Macedonia's Ilovica copper project stalled while US expands critical mineral reserves

The United States is investing $12 billion to build strategic reserves of critical minerals, aiming to strengthen its industrial independence. Meanwhile, Macedonia has confirmed deposits of copper and antimony, with the largest known copper reserve at Ilovica. A planned €350 million investment for the Ilovica mine would be the biggest greenfield project in the country, projected to generate about €180 million in annual export revenue and lift Macedonian exports by roughly 4 %, but the project has not yet begun. Near Kriva Palanka, antimony potential is also being assessed, funded by a €5 million study from the U.S. Department of Energy under a strategic dialogue with Macedonia. The U.S. has recently signed major critical‑mineral supply agreements with the EU, Japan and Canada, and its DOE allocated $15 million for two regional consortium projects in Nevada and Georgia, plus $134 million for initiatives in Minnesota and Louisiana, and $45.7 million for 19 projects to fill domestic supply gaps.