Energy Transition Minerals secures regional green light for Penouta Mine restart in Spain
2026-07-02 11:05:07 [Print]
A dormant mine nestled in the hills of inland Galicia has moved closer to becoming the European Union's sole domestic primary source of tantalum and niobium, following Energy Transition Minerals' (ETM) announcement on Wednesday that it has obtained the final regional authorization required to assume control of the asset.
The Xunta de Galicia, the regional government, has approved the transfer of the Section C mining concession at the Penouta mine, located in the municipality of Viana do Bolo, Ourense, to ETM's Spanish subsidiary.
The resolution formally acknowledges the company as the new holder of the mining rights and represents the final regional hurdle in its effort to salvage the project from the insolvency of the previous operator, Strategic Minerals Spain, which ceased production and collapsed in 2024.
ETM stated that it retains the open-pit mine, a processing plant specifically designed for its ore, and supporting infrastructure-remnants of a historical investment totaling approximately €28 million.
Penouta spans 282 hectares and holds certified measured and indicated resources of more than 76 million tonnes, in accordance with NI 43-101 standards. Mineral resources in the area were exploited from the early 20th century until the 1980s, with exploration activities reactivated in 2011 by Strategic Minerals Spain, focusing on the reprocessing of tailings from the earlier mining operations.
The Xunta de Galicia, the regional government, has approved the transfer of the Section C mining concession at the Penouta mine, located in the municipality of Viana do Bolo, Ourense, to ETM's Spanish subsidiary.
The resolution formally acknowledges the company as the new holder of the mining rights and represents the final regional hurdle in its effort to salvage the project from the insolvency of the previous operator, Strategic Minerals Spain, which ceased production and collapsed in 2024.
ETM stated that it retains the open-pit mine, a processing plant specifically designed for its ore, and supporting infrastructure-remnants of a historical investment totaling approximately €28 million.
Penouta spans 282 hectares and holds certified measured and indicated resources of more than 76 million tonnes, in accordance with NI 43-101 standards. Mineral resources in the area were exploited from the early 20th century until the 1980s, with exploration activities reactivated in 2011 by Strategic Minerals Spain, focusing on the reprocessing of tailings from the earlier mining operations.
Niobium Conc. Nb2O5 50%min, Ta2O5 5%min CIF China
Unit:USD/lb Oxides
China niobium oxide producers' inventory to production ratio statistics by province by month
Unit: %
