The Spanish mine backed by EIT RawMaterials is set to boost Europe's tungsten supply by 20 percent.
The El Moto tungsten and gold project in the autonomous community of Castilla-La Mancha, Spain, recently reached a major milestone with the completion of its Definitive Feasibility Study (DFS), confirming a resource of 91 million tons of tungsten ore and 1.2 million ounces of gold. The project is set to make a substantial contribution to strengthening Europe’s supply of tungsten.
Tungsten, classified by the European Commission as both a critical and strategic raw material, is vital to EU’s green and digital transition as it is an enabler in several industries, including manufacturing, aerospace, energy and transport. Its exceptional strength, density, and resistance to heat make it indispensable to a wide range of applications: from lightbulb filaments and robotic arm components to green technologies like solar photovoltaics and advanced battery systems for electric vehicles.
Despite its importance, Europe remains highly dependent on tungsten imports, with China controlling over 80% of the global supply and dictating prices for tungsten and its derivatives. This heavy reliance presents a significant risk to Europe's supply chain, particularly in light of China's recently announced export controls on tungsten. The need for Europe to secure a reliable and sustainable domestic supply of this vital resource is increasingly urgent.
The El Moto project is well-placed to meet this need. Once operational, it is projected to supply 20% of Europe’s tungsten demand - far exceeding the Critical Raw Materials Act target for the EU to domestically produce at least 10% of its critical raw materials needs.
A unique deposit
First discovered during gold exploration by Spain’s state-owned company MAYASA, the tungsten-gold deposit found at El Moto represents a unique resource in Europe and is the only site of its kind ready for production. Over the past 12 years, Abenójar Tungsten SL has invested nearly EUR 15M of its own funds in developing the project.
This significant investment of resources has uncovered a highly valuable deposit, with a tungsten trioxide (WO3) grade of over 0.4%, making it the richest tungsten deposit in Europe. The porphyry structure also offers practical benefits, enabling mining with minimal waste, which will improve both efficiency and sustainability in the extraction process.
The significant gold content of the deposit is also set to increase the project’s revenue potential by more than 15%.
Support from EIT RawMaterials
EIT RawMaterials and the European Raw Materials Alliance (ERMA) have played an important role in supporting the development of the El Moto mine and the project is now seeking recognition as a strategic initiative under the Critical Raw Materials Act (CRMA), working closely with ERMA and EIT RawMaterials.
After 14 years of productive yet challenging preparation, we are thrilled to embark on the final phase of this project: delivering high-grade tungsten from Europe, for Europe. We extend our heartfelt gratitude to EIT RawMaterials for their unwavering support in exploring financing opportunities and accompanying us on this crucial step toward opening a mine that is vital for Europe’s future.Gonzalo García San Miguel, CEO of Abenójar Tungsten SL
Next steps for the project
The El Moto project is now entering a critical phase, requiring EUR 140M in funding to kick off construction of its underground mining operations in 2025. Production is expected to begin by 2027, but progress depends heavily on strong support from national and European institutions.
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