The Spanish Government has announced a new national initiative aimed at promoting the exploration and development of critical mineral resources, supported by approximately €400 million in public investment.

The initiative forms part of Spain’s 2025–2029 Mineral Raw Materials Action Plan and is intended to strengthen domestic supply chains, reduce reliance on external sources, and support Europe’s broader strategy to secure access to critical raw materials essential for energy transition, advanced manufacturing, and digital technologies.

The program is expected to support the identification of new mineral resources, the reactivation of existing mining operations, and the advancement of projects considered strategically relevant at both the national and European levels.

This development is directly relevant to Iberian Occidental Mining Ltd.’s asset base in Spain. The Company holds a diversified portfolio of mineral projects, including the Atalaya project and the Río Manzanas high-purity silica asset. 

Atalaya comprises an operating diabase quarry producing aggregates and ornamental stone, alongside an exploration target for titanium dioxide and rare earth elements—materials classified as critical for a wide range of industrial and technological applications. 

The Río Manzanas project hosts approximately 95 million tonnes of high-purity silicon dioxide (>99.5%) and is strategically located with access to key infrastructure, positioning it as a potential supplier to European industrial markets. 

The announcement reflects a broader shift in European policy toward the development of domestic mineral resources and the reinforcement of strategic autonomy in critical raw materials.