahead at a brisk pace.

In addition to this, Eurofer likewise went ahead and urged for a fast-track adoption, thereby calling the proposal a major step forward so as to save EU steel as well as, with it, hundreds of thousands of jobs.

It is worth noting that after the US-EU tariff deal was finalized in July 2025, Sefcovic remarked that the European as well as American steel and, of course, the aluminum sectors went ahead and suffered from the same challenge.

The fact is that now the EU trade chief is very much hoping to team up along with Washington so as to tackle the overcapacity of the Chinese and has, as a matter of fact, been in talks with his US counterparts in order to agree on quotas pertaining to steel imports.

Sefcovic added that they will, of course, inform their American partners with regard to these measures and that he hopes that this is surely going to help them to go ahead and start the discussion pertaining to ringfencing.

Apparently, with EU to double tariff on foreign steel, the EU is indeed looking forward to having a broader metals alliance along with the United States so as to ringfence their respective economies from the Chinese overcapacity.

Interestingly, as the EU pushes ahead with decarbonizing industry, steel is surely going to be critical for renewable energy equipment, right from solar panels to wind turbines, and for electric cars as well.

There are millions of jobs that are at risk

It is well to be noted that the steel sector happens to employ almost 300,000 people throughout Europe, and the fact remains that around 100,000 jobs have been lost over the last decade and a half. Apparently, the present crisis happens to put direct steel jobs at risk and also, along with it, 2.3 million indirect jobs, as per Eurofer.

The point is that the data here goes on to paint a very stark picture of a European sector that has been dwarfed because of the steel giants of the world.

It is worth noting that in 2024, China went on to produce over one billion tonnes of steel, which apparently was far ahead of India, which was responsible for manufacturing 149 million tonnes in the entire year.

Notably, the United States came in fourth, by way of producing almost 79 million tonnes, as per the World Steel figures.

In contrast, Germany went on to produce almost 37 million tonnes in 2024, whereas French production was less than 11 million tonnes.

The commission has said that the EU steel industry happened to be the only major region that has gone on to lose almost 65 million tons of capacity ever since 2007.

It is well to be noted that the commission has set out plans to go ahead and cut the amount of steel that can get imported into the bloc by 50% – beyond which new 50% tariffs are going to apply.

The fact is that the EU happens to be the most important export destination for steel for the UK, worth almost £3bn, and happens to represent 78% of steel products that are made in the UK for the overseas markets.

Apparently, the commission has come under immense pressure from some of the member states as well as their steel industries, which have apparently been struggling to compete with cheap imports coming from countries such as China and Turkey.

The EU has already started proposing to reduce tariff-free quotas when it comes to imports to 18.3 million tonnes per year, which is a 47% reduction from the 2024 levels.

The new measures, apparently, are going to come into force in early 2026; however, these are going to be the first that need to be approved by the majority of the EU member states as well as the European Parliament.

According to the European Commission’s executive vice president for prosperity and industrial strategy, Stéphane Séjourné, they happen to have global overcapacity, state aid, and unfair competition, as well as undercutting in prices, and the fact is that they are reacting to it.

He told a European Parliament news conference at Strasbourg that eighteen thousand jobs were lost in the steel sector in 2024, which is far too many, and they had to put a stop to that.

Apparently, the announcement happens to be another blow to the UK steel industry, after a proposed deal so as to eliminate tariffs on UK steel exports to the US went on to be put on hold indefinitely in September 2025.

The point is that there are many firms that are already in dire financial crisis.

Interestingly, the government took control of the Chinese-owned plants based at Scunthorpe earlier in 2025, while the Liberty Steel plants based in Rotherham and Stocksbridge collapsed into government control in September 2025.

Speaking on his way to India on October 7, 2025, the prime minister said there is going to be strong support coming from the government for the British steel industry, which, by the way, could be massively affected due to steel tariff hike by the EU.

Sir Keir Starmer said that he will be able to talk more about it only in due course; however, they are in discussions, as one would expect. He refused to get into the details of any discussion, which included if the UK was looking out for exemptions from the rules.

