Energy Transition Minerals (ASX: ETM) to Acquire Penouta Tin-Tantalum-Niobium Mine in Spain
NIA’s latest brand-new stock suggestion Energy Transition Minerals (ASX: ETM) gained by 5.32% this evening to $0.099 per share after announcing it is acquiring the Penouta Tin-Tantalum-Niobium Mine in Spain.
Energy Transition Minerals (ASX: ETM) is a future 30-50 bagger.
ETM to Acquire Penouta Tin-Tantalum-Niobium Mine in Spain
Energy Transition Minerals Limited (ASX: ETM) has received judicial approval to acquire the Penouta tin-tantalum-niobium mine in Spain. Energy Transition Minerals Ltd is an exploration and development company focused on developing and financing supply chains for the metals and materials that are critical to the decarbonisation of the world, with a special focus on high-quality mineral projects globally. The acquisition, conducted through its wholly-owned subsidiary Energy Transition Minerals Spain S.L., marks a strategic move for ETM to expand its portfolio and establish a presence in the European Union.
The Spanish insolvency court confirmed ETM as the preferred buyer of the Penouta Mine for €5.2 million (A$9.2 million). This acquisition diversifies ETM’s portfolio beyond a single asset with litigation risk, turning it into a multi-asset, EU-based critical minerals developer and potential near-term producer. According to the company, Penouta is the only developed tin-tantalum-niobium project in the European Union and aligns with Europe’s goal to increase critical mineral production and enhance supply chain security.
The Penouta Mine transaction offers a clear pathway to early cashflow, with potential off-take and industrial mineral by-products from the Section B Concession (tailings reprocessing). Permits for the Section B Concession remain in good standing, while re-compliance will be required for the Section C Concession (new mining). ETM will fund the acquisition from existing cash reserves, which aligns with the company’s vision to become a developer and producer of critical minerals.
Completion of the transaction is expected by December 2025, subject to standard conditions and government approvals. ETM’s Managing Director, Daniel Mamadou-Blanco, stated the company’s intention to restore the Penouta mine to production as soon as practicable and unlock benefits for the local community. ETM remains committed to advancing its Kvanefjeld Rare Earths Project in Greenland.
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