Elementos (ASX:ELT) has been making progress with debt, equity, and offtakers interested in partnering to project finance the Oropesa Tin Mine and smelting assets in Spain.
Speaking to Mining.com.au, Managing Director Joe David says the tin developer has big plans for the next six months, with major project milestones expected.
“We also look forward to achieving some major permitting milestones in the next six months at the Oropesa Tin Project in Spain, with the view of targeting a 2026 final investment decision,” David says.
David notes the company is also continuing to evaluate other tin projects within close geographic proximity to Oropesa and the Robledollano tin smelter. Elementos plans to leverage the assets and team it has in Spain to grow its exposure to tin.
On 13 October 2025, Elementos executed a binding call option agreement to acquire a 50% stake in Iberian Smelting for €3.63 million ($6.45 million).
Elementos intends to deliver tin concentrate produced from its Oropesa Project in Spain to the Robledallano facility for it to be smelted and refined into tin metal ingots.
An Elementos subsidiary will then streamline tin metal ingots produced to be commissioned through the European and North American markets.
Earlier this year, Elementos conducted a Definitive Feasibility Study which outlined the technical and economic viability of the Oropesa Project, outlining the asset will produce an average of 3,405 tonnes of contained tin per year.
Hitting milestones
Oropesa – which has an estimated 12-year mine life – has a pre-tax net present value of $270 million and an internal rate of return of 26% with a payback period of 2.7 years, as reported.
David tells this news service the main hurdle for junior miners this year was relatively weak equity markets and share prices.
“While Elementos has been hitting its major milestones it has managed to maintain low levels of dilution, with only a single equity raise to Metals X (ASX:MLX) in 2025, a strategic investor in Elementos (19.99%) and the 50% owner of Australia’s largest tin mine,” he says.
Elementos, which has a market capitalisation of $106 million, is also focusing on increasing its understanding of the resource base at its Cleveland Tin Project in Tasmania during 2026.
“In Tasmania, we are currently re-estimating the tungsten mineral resources, currently 4 million tonnes @ 0.3% tungsten oxide, and also revising the historical exploration target,” David says.
“Also in Tassie, the company continues to further explore the minerals identified in the recent drilling campaign, including rubidium, fluorite, molybdenum, and bismuth.”
Elementos is focused on advancing two mature tin assets through key development stages into operations within Andalucia, Spain, and Tasmania.
Write to Aaliyah Rogan at Mining.com.au
Images: Elementos
