Critical metals drive mining in the south-west of the Iberian Peninsula (El Periódico de Extremadura)

3 December 2025 – Source elperiodicoextremadura.com

 

Projects in the area of influence of the Iberian Pyrite Belt involve investments worth millions of euros, and the government is focusing on the area as part of its plan to secure more key resources.

The resurgence of mining in search of the most valuable resources needed to cope with the energy transition and digitisation has revitalised the south-west of the country. The sector has also faced opposition because of environmental concerns.

The Iberian Pyrite Belt, which lies in southern Portugal (the Algarve and Alentejo regions) and the northern part of the province of Huelva as far as Seville, is one of the key areas on the map, as it is where a large percentage of copper deposits are concentrated. This area makes Spain the European Union’s second-largest producer of copper.

It is one of the focal points of the plan drawn up by the government, through the Ministry for the Ecological Transition and the Demographic Challenge (Miteco), to obtain the metals required for that transition: critical metals.

The programme, to be implemented jointly with the Geological and Mining Institute of Spain (IGME-CSIC), the autonomous communities and other stakeholders, aims to take advantage of current technology to search both for resources that have already been identified – thanks to existing geoscientific studies – and for new deposits, by means of new geophysical analyses and remote sensing, geochemical campaigns and additional boreholes.

In this Atlantic strip there are several ongoing projects that are spearheading the mining sector in south-west Spain.

Among them is Minas de Aguas Teñidas (MATSA), which currently operates three underground mines. Located in the province of Huelva, the Aguas Teñidas and Magdalena mines are in the municipality of Almonaster la Real, while the Sotiel mine is in the municipality of Calañas. They produce copper, zinc and lead concentrates.

Atalaya Mining operates the historic Riotinto mine, an open-cast mine working at full capacity, processing 15 million tonnes of ore a year to generate more than 55,000 tonnes of copper concentrate annually at its treatment plant.

Cobre Las Cruces, located in Gerena (Seville) and owned by the Canadian multinational First Quantum Minerals – currently seeking a new owner – saw its initial reserves exhausted in 2020. But in March the European Commission designated the new underground mine project on the same site as strategic. The plan is not only to produce copper but also zinc, lead and silver, all from the same polymetallic deposit. The project will involve an investment of more than 850 million euros and is expected to operate for at least 20 years.

Minera Los Frailes, part of Grupo México, has already obtained all the permits needed to operate the Aznalcóllar deposit. The overall investment in this project is around 450 million euros, with a target of 170,000 tonnes of zinc concentrate, 55,000 tonnes of lead concentrate and 13,000 tonnes of copper concentrate annually.

Finally, Finnish company Emerita Resources is developing a project in the Pyrite Belt – between the municipalities of Paymogo and Puebla de Guzmán – known as Iberian Belt West, comprising three polymetallic sites: Infanta, El Cura and Romanera. Previous exploration of these deposits was carried out in the 1970s and 1980s by major companies, including Asturiana, RTZ and Phelps Dodge.

Sunday, 30 November 2025.

Extremadura, cradle of the seven sites that the EU wants to promote in Spain

Lola Lucene

The use of minerals has been linked to Extremadura since the earliest peoples settled in the region. Gold-mining operations and metallurgy in Lusitania were highly dynamic during the Roman era. Over the centuries, the extraction of resources – gold, silver, lead, copper, iron ore, manganese, tungsten and uranium – has created a rich history in this land, which today has become a powerhouse in quarrying and ornamental stone.

On 25 March the region moved to the forefront of the EU’s list of critical reserves for the continent. The European Commission presented the first list of 47 projects under the Strategic Raw Materials Act, i.e. strategic minerals to strengthen European sovereignty at a complex geopolitical moment. The aim is to make Europe less dependent on minerals from China, Russia and other countries, imported from different parts of the planet and indispensable for industrial and technological development.

Of the 47 selected projects, seven are Spanish, and Brussels has included three from Extremadura: lithium extraction at Cañaveral (Cáceres), tungsten in Almoharín (Cáceres) and nickel at Monesterio (Badajoz). In total, investments worth 500,000 million euros are planned for three villages with a combined population of some 7,000 inhabitants.

Aguablanca: 20% of European nickel capacity

According to the Ministry for the Ecological Transition, the Aguablanca mine in Monesterio, which was already in operation between 2003 and 2015, could provide up to 20% of Europe’s nickel production (currently mined only in Finland and Greece). Hence the EU is backing the project by Narcea Resources, which plans to restart operations, creating 330 direct jobs.

Its start-up is part of a wider project promoted by the PhiDTech group, Lithium Iberia and several investors, which includes a cell manufacturing plant in Badajoz, lithium extraction in Cañaveral and a methods factory. It requires an investment of 100 million euros.

Almoharín: the largest tungsten reserve in Europe

Under the name P6 Metals, the company Iberian Resources Spain expects to create around 500 direct jobs and more than 250 indirect jobs in the extraction and processing of tungsten and tin at the La Parrilla deposit – reopening Europe’s largest tungsten reserve. Tungsten, also known as wolfram, is a strategic mineral because of its enormous hardness and its use in metallurgy, aeronautics and the defence industry.

