Atalaya Mining, the FTSE 250 copper producer, has secured a coveted EU Strategic Project designation for its Proyecto Touro copper development in northwest Spain.
The European Commission granted the status under the Critical Raw Materials Act (CRMA), which entered into force in May 2024 and aims to strengthen the bloc's access to materials essential for the green energy transition.
Copper was included on the EU's list of strategic raw materials on the grounds that it is critical to electrification, energy infrastructure and industrial development.
The CRMA designation follows Proyecto Touro's declaration as a strategic industrial project by the Xunta de Galicia in 2024, meaning the project now holds strategic status at both regional and EU level.
Chief executive Alberto Lavandeira said the Commission's decision reinforces the company's confidence in Touro, which has been designed as a modern and sustainable operation.
He added that the environmental approval process is now close to completion.
The second round of CRMA applications attracted 102 submissions across 18 EU member states, of which 92 were assessed against criteria including security of supply, technical feasibility and ESG standards.