Giving a response to the announcement, Gareth Stace, the director general of UK Steel, said that the government should go all out to make utmost use of their trading relationship with the EU so as to secure UK country quotas or else potentially face the disaster.

The move by the European Union happens to be partly a response to US President Donald Trump, who had sharply raised the tariffs on foreign steel earlier in 2025, citing concern pertaining to China, and has also pushed other countries to go ahead and take similar steps.

It is well to be noted that Canada, Mexico, and Brazil have also moved to go ahead and increase protections for the domestic steelmakers, therefore in a way responding to concerns pertaining to those firms’ losing business in the US while at the same time also facing increased competition at home from the shipments getting shifted from America.

Mr. Stace also went on to caution against the measures from the EU, which are redirecting millions of tons of steel towards the UK, something that could very well be the end for many of their remaining steel companies.

Notably, the Community Union, which represented the UK steelworkers, has called the measures an existential threat to the industry.

Asked about the UK concerns, Maros Sefcovic, the European trade commissioner, said at a press conference that he anticipates going ahead and completely engaging with the UK on this issue, therefore suggesting that a specific UK quota might as well be negotiated in the time to come.

The Department for Business, in a statement, said that it was pushing the European Commission for an immediate clarification of the effect of this move on the UK.

As per Chris McDonald, the industry minister, it is, as a matter of fact, pretty vital that they protect trade flows between the UK as well as the EU, and they are going to work along with their closest allies in order to address the international challenges and not add to their industries’ woes.

This government has already shown its bent towards their steel industry through securing preferential access when it comes to the US market for their exporters, and they shall continue to explore trade measures that are way stronger so as to protect the UK steel producers from the unfair behaviors.

The government has said that the industry minister is good with the steel representatives so as to discuss the challenges that they are facing.

The vice-chair of the European Parliament’s committee on global trade, Kathleen Van Brempt, remarked that she will advocate for the UK in the days to come, adding that the UK for them is a very close ally indeed.

A major blow

The UK managing director at Marcegaglia in Sheffield, Liam Bates,happens to make stainless steel products and also exports to the EU. He opines that the announcement was indeed a big blow.

He added that it must be indeed amongst the biggest challenges that they have faced for a very long time, and the fact of the matter now is on the detail. Is there going to be any deal done by the UK government in order to soften the blow?

He further said that they have no tariffs on Europe themselves, so one would indeed anticipate some reciprocity on that front so that they are not treated in a similar way. That is the sort of detail they are hoping the government is going to be working towards.

In the meanwhile, he said the future trade with EU customers happens to be a concern.

They have good relationships with their customers, and they shall be communicating with them, however all of it puts a strain on their business immediately.

Their customers are in there for the long term, and so there is indeed going to be questions on whether there are long-term relationships which can still be had in the face of such kind of quotas.

The Role of High-Grade Iron Ore in Steel Production

The demand for high-grade iron ore has surged during the past several years, as the high iron and low impurity percentages of high-grade iron ore yield benefits to the steel production process. The value is in that it provides cleaner and more efficient steelmaking—specifically in electric arc furnaces (EAFs) and in direct reduction iron (DRI) technologies, both of which are greener than traditional blast furnace processes.

High-grade ore eliminates burdens associated with extensive beneficiation and sintering, two processes that are energy intensive and produce greenhouse- gas emissions. Clean raw material allows manufacturers to mitigate carbon emissions, to become more energy efficient, and to meet increasing environmental regulations. The industry’s progress toward decarbonization enhances the significance of high-grade ore and high-grade iron ore will become a critical component of green steelmaking.

Technological Challenges in Utilizing High-Grade Iron Ore

Due to the lack of high-quality raw materials and the growing demand for cleaner steel, the premium price of high-grade ore has been steadily increasing. The main constraint is there is a paucity of deposits of high-quality ore. Even though countries like Australia, Brazil, and regions of Africa have good ore reserves, the deposits have geographic concentration and are also limited by access due to geopolitical or regional limitations or environmental regulations.

