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Spain’s Abenójar Tungsten has completed a €170M listing on the London Stock Exchange, marking the largest mining IPO in London in several years and providing a notable boost to the city’s mining capital markets.
The company is developing the El Moto tungsten project in central Spain, which has been identified as one of Europe’s most significant undeveloped tungsten deposits. Construction is already underway, with first production targeted for 2029.
The listing comes at a time when European governments are seeking to strengthen domestic supplies of critical minerals. Tungsten is considered strategically important due to its use in defence systems, aerospace applications, industrial manufacturing and electronics, while global production remains heavily concentrated in China.
查看配图：Abenójar Tungsten IPO Signals Renewed Confidence in London Mining Markets
Beyond the project itself, the transaction highlights London’s continued role as a centre for mining finance. While recent years have seen fewer large mining listings, the successful flotation suggests investors remain willing to support critical minerals projects that offer scale, strategic relevance and a clear development pathway.
The funds raised will support continued development of El Moto and associated processing infrastructure, as the company seeks to establish a new European source of tungsten production.
With increasing attention on supply chain security and critical materials, the success of the IPO may also encourage other developers to consider public markets as a source of growth capital.
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