Abenójar Tungsten, S.A. (“ABT” or the “Company”) is pleased to share a positive progress update on the development of the El Moto tungsten Project (“El Moto” or the “Project”) in Abenójar, Ciudad Real, Spain. Designated as a European Strategic Project, key workstreams are progressing at pace towards the commencement of construction works, targeted for 2026.
Highlights
- · Key permits including Mining Concession, Environmental License, and Urban Licenses in place, significantly de-risking Project development
- · Completion of Definitive Feasibility Study (“DFS”) outlining El Moto as a long-life, high-margin tungsten operation at base case, with further optimisation potential at current spot prices
- · Designated under the EU Critical Raw Materials Act, with EIT Raw Materials guidance helping attract development and financing
- · Mine plan projected to incorporate highest standards of environmental responsibility and reinforce long-lasting benefits to the region
- · The Company is led by the García San Miguel family, a fourth generation mining family with an established track record of successful construction, operation and rehabilitation of mining projects across Spain, establishing deep credibility and endorsing local stakeholder support
Gonzalo Garcia San Miguel, Chief Executive Officer of Abenójar Tungsten, S.A., commented:
“We continue to make demonstrable progress on workstreams that not only de-risk El Moto and define a pathway to first production, but raise the profile of the Project immeasurably. The recent designation as a European Strategic Project reflects long-term efforts of our team, who have delivered a robust DFS and successfully put in place key permits that allow us to define El Moto’s potential strategic significance and move forward into the next key growth phase.
“As defined in our 2024 DFS, El Moto constitutes a long-life, low-cost tungsten operation, with the potential to meaningfully serve Europe’s tungsten needs and support critical mineral supply chain resilience as early as 2029. The strategic importance of tungsten, as a critical component in sectors that underpin modern society, is increasingly apparent, and reflected in the strengthening spot price. As we move forward with optimisations to the current study, we will look to define the additional upside presented at today’s prices.”
Sustainable extraction with minimal surface impact
The mine will be developed to a depth of approximately 50 metres, with operations designed to minimise the visual impact on the surrounding landscape. ABT is committed to applying sustainable extraction methods throughout the life of the project.
Chemical-free mineral processing
The mineral treatment process will use gravimetric recovery, requiring no chemical additives. This is possible because both tungsten and gold have a significantly higher density than the host rock, which is predominantly granite, allowing effective separation through gravity alone.
The processing plant will operate a zero-discharge water system, with all water used in the production circuit fully recirculated. No process water will be released into the surrounding environment.
Employment and regional economic impact
During the 24-month construction phase, ABT estimates the project will generate approximately 600 jobs. Once fully operational, the Company estimates that El Moto will generate over 300 direct and over 500 indirect jobs.
The regional government of Castilla-La Mancha has also called for the promotion of downstream industrial development linked to tungsten processing, with the aim of broadening the economic and social impact of the project across the wider region.
DFS potential upside
ABT completed a DFS for El Moto in 2024, which outlined a low-cost, long-life tungsten and gold operation. In response to the recent high tungsten price environment driven by ongoing export controls on tungsten products implemented by China, the Company will explore the possibility of undertaking an updated study to define the potential upside at current spot prices. This will incorporate further mine plan optimisations.
