Recursos Minerales de Galicia, S.A., the developer of Mina Doade, has incorporated Recusos de Galicia (RDG) into its shareholding structure. This operation will enable the company to move forward with its underground mining project for the extraction of lithium and feldspar minerals in Beariz (Ourense), which has been declared strategic by the European Union.
RDG is joining the Board of Directors of Recursos Minerales de Galicia, S.A. The Galician utility is contributing €750,000 through a 10% capital increase, bringing the total share capital to €7,500,000. The remaining 90% continues to be held by Grupo SAMCA.
With the incoporation of this public-private partnership, the Mina Doade promoter gains an investor commited to the project and the company’s strategic direction. According to José Manuel Saldaña, CEO of Grupo SAMCA: “We share the vision that a territory’s mineral resources should generate prosperity within its surroundings. For over 100 years, our mining projects have created shared value and social impact in the areas where we operate”.
“This agreement will allow Grupo SAMCA to strengthen its commitment to the use of Galicia’s raw materials, which are poised to become a key pillar of the European Union’s economic security, ” Saldaña added.
“With this alliance, “ stated RDG’s CEO Emilio Bruquetas, “we are posiotioning Galicia to make progress in achieving strategic autonomy.” He continued: “We have found in Grupo SAMCA a partner who understands and shares our vision regarding natural resources, their sustainable development, and the need to reinvest their inherent benefits in the territory”.
“At present, Europe faces a deficit in critical mineral resources and is almost entirely dependent on external supplies of such minerals. To the extent that we are able to develop strategic projects within our territory, as is the case here, we enhance our autonomy. Galicia becomes a steward of highly valuable resources for the green transition and the future of industry,” Bruquetas concluded.
