North Macedonia awaits Ilovica copper project amid global critical mineral race

Western nations are increasingly utilizing public funds to stimulate the development of critical mineral mining projects to reduce strategic dependence on China for technology, energy, and defense sectors. A report from the Critical Minerals Strategy Center warns that insufficient funding remains a primary obstacle to the realization of new projects in Western countries, urging governments to increase financial support for extraction and processing.

In North Macedonia, the Ilovica copper project remains stalled despite the availability of private capital. The deposit is projected to exploit 10 million tons of ore annually, with an estimated production of over 10,000 tons of copper per year over a 23-year period. Experts suggest that failing to mobilize this capital could result in North Macedonia missing opportunities to integrate into new European and global supply chains.