Cobre Las Cruces begins a new chapter with Global Panduro to advance its European Strategic polymetallic refinery project

Cobre Las Cruces S.A.U. (CLC) today announces the completion of the transaction through which Global Panduro S.L.U., a company controlled by Resource Capital Funds (RCF), has acquired 100% of the company from First Quantum Minerals (FQM).

This agreement opens a new chapter for the mining and metallurgical facility, located 20 kilometres northwest of Seville where CLC will continue as a Spanish-headquartered operation under its new owner. From an industrial and economic perspective, the project will consolidate Cobre Las Cruces as a leading technological and industrial hub in Andalusia, Spain and Europe, generating skilled employment and fostering a strong local value chain.

RCF is a group of commonly managed private equity funds, established in 1998, with a mining sector specific investment mandate spanning across mineral commodities and geographic regions. Since inception, RCF has supported over 235 mining companies, with projects located in 55+ countries and across 35+ commodities. Further information about RCF can be found on its website (www.resourcecapitalfunds.com).

The immediate focus under the new ownership will be the advancement of the PMR (Polymetallurgical Refinery) Project – a strategic industrial development that will bring a new underground mining operation and a state-of-the-art refinery producing copper, zinc, lead and silver from a primary sulphide ore body. It is expected to support at least 20 more years of mining, industrial activity and value creation for the region.

This project was recognised by the European Commission in March 2025 as a Strategic Project under the Critical Raw Materials Act, underlining its significance to European industrial resilience and the energy transition.

Pedro Soler, CEO of Cobre Las Cruces:

“The closing of this transaction marks the beginning of a new chapter for Cobre Las Cruces, backed by a leading investor in the global mining industry. Our project — a polymetallurgical refinery based on cutting-edge technology — has recognised strategic value and extraordinary potential for Andalusia and Spain, as well as for the critical materials supply chain in Europe. With RCF as our partner, we have the resources, the knowledge and the drive to bring it to full and successful fruition.”

 

(Español) La Diputación de Sevilla destaca la “sostenibilidad económica y medioambiental” del nuevo proyecto polimetalúrgico de Cobre Las Cruces

(Español) La Comisión Europea selecciona la nueva refinería polimetalúrgica de Cobre Las Cruces como Proyecto Estratégico en materias primas

(Español) Cobre Las Cruces y ANSEMAC reúnen a empresarias del Medio Ambiente para debatir sobre igualdad y minería sostenible

Cobre Las Cruces Seeks To Convert Mine Waste Into Cobalt for Electric Vehicle Batteries

  • The pioneering project is aimed at extracting Critical Raw Materials (CRM) from European mine waste. 
  • Innovation focused on the development of renewable energy and energy storage, including cobalt for electric vehicle batteries. 
  • Will help to increase EU market value by reducing dependence on external CRM markets.

As part of the EU-funded RAWMINA project, Spanish mining company, Cobre Las Cruces (CLC), will test new technologies that seek to extract cobalt, tungsten, gold, silver from mine waste.

The pioneering extraction methods will provide critical raw materials that are essential for energy transition; both for the development of renewable energies and for new energy storage systems, such as electric vehicle batteries.

One of these methods is bioleaching: a hydrometallurgical process using microorganisms to extract metals from rocks. Compared to conventional metallurgical processes, bioleaching offers benefits such as lower energy and chemical consumption, reduced CO2 footprint and lower capital and operational costs.

The test will be conducted at the pilot plant built in 2016 by CLC as part of its future polymetallic refinery project. 

Cobre Las Cruces Pilot Plant

Having the capacity to produce the raw materials that are critical to the energy transition from mine waste could also help reduce European dependence on external markets, such as China.

The RAWMINA project got underway in 2021 and is now entering its final phase. The project involves an international consortium consisting of 19 specialist partners from 10 countries.

CLC’s Director of Innovation and Environment, Joaquín Gotor notes that: “With this project, we will be able to add new metals to our production portfolio using circular economy principles, contributing to the green transition of greater environmental sustainability”.

Marco Lopes, Impact Acceleration Manager at project partner Crowdhelix sees RAWMINA as being at the leading edge of mitigating EU critical resource scarcity:  “The EU is facing a definite challenge with the unreliable supply of critical raw materials. To help mitigate this challenge, the EU-funded RAWMINA project aims to revolutionise the production of raw materials within the EU by harnessing the potential of mine waste resources. Through the development of an innovative pilot system, RAWMINA seeks to establish a sustainable and efficient process for extracting these essential materials.”

CLC is one of the most active Andalusian companies in Horizon 2020 programmes, and participation in the Rawmina project adds to other R&D programs in which the Seville-based mining and metallurgical company actively collaborates. Among them is the European consortium METALLICO, which develops new innovative and sustainable methods to obtain strategic metals for battery manufacturing, such as lithium, cobalt, copper, manganese and nickel.

CLC also participates in the University Innovation Center of Andalusia, Alentejo, and Algarve (CIU3A), with a project to research the use of metals from the Andalusian Pyritic Belt to manufacture next-generation batteries for efficient renewable energy storage. In addition, CLC is part of the European Raw Materials Alliance, a major agreement to ensure the supply of key metals for the European industry. 

(Español) El consejero de Política Industrial y Energía visita Cobre Las Cruces y respalda su nuevo proyecto polimetalúrgico