Additionally, modern steel mills are typically optimized for low-grade ore and are likely to require extensive redesign in order to use this form of high-grade material. For example, blast furnaces are generally constructed with a combination of quality ores, and so switching to a supply of only high-grade ores would require costly subsequent upgrades, or in some cases, new construction. Furthermore, advanced reduction technologies such as hydrogen-based direct reduction rely on certain properties of ore, which might not be available or economical. 

Another technological issue is variability in ore quality. Even within high-grade deposits, variations in ore composition and impurities will invariably affect product quality and process stability. To provide consistent feedstock quality, there has to be advanced beneficiation and blending methodology involved, which complicates and increases the cost.

Economic and Market Factors

High-grade iron ore’s economic feasibility as a decarbonization facilitator depends on a number of interrelated criteria. Due to the lack of high-quality raw materials and the growing demand for cleaner steel, the premium price of high-grade ore has been steadily increasing. However, geopolitical tensions, environmental laws, and global iron ore supply-demand balances all influence the premium, which is market-sensitive.

Installing new facilities or modifying existing processes to handle high-grade ore requires significant capital investments. Therefore, long-term energy cost savings, carbon taxes, and compliance with emissions regulations must all support the switch to high-grade ore. Although there are producers who are ready to make an outlay, the economics is still tough in jurisdictions with volatile regulations or volatile steel pricing.

Competitive risks are also brought about by the introduction of novel steelmaking techniques and new raw materials. For example, the use of hydrogen direct reduction processes based on iron ore pellets, which are typically derived from high-grade ore, would need to be economically viable in light of changing hydrogen costs and technological developments.

Environmental and Sustainability Considerations

The usage of high-grade iron ore will play a significant role in steel decarbonization from an environmental standpoint. The purity of high-grade iron ore avoids carbon-rich beneficiation and sintering, leading to lower emissions. High-grade ore also allows for switching over to electric arc furnace operations, where renewable power can be used and many fewer greenhouse gases are emitted.

Yet environmental advantages rely upon sound mining methods. Mining high-grade ore at a scale of production will have a meaningful land disturbance, water consumption and energy consumption resources. With more stringent environmental controls, mining companies are under increased pressure to consider environmentally conscientious extraction and processing methods, which can lead to increased costs and restrict supply side growth.

The lifetime impacts of high-grade mineral mining, processing, and transportation must also be considered in decarbonisation. Ecological stewardship and economic viability must be balanced in sustainable supply chains, a challenge that calls for creative solutions and large financial outlays.

Future Market Outlook

Although there may be challenges along the way, the market for high-grade iron ore will continue to expand. Given the global shift to decarbonized steelmaking and the promotion of electric arc furnace technology, market data indicates that demand will only increase.

Yet, supply limitations, environmental regulations, and geopolitical uncertainties may restrict the supply of high-grade deposits. Building new mining projects combined with the advances in beneficiation and processing will be the key to solving such supply-demand imbalances.

High-grade iron ore is expected to command a higher price on the market than lower-grade material, although the growth rate might be slowed if new technologies make it easier to use lower-grade ore or other alternatives efficiently. To fully utilize the potential of high-grade ore, research and development investments will be required to support more ecologically friendly mining practices and build new mining infrastructure.

Strategic Implications for Stakeholders

Miners must strike a balance between extracting high-grade ore and social and environmental considerations. Because of their efficient operations and transparent supply networks, miners will be unique in a world that is increasingly focused on ESG. In the end, steel producers need to think about how high-grade ore strategies will support their decarbonization objectives in the long run. Just like hydrogen reduction and green energy in steel production may be a game-changer in reducing decarbonization gaps when coupled with the availability of high-grade iron ore.

