San Juan

The wolfram deposit in the area near A Gudiña has been known approximately since the 1970s.

Apart from the already proven reserves, the potential for a much larger reservoir is geologically high but requires proper investigation guided by the mineralized outcrops and the geologic and genetic interpretation of the reservoir.  Estimates set mine life to +12 years, with a total estimated extraction of approximately 910,000 tons of ore. This needs to be confirmed via further explorations and priority will be given to future resource expansion through core drilling.

The price of tungsten has been very stable during the last 10-15 years. But in recent times, the dominance of specific countries and export controls have significantly tightened supply, pushing global prices upward. Rising demand from high-tech, defence, and green sectors – especially electric vehicles and renewable infrastructure – is also placing additional upward pressure on wolfram. The stable and/or rising prices, ensures the profitability of the project.

The importance of wolfram for Europe

Wolfram, also known as tungsten, is a critical raw material for Europe due to its unique properties and strategic applications. With the highest melting point of all metals, exceptional hardness, and high density, tungsten is indispensable in the manufacturing of hard metals used in cutting tools, mining equipment, and high-performance alloys. These materials are essential across key sectors such as aerospace, automotive, construction, energy, and electronics. Tungsten also plays a vital role for the European security and the regions defencecapabilities, where it is used in armour, military-grade components, and heat-resistant materials for aircraft and defence systems.

Europe is heavily dependent on imports of tungsten, with over 80% of the global supply coming from China. This creates a significant strategic vulnerability, especially in light of geopolitical tensions and supply chain risks. Recognizing this, the European Commission has classified tungsten as a Critical Raw Material (CRM) due to its economic importance and high supply risk.

Moreover, wolfram supports the EU’s green and digital transitions, as it is used in clean energy technologies such as wind turbines and in advanced electronics that drive innovation. Ensuring a stable and responsible supply of tungsten is therefore essential for Europe’s industrial resilience, technological leadership, and strategic autonomy. To address this, the EU is investing in domestic mining projects, promoting responsible sourcing, and encouraging recycling to secure long-term access to this indispensable raw material.