Australian tin developer Elementos (ASX: ELT) has executed its option to acquire 50% of CRM’s Robledallano smelter in Spain for €3.625 million (approximately US$4.2 million).
The deal locks in the company’s pathway to become Europe’s first vertically-integrated primary tin producer.
Robledallano, owned by metal recycler and solder manufacturer CRM Synergies’ subsidiary Iberian Smelting, is currently operating and gully licensed to produce tin. The facility has a capacity to process 12,000 tonnes per year of tin concentrate.
Elementos’ Spanish tin project, Oropesa, is approximately 220 km by road from Robledallano.
Elementos Managing Director Joe David highlighted the alignment of the company’s project with EU policy, and said the company “will strive to service tin buyers who want to establish reliable and responsible tin supply from within the EU”.
CRM Synergies Director Manuel Alonso Lopez commented: “The partnership we have formed today will be good for CRM, good for Elementos, good for Spain and good for the European Union”.
“Partnering with a future producing tin miner like Elementos, via Iberian Smelting, will allow us to grow further and secure a larger market share of the growing tin market”.
The finalisation of the option remains subject to conditions including the completion of various equipment upgrades at the smelter to increase throughput and improve product quality.
Our view: ITA echoes Mr Lopez’s statement and we highlight the importance of a more diversified supply picture for the tin industry. This news is positive for Elementos, projected to commence production of tin concentrates at Oropesa in 2028, who will become Europe’s only mine-to-metal tin producer.
Elementos Limited is a member of ITA’s Explorers & Developers Group.
