Traxys Europe S.A. and Abenójar Tungsten S.A. sign exclusive long-term offtake agreement for the El Moto tungsten project in Spain

Traxys Europe S.A. and Abenójar Tungsten S.A. have announced the signing of a definitive, long-term exclusive offtake agreement for the tungsten concentrate to be produced at ABT’s El Moto tungsten project, located near Abenójar in the province of Ciudad Real, Spain.

Under the terms of the agreement, Traxys has been appointed the exclusive offtaker for ABT’s tungsten concentrate produced at El Moto for a minimum term of ten years from the commencement of commercial production.

Traxys will be responsible for the marketing, logistics and distribution of the concentrate to industrial consumers across the world. Pricing is market-based and linked to the internationally recognised ammonium paratungstate (APT) price index.

Tungsten is recognised by the European Union and allied nations as a critical and strategic raw material, indispensable to the aerospace, defence, energy transition and precision industrial tooling sectors.

With China accounting for around 80% of global supply and having tightened its export controls, secure sources of tungsten from outside China have become a priority for Western industrial consumers.

El Moto has been designated a Strategic Project under the EU Critical Raw Materials Act and is one of the largest tungsten development projects outside China. Construction of El Moto commenced in 2026, with first production targeted for the first quarter of 2029.

Based on its 2026 Definitive Feasibility Study, the Project is expected to produce in excess of 4000 t of contained WO3 per year in concentrate at steady state. Should ABT develop downstream processing capacity in the future, it has flexibility to carve out certain production from the agreement to directly supply this operation.

Mark Kristoff, Chief Executive Officer of Traxys, said: “This long-term agreement with Abenójar Tungsten reinforces Traxys’ commitment to securing responsibly sourced critical raw materials for our global industrial customer base. By partnering with a high-quality European deposit such as El Moto, we are ensuring that our customers in critical manufacturing, energy, and superalloy applications have dependable, long-term access to tungsten supply from secure, stable jurisdictions such as Spain.”