Galicia hides beneath its soil an indispensable technological treasure for the 21st century, and the machinery to unearth it has already been put into operation. We are talking about the Penouta mine, located in the Ourense town of Viana do Bolo, which is the only coltan mine on the way to being active again throughout Western Europe.
This is not a new deposit, since the original operations of this mine They ceased in 1985 and the area was abandoned. Although there was a recent attempt at reactivation by the company Strategic Mineralsthe project ended in bankruptcy. Today, however, this highly strategic asset awakens from its slumber and its long-awaited reopening already depends on one last bureaucratic push that could be resolved before this summer.
The penultimate notice. To understand where this mining resurgence is, you have to look at the offices. According to the Vigo Lighthousethe Council of Ministers has just given the green light to Foreign Direct Investment (FDI). This step was vital for the Australian group Energy Transition Minerals (ETM), through its Spanish subsidiary, definitively acquires the deposit. A purchase that has been forged after a public auction in which the firm presented an offer of 5.2 million euros.
With the blessing of the central government and the financial muscle secured, the ball is now in the court of the Xunta de Galicia. As pointed out The Voice of Galiciathe operation depends solely on the General Directorate of Energy and Mines approving the transfer of the licenses from the former promoter to ETM. The Ministry of Economy and Industry assures that the process is “very advanced.” Regarding deadlines, the company hopes to be able to sign the deeds in the month of May, or in any case, complete the process throughout the second quarter of the year, inevitably before the month of July.
A lifeline for Europe’s technological sovereignty. The Galician exploitation of Penouta is rich in tin and tantalum (popularly known as “black gold” or coltan), critical minerals for the manufacture of electronic components at a time when Europe seeks to depend less on third countries. According to statements by Daniel Mamadou, general director of ETM, collected by The Economistthe company has committed to ensuring that all production “remains available for the development of associated industries within the European Union”, and have already initiated contacts with potential local partners.
Added to this is its value as a circular economy model. An EU report a few years ago dedicated an entire chapter to Penoutahighlighting it as a reference in the recovery of critical raw materials from mining waste (slag heaps) from the old exploitation of the 80s, an activity that, in addition, “can help restore the environment.”
The open fronts. The reactivation plan will be progressive, where ETM plans to start first with “section B” (the waste dumps), which will allow a gradual incorporation of workers. In parallel, the company will prepare the documentation to request a new license for “section C” (the exploitation of the mine itself) with the aim of starting to extract coltan in 2027. To shorten these bureaucratic deadlines, the company plans to request the declaration of a Strategic Industrial Project (PIE).
This care when requesting new licenses is not coincidental, since the judicial front has marked the recent history of Penouta. On the one hand, there is good news for the project: the Provincial Court of Ourense firmly filed a case for alleged polluting discharges in February when it found no evidence of criminality. However, the main exploitation permit of the previous owner was annulled in 2024 by the Superior Court of Xustiza of Galicia (TSXG), considering the environmental impact study on the Natura 2000 Network “insufficient”, a decision that is currently pending appeals before the Supreme Court.
The firm that will change everything. The closure of the previous stage of the Penouta mine left 55 families on the streets after the bankruptcy. Today, the scenario is radically different. With Australian financing guaranteed, authorization from Madrid in the pocket and a judicial horizon that is beginning to clear, Galician “black gold” has ceased to be a frustrated project and has become the country’s great mining hope. Now, the entire sector holds its breath waiting for that single signature from the Xunta de Galicia that will put Ourense back on the map of the European energy transition.
Image | Strategic Minerals Europe
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