Jaén was the largest producer of lead in the world. Decades later, he wants to repeat the game with rare earths, but he has a problem: reality

Somewhere between Linares and La Carolina there is a rusty derrick: the iron skeleton of what was, at the end of the 19th century, the largest producer of lead in the world. It is, obviously, the past, but in recent years many are completely obsessed with it being also the future.

We have the latest example of this about 80 kilometers north of that derrick. There, in Aldeaquemada, an Australian company has just extracted a drill core and to announce that it is “a high quality area”.

The question that hovers over Jaén these months is not whether there are minerals under its feet. We all know that. The question is whether all this dance of prospecting that we are seeing is something real or is it simply the expression of the desire of a province that continues to associate its ‘golden age’ with mining.

What is happening? The last episode, as I say, stars Osmond Resources. In the SOR-08 survey has cut more ore than expected north of the province. We are talking about a project that covers 756 mining units between Aldeaquemada and Santiesteban del Puerto and search “titanium, zirconium, hafnium and rare earths” trapped in quartzites that hundreds of millions of years ago were beach sand.

The ad has a trick, yes. What they have announced is a confirmation ‘during’ drilling. Laboratory analyzes (those that count) will take weeks. But, in reality, that is not what interests us. It is enough to do a small search on the internet to confirm that Jaén entire is being drilled with passion and enthusiasm

for months now.

And where does all that enthusiasm come from? In principle, three relatively independent engines. The first is geopolitical: in 2024, the European Union pressed the accelerator on ‘mineral sovereignty’ and approved a regulation on critical raw materials. The idea was to ensure that the extraction, processing and recycling of strategic raw materials carried out in Europe cover respectively 10%, 40% and 25% of EU demand.

A project like Orión, oriented towards rare earths, is typical of something that in Europe (and in Madrid) sounds like glory.

The thing about Madridor it is rhetorical. Just a couple of months ago, the Government approved a raw materials plan of 414 million euros which includes the largest mining prospecting campaign in Spain in more than half a century. Sierra Morena is expressly cited in it. Sara Aagesen he came to say that “with all certainty” rare earths will appear in the country.

And then there’s the bag… That is the third engine. Companies like Osmond Resources live off the deposits, yes; but above all they live off the news cycle. After all, its market capitalization depends more on the ‘media battle’ than on the final results. In a field as complex as mining, failure is almost a given.

And why is it important? Because behind all this noise there are a lot of small, aging towns those who are sold a new future. The mayor of Aldeaquemada It didn’t take long to celebrate Osmond’s results as a way to “generate jobs and wealth.”

But the reality is that the Most exploration projects never produce. The energy transition has served as an alibi to look underground again, but the sector has changed so much that for the vast majority of actors, expectations are beginning to be more useful than reality. And that, in Empty Spain, is an existential problem.

Image | Shane Mclendon

In Xataka | Where there was lead before, now there will be rare earths: Jaén revives its mining past for the energy transition