Conclusion

The challenge of decarbonizing steel is an uphill battle with just as many complexities as advantages, with high-grade iron ore sitting at the center of the controversy. If it offers a potential pathway towards greener, more efficient manufacture, the obstacles each level of value-chain must overcome to land the high-grade ore contracts are economic, environmental, and technological each with the potential to inhibit its global implementation. The only way to navigate the barriers will be through collaborative cross-value chain action – innovating mining techniques, investing in new technologies, and shaping regulation ahead of its sustainability.

As the industry moves toward 2030, the future of high-grade ore use will be one of the primary indicators of the industry’s ability to reconcile its environmental responsibilities and operational imperatives. The future decarbonisation of steel will rely on balancing these multi-faceted considerations in the face of increasing environmental and resource pressures if the industry is to remain a strong and viable industry.

L&T has been associated with Hindalco for over three decades, playing a key role as an EPC contractor in their expansion programmes across alumina, aluminum and copper plants. The new order signifies Hindalco’s trust in L&T as a dependable partner to drive their ambitious growth plans.  

M&M earlier secured an order for setting up an 8 MTPA (million tonne per annum) Pellet Plant from a leading steel producer in India. The scope of work includes engineering, manufacturing, supply, construction & installation in collaboration with reputed technology providers. 

“M&M has successfully commissioned several steel plants and alumina refinery projects, both greenfield and brownfield, across India and the Middle East. These new orders reaffirm L&T’s leadership in EPC steel plants and alumina refinery projects and are a testament to its commitment to excellence and customer satisfaction,” said Mr D K Sen, Executive Committee Member & Advisor to the CMD, L&T. 

L&T’s M&M vertical offers world-class end-to-end solutions in the EPC domain across sectors such as mining, minerals processing, industrial products and material handling. Its product business provides cost-effective end-to-end solutions for industries such as mining, cement, steel, fertilisers and ports. 

Zelenskiy outlined this idea in his “victory plan” strategy, which was introduced last autumn to Ukraine’s allies, including Trump. This plan focuses heavily on forging partnerships with foreign nations to gain joint access to Ukraine’s valuable mineral resources.

This step reflects a strong commitment to bolstering domestic aluminum manufacturing capacity, reducing reliance on imports and fortifying critical supply chains integral to national security and economic growth, said Zelenskiy. Trump, in his statement, referred to opportunities involving “their rare earths and other things”, though the exact scope of minerals under discussion remains unclear.

Rare earths, comprising 17 metals crucial for electric vehicles, cell phones, missile systems, wind turbines, and other electronics, are indispensable in global industry. There are no viable substitutes.

China, which dominates global production of rare earths, has been a focal point of U.S. trade policy under Trump. Ukraine, however, has enormous potential as a critical minerals provider, possessing deposits of 22 of the 34 minerals identified as essential by the European Union.

Mineral Wealth Under Ukraine’s Control

Known as the breadbasket of Europe, Ukraine is also rich in mineral resources, many of which are vital to defense, high-tech industries, aerospace, and green energy. The Institute of Geology reports that Ukraine has rare earth elements such as:

Lanthanum and cerium: Used in TVs and lighting.

Neodymium: Used in wind turbines and EV batteries.

Erbium and yttrium: Applications include nuclear power and lasers.

Additionally, EU-funded research indicates that Ukraine has significant scandium reserves, though detailed data remains classified.

Zelenskiy also highlighted the importance of Ukraine’s titanium and uranium reserves, which are among Europe’s largest.

Ukraine possesses significant reserves of rare earth elements, as well as other materials critical for industries ranging from energy to defense, said Zelenskiy.

Resources Under Russian Occupation

The ongoing conflict with Russia has drastically affected Ukraine’s ability to fully utilize its mineral wealth.

Most of Ukraine’s coal reserves, crucial for its steel sector, are situated in the east and now under Russian control. Furthermore, two lithium deposits have also fallen into Russian hands—one in Donetsk and another in the Zaporizhzhia region.

Despite these losses, Ukraine still controls significant resources, including lithium deposits in the central Kyrovohrad region and vast reserves of graphite, a key component in electric vehicle batteries. These reserves represent 20% of global resources and are primarily located in central and western Ukraine.

