Atalaya Mining said on Monday that Proyecto Touro, its development-stage copper project in Galicia, Spain, has been designated a Strategic Project by the European Commission under the EU's Critical Raw Materials Act (CRMA).
The Spain-focused copper producer said the designation, granted through local entity Cobre San Rafael, recognises Touro's role in securing a sustainable European supply of copper, a metal the EU has listed as critical to electrification, energy infrastructure and industrial development.
The project had already been declared a strategic industrial project by the regional government of Galicia, the Xunta de Galicia, in 2024, a status aimed at supporting new investment and economic development in the region.
Touro is Atalaya's main development pipeline asset outside its producing Spanish mines, Cerro Colorado and Proyecto Riotinto, and its environmental impact statement has been described by regional officials as nearing completion, a milestone the company has said it expects to finalise soon.
"This declaration by the European Commission reinforces our confidence in Proyecto Touro, which has been designed to be a modern and sustainable copper operation that can help provide Europe with reliable access to critical raw materials," said chief executive Alberto Lavandeira.
Lavandeira added that the Xunta de Galicia has also launched a public tender for mining concessions, a move he said underlines its commitment to mining investment in the region.
The CRMA, in force since 23 May 2024, aims to strengthen the EU's critical raw materials supply chains and reduce reliance on external sources; the European Commission received 102 applications across 18 member states in its second call for Strategic Projects, which closed on 15 January, of which 92 were assessed against criteria including security of supply, technical feasibility and environmental, social and governance standards.
Lavandeira said the company now looks forward to finalising the environmental approval process for Touro, which he believes is close to completion.