The completion of the basic engineering provides the technical foundation for the next phase of project execution. In parallel, the Company has placed orders for the main process equipment, with manufacturing already underway at international suppliers to the mining industry. The placed orders represent an investment of several million euros, covered by financing already available for the project.

This progress builds on the project’s established regulatory foundation. San Juan has a 30-year extension to its mining licence, valid until 2055, providing long-term regulatory stability.

“The completion of the basic engineering and the start of manufacturing of the main equipment mark a decisive step for San Juan. We are no longer talking only about planning: we are moving towards project execution. We have selected internationally recognised manufacturers and are now moving forward with the key components of the future plant. The objective is clear: to move towards tungsten production in Europe and contribute to strengthening the security of supply of a strategic raw material for our industry,” says Roberto García Martínez, CEO of Eurobattery Minerals.

The main equipment for the crushing section has been awarded to an international manufacturer of technologies for the mining industry. The equipment for the grinding plant has been ordered from a manufacturer specialising in large-scale equipment for mining and heavy industry, which will manufacture the equipment at its facilities in Galicia.

The Company has also advanced the procurement of equipment for the gravity concentration circuit. The shaking tables and concentration spirals have been ordered from two international manufacturers specialising in this type of equipment. This is conventional gravity concentration technology, consistent with the results of metallurgical testwork conducted on San Juan ore.

In addition, Tungsten San Juan has completed the technical and commercial negotiations for the remaining equipment that will form part of the processing plant, including screens, hydrocyclones, thickeners, tanks, pumps, pump boxes and other auxiliary equipment. Final awards for these supplies will be made shortly, taking into account criteria including performance, operational reliability and safety.

“Receiving the final basic engineering report and starting the manufacturing of the main equipment are important steps for the project. At this stage, we are moving from engineering into execution, ensuring that the different equipment packages and plant systems are properly defined and coordinated. Our objective is to move forward in a structured way, with a continued focus on quality, safety and the efficiency of the future operation,” says Pedro Jiménez de Francisco, Project Director of Tungsten San Juan S.L.

Tungsten is a strategic raw material for Europe, with applications in sectors including defence, aerospace, energy, advanced manufacturing and other industrial technologies. Europe is highly dependent on imports and supply is highly concentrated: according to Eurostat, in 2025 China accounted for 68% of the value of European imports of ferrotungsten, followed by Vietnam with 21% and Kazakhstan with 8%*. Together, these three countries accounted for 97% of external supplies of this material to the EU, highlighting the importance of developing European sources of supply.

*Source for ferrotungsten data: Eurostat (Statistics Explained); https://ec.europa.eu/eurostat/statistics-explained/index.php?title=International_trade_in_critical_raw_materials

Forward-looking statements
This press release contains forward-looking statements. Such statements are based on the Company’s current expectations and assumptions and are subject to risks, uncertainties and other factors that could cause actual results or developments to differ materially from those expressed or implied by the forward-looking statements.