Opportunities and Challenges for Mining

Ukraine’s government is actively working on deals with Western allies, including the United States, Britain, France, and Italy, to develop its critical materials sector. Oleksiy Sobolev, Ukraine’s first deputy economy minister, estimates the total investment potential of the sector to be between $12-15 billion by 2033.

The government, through the State Geological Service, is preparing 100 sites for joint licensing and development, though further details are yet to be disclosed.

Despite the opportunities, several barriers to investment remain, including inefficient regulatory processes, limited access to geological data, and challenges in acquiring land plots. Mining analysts caution that these projects will require years of development and substantial up-front investment.

Conclusion

Ukraine’s vast resources make it a critical player in the global rare earth and critical mineral market. Despite challenges posed by the ongoing conflict with Russia, the potential for collaboration with Western partners, particularly the United States, offers significant opportunities for innovation in defense, green energy, and high-tech industries.

If realized, these partnerships could pave the way for Ukraine to become a leading supplier of critical materials, reducing Western dependency on China while bolstering Ukraine’s economy and infrastructure.

According to the agreement, Beyond Minerals will pay an aggregate cash consideration of $125,000 to Lithos Minerals and issue a total of 2,500,000 Beyond Minerals common shares.

Beyond Minerals will also assume a 1.5% net smelter return royalty on the claims. Beyond Minerals president and CEO Craig Gibson said: “The Peggy Group Lithium property is an exciting addition to our growing portfolio of lithium properties and other mineral assets.

“The Property is hosted within metasediments in contact with muscovite bearing granitic rocks, a peraluminous S type fertile parental granite. Metasediments make excellent hosts for lithium-bearing pegmatites and we are keen to commence exploration work on the Property.”

Covering an area of around 7,386ha, the Peggy Group property is located about 80km north of Sioux Lookout, in the province of Ontario.

The lithium property is located 8km south of the McCombe-Root Lithium project, owned by Green Technology Metals.

Furthermore, Beyond Minerals is planning a non-brokered private placement of up to 3,750,000 of its common shares, each at a price of $0.20, to raise up to $750,000.

The firm plans to use the proceeds from the private placement to fund exploration work at some of its properties as well as for general corporate and working capital purposes.

In a press statement, Beyond Minerals said: “The Company may pay finders’ fees in connection with the Offering in cash, shares, warrants or a combination thereof. All securities to be issued under the Offering will be subject to a hold period of four months and one day from their date of issuance.”

The aim is to cope up with the surging demand for green steel. Reduced iron is produced by removing oxygen from the iron ore. This makes metallic iron without melting it.

Currently, natural gas is used to produce reduced iron. However, global steelmakers are considering the use of hydrogen for reduced iron manufacturing to make the steelmaking process CO2-free.

Nippon Steel President Eiji Hashimoto was quoted by Reuters as saying in a news conference: “We will be involved in raw materials as our own business, instead of simply procuring raw materials (such as iron ore and coking coal).

“To advance decarbonisation, we will need reduced iron. Our company will make it as our new business.”

The Japanese firm would also consider investing in projects to produce hydrogen-reduced iron with potential partners, Hashimoto added.

Hashimoto noted that Nippon Steel would mull joining an iron ore project, which has its own hydrogen plant capable of producing hydrogen from green electricity.

He further noted that coking coal would ensure continuity of steelmaking alongside efforts to decarbonise the process.

“High-quality coking coal is necessary to proceed smoothly with decarbonisation. We want to ensure stable procurement of coking coal by increasing our interests (in mines),” Hashimoto added.

Nippon Steel holds stakes in multiple iron ore mines and coking mines.

Earlier this year, ArcelorMittal Nippon Steel India, a joint venture between ArcelorMittal and Nippon Steel, commenced the Rs600bn ($7.2bn) expansion of Hazira flat steel plant in the Indian state of Gujarat.

This will boost the plant’s crude steel capacity from nine million tonnes per annum (Mtpa) to 15Mtpa.