How Elementos Is Shaping Europe’s Tin Future with Oropesa and Metals X
Elementos Limited has delivered a robust Definitive Feasibility Study for its Oropesa Tin Project in Spain, secured a $5 million strategic investment from Metals X, and progressed exploration at its Cleveland Tin Project in Tasmania.
- Robust DFS confirms Oropesa’s technical and economic viability
- Maiden Ore Reserve of 15.9Mt at 0.36% tin declared
- Key licensing documentation lodged for Oropesa project
- $5 million strategic placement by Metals X acquiring 19.98% stake
- Drilling and resource updates at Cleveland Tin Project in Tasmania
Oropesa Tin Project, A European Tin Supply Beacon
Elementos Limited has marked a pivotal quarter with the release of a Definitive Feasibility Study (DFS) for its flagship Oropesa Tin Project in Andalucía, Spain. The DFS confirms the project’s robust technical, environmental, and economic credentials, underpinning a clear pathway to develop Europe’s only highly defined, responsibly planned tin mine within the European Union. The study outlines a 12-year open-cut operation producing approximately 3,405 tonnes of contained tin annually, with an all-in sustaining cost of around US$15,000 per tonne of tin metal.
Crucially, the company declared a Maiden Ore Reserve estimate of 15.9 million tonnes at 0.36% tin, reinforcing Oropesa’s status as one of the world’s most advanced undeveloped tin projects. The project’s strategic location, just 150km north of Seville, offers excellent access to Europe’s infrastructure and aligns with the EU’s critical raw materials agenda.
Licensing and Vertical Integration Progress
During the quarter, Elementos lodged comprehensive documentation totaling over 11,000 pages to secure the primary licenses required for mine construction and operation. The submissions for the Unified Environmental Authorization and Mining Licence are currently under review by the Andalusian authorities, with early feedback encouraging. This regulatory progress is a significant milestone toward the project’s Final Investment Decision.
In parallel, Elementos is advancing its vertically integrated mine-to-metal strategy within the EU. The company is progressing an option agreement to acquire a 50% stake in the Robledallano Tin Smelter, located 220km from Oropesa, and has initiated metallurgical testwork with Atlantic Copper, a Freeport-McMoRan subsidiary, to explore smelting opportunities at their Huelva complex. These steps aim to establish a fully integrated and independent tin supply chain within Europe.
Strategic Investment and Corporate Developments
Elementos secured a $5 million strategic placement from Metals X Limited, Australia’s largest tin producer, which now holds a 19.98% stake in the company. This investment not only provides vital funding for ongoing development but also brings Metals X’s expertise and industry connections to the table. Subsequently, Metals X executives Brett Smith and Daniel Broughton joined Elementos’ board, strengthening governance and operational oversight.
On the financial front, Elementos repaid a $1 million loan facility to its Chairman and replaced it with a new $2 million unsecured facility on similar terms, ensuring continued financial flexibility. The company ended the quarter with $4.43 million in cash and approximately 3.8 quarters of funding available based on current expenditure levels.
Cleveland Tin Project, Exploration and Resource Updates
In Tasmania, the Cleveland Tin Project saw the completion of a drilling program targeting shallow copper, gold, silver, and tin mineralisation. While some electromagnetic anomalies did not yield expected mineralisation, the exploration continues to refine the resource base, including significant tungsten mineralisation in the Foleys Zone. Elementos is preparing an updated resource estimate for this zone, which will be reported in due course.
Market Context and Outlook
Tin prices remained resilient throughout the quarter, averaging above US$32,000 per tonne on the London Metal Exchange. Supply disruptions in key producing regions such as Myanmar, Indonesia, and the Democratic Republic of Congo have tightened global availability, while demand from electronics, renewable energy, and electric vehicle sectors continues to grow. Industry forecasts suggest a structural tin supply deficit emerging from 2027 onwards, positioning Elementos’ projects strategically to meet future market needs.
Bottom Line?
With strong feasibility results and strategic backing, Elementos is poised to become a cornerstone of Europe’s tin supply chain; next steps hinge on licensing and partnership finalisations.
Questions in the middle?
- When will the primary licenses for Oropesa be granted, and what conditions might they include?
- How will the metallurgical testwork outcomes with Atlantic Copper influence the final smelting strategy?
- What are the timelines and funding requirements for advancing Cleveland from exploration to production?