October 27, 2025 – Source: Expansión Newspaper
The La Parrilla tungsten mine, located in Cáceres (Extremadura) and owned by the US fund BlackRock through its subsidiary Iberian Resources, is currently undergoing reactivation. Having been designated a strategic project by the European Commission, its reopening reinforces Europe’s commitment to the domestic production of critical raw materials.
The project, which was suspended in 2022 due to the surge in natural gas prices, has now attracted significant interest from major Japanese corporations such as Mitsubishi, Toyota Tsusho, Marubeni and Kirin. These companies seek to diversify their supply sources amid export restrictions imposed by China, which currently accounts for around 85% of the world’s tungsten production.
A strategic investment to strengthen European mining
The new phase involves an estimated investment of €30 million and follows a common model in the mining sector: industrial partners joining the project will acquire a share of the future production while contributing to the capital required to finance the reopening of the mine.
This initiative is part of the European Union’s strategy to promote the development, extraction and processing of critical raw materials. In March 2025, Brussels selected 47 strategic projects across 13 European countries, seven of them in Spain, including La Parrilla. The EU’s goal is that by 2030, Europe will produce at least 10% and process 40% of the critical raw materials it consumes.
Tungsten prices soar, increasing its global appeal
The current economic climate is also driving this revival. In 2025, the price of tungsten has doubled, exceeding $600 per tonne, fuelled by growing demand in sectors such as defence, automotive, energy and industrial drilling. This surge highlights the mineral’s strong appeal and the project’s economic viability.
In addition to La Parrilla, Spain hosts several other projects classified as strategic by the European Commission, including Aguablanca (nickel and copper) and Las Navas (lithium), positioning the country as a key player in Europe’s new sustainable mining landscape.
A key step towards Europe’s energy independence
The reopening of the tungsten mine represents far more than the revival of an industrial activity: it marks a decisive step towards a modern, technological and responsible mining industry, aligned with the European Union’s goals of sustainability and strategic autonomy.
With the support of international investors and the involvement of major industrial groups, Spain is consolidating its position as a strategic country in the production of essential materials for Europe’s industrial and energy future.
