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.
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.