Located between Almoharín (Cáceres) and Santa Amalia (Badajoz), the deposit has attracted great interest, to the point that the Prime Minister of Japan, the Finance Minister and Japanese business groups have met with the Vice-President of the European Commission, Stéphane Séjourné, to discuss reducing the EU’s dependence on China, which exports 85% of the world’s tungsten.

Cañaveral lithium: 2.5 million cars per year

This project is also considered strategic. The Las Navas project, located in the municipalities of Cañaveral, Holguera and Pedroso de Acim, has the capacity to supply battery-grade lithium for around 10 years. The company Lithium Iberia plans to invest 340 million euros to process about 1.2 million tonnes of ore and 30,000 tonnes of lithium hydroxide a year, enough for 2.5 million electric vehicles annually.

Las Navas contains one of the most important lithium reserves in the EU. The project provides for 30 years of open-cast and underground mining and a production plant for lithium hydroxide, which is key for batteries. It will create at least 430 direct jobs and 1,200 indirect ones.

The Extremadura Newspaper

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Tungsten makes a comeback in Spain: strengthening Europe’s strategic mining sector (Expansión)

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.

Tungsten returns to Spain: strategic mining for Europe’s industry

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.

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Japan is considering investing in BlackRock’s Spanish mine (Expansión)

October 27, 2025 – Source: Expansión Newspaper

The interest of Japanese giants in tungsten strengthens Spain’s role in Europe’s strategic mining sector

The La Parrilla mine, located in Cáceres (Extremadura), has once again become a focal point in Europe’s industrial landscape. The company Iberian Resources, owned by the US investment fund BlackRock, leads the project to reopen this historic tungsten ( wolfram ) deposit — a mineral essential for technology, defence and the energy transition.

In recent months, major Japanese industrial groups such as Mitsubishi, Toyota, Marubeni and Kirin have expressed interest in taking part in the development of the site. These companies have been in contact with BlackRock to explore potential partnerships, including both capital investment in the project and the future purchase of the extracted mineral.

Japan considers investing in BlackRock’s Spanish mine

A strategic project for Europe

The European Commission has included La Parrilla in its list of strategic mining projects, considering it key to reducing dependence on China and other countries for the supply of critical raw materials.
Tungsten, due to its exceptional hardness, density and high melting point, is widely used in high-value industries — from electric motors and precision machinery to aerospace components and defence equipment.

According to EU estimates, the Extremadura mine could supply up to 30% of the total tungsten output in the European Union, positioning Spain as one of the continent’s leading producers.

Investment, sustainability and economic revival

The plan developed by Iberian Resources and BlackRock involves the entry of an industrial partner to secure the required financing and ensure long-term stability. It also includes a comprehensive modernisation of the processing plant, pending environmental approval from the Regional Government of Extremadura, to meet the EU’s most stringent sustainability standards.

This project would not only represent a significant economic boost for the region but also lead to the creation of hundreds of direct and indirect jobs, strengthening the local industrial network around a more sustainable and efficient mining model.

Japan and Europe seek supply security

Japan’s interest reflects a global trend: industrialised nations are searching for new, reliable and sustainable sources of critical minerals to mitigate supply risks arising from geopolitical tensions.
For Japan, securing access to materials such as tungsten is crucial for its powerful technology and automotive industries.

If the investment proceeds, Spain will consolidate its position as a European leader in responsible mining, aligned with the goals of industrial autonomy and the green transition promoted by the European Union.

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Iberian Resources’ La Parrilla Project designated a Strategic Project by the European Union

It is a pleasure for Iberian Resources Spain to announce a milestone of enormous relevance both for our company and for Europe’s industrial autonomy. On March 25, 2025, our La Parrilla mine project, together with its ore processing plant, has been officially designated by the European Union as a Strategic Project. This selection is framed within the recently implemented Critical Raw Materials Act (CRMA), under the EU Regulation 2024/1252.

This designation is not only a recognition, but also a validation of the fundamental role that La Parrilla will play in guaranteeing the supply of Tungsten (or Wolfram)a metal considered critical to the continent’s key industries. The CRMA seeks to reduce the EU’s dependence on third countries by strengthening domestic value chains and securing the materials needed for the digital and green transition. La Parrilla’s inclusion in this select list underlines the quality and viability of our project on a European scale.

The importance of this selection is magnified when looking at the figures: out of a total of 47 projects evaluated across the continent, the La Parrilla project is one of only 7 considered as “integral”. This term highlights that the European Union has strategically validated not only the extraction phase (the mine), but also the production and processing phase (the treatment plant). This positions La Parrilla as a robust, complete and essential project for the European supply chain, capable of offering a high value-added product directly to the market.

Tungsten is a mainstay for modern technology and high-end industry. Its exceptional hardness, high temperature resistance and density make it indispensable in sectors such as:

  • Aerospace and defense industry.
  • Electronic components, semiconductors and filaments.
  • Cutting tools, drilling and heavy duty machinery.
  • Technologies for energy transition, such as wind energy.

With this designation, Iberian Resources Spain not only advances in the development of one of the most important tungsten deposits in Europe, but also consolidates its position as a strategic partner for the industrial future and sovereignty of the European Union. This recognition encourages us to continue working with the highest standards of sustainability, efficiency and commitment to local and European development.

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