Permit Delays and Financing Remain Key Risks for Elementos’ EU Tin Ambitions
Elementos Limited advances its Oropesa Tin Project in Spain and Cleveland Tin Project in Tasmania, securing a binding option to acquire 50% of a Spanish tin smelter, positioning itself as the European Union’s primary vertically integrated tin producer amid strong tin prices.
- Binding option secured for 50% of Robledallano Tin Smelter in Spain
- Oropesa Tin Project progressing through key permitting and development stages
- Cleveland Tin Project advancing with tungsten resource re-estimate and rubidium testwork
- Strong tin prices support project economics and strategic positioning
- New $2 million loan facility established, cash position at $2.22 million with 3.3 quarters funding
Strategic Vertical Integration in Europe
Elementos Limited has taken a significant step towards establishing the European Union’s first vertically integrated tin supply chain by executing a binding option agreement to acquire a 50% stake in Iberian Smelting SL, owner of the Robledallano Tin Smelter in Spain. This acquisition, located just 220km from the Oropesa Tin Project, locks in a mine-to-metal strategy that will see tin concentrate from Oropesa refined into tin metal ingots within Europe, capturing delivery premiums and reducing environmental and logistical costs associated with shipping concentrate to Asia.
Oropesa Tin Project Advances Amid Positive Regulatory Engagement
The Oropesa Tin Project in Andalucía, Spain, continues to progress steadily through critical development milestones. The company has submitted comprehensive documentation for primary environmental and mining permits, receiving encouraging feedback from regulators and the Andalucian Project Accelerator Unit. The project benefits from a robust Definitive Feasibility Study and Maiden Ore Reserve, underscoring its technical and economic viability. Elementos is also conducting metallurgical testwork with Atlantic Copper to explore additional low-grade tin concentrate production, potentially enhancing project output.
Cleveland Tin Project – Expanding Critical Minerals Potential
In Tasmania, the Cleveland Tin Project is advancing with ongoing work to re-estimate tungsten mineral resources following new drilling results. The project also hosts significant rubidium mineralisation, with testwork underway at the University of Tasmania to identify host minerals and develop concentration methods. Ore sorting tests targeting tungsten and associated critical minerals are nearing completion, potentially improving resource efficiency. The Tasmanian government’s announcement of a feasibility study into a centralized tin and tungsten processing facility further supports the project’s strategic importance.
Financial Position and Market Context
Elementos closed the quarter with a cash balance of approximately $2.22 million and established a new $2 million unsecured loan facility with Chairman Andy Greig, providing financial flexibility with 3.3 quarters of funding available at current expenditure rates. The tin market remains robust, with prices reaching multi-year highs around US$36,000 per tonne, driven by supply constraints and strong demand from electronics, renewables, and advanced manufacturing sectors. This market environment enhances the attractiveness of Elementos’ projects, particularly given their location in politically stable, regulated jurisdictions.
Looking Ahead
Elementos is focused on maintaining disciplined progress across permitting, financing, and strategic partnerships to support the development of its tin assets. The company’s vertical integration strategy and EU-based supply chain position it uniquely to meet growing demand for responsibly sourced tin. Ongoing engagement with potential partners and investors is expected to accelerate as the company moves closer to final investment decisions and production commencement.
Bottom Line?
Elementos is poised to become the EU’s cornerstone tin producer, but permit approvals and partner deals will be critical next steps.
Questions in the middle?
- When will the primary environmental and mining permits for Oropesa be finalized and granted?
- How will Elementos finance the full development and smelter acquisition beyond current facilities?
- What are the timelines and expected outputs for the Cleveland Project’s tungsten and rubidium resource upgrades?
