Sep. 24, 2026 07:55AM PST
The London Stock Exchange has seen a revival in 2026, recording approximately US$686 million in IPO proceeds so far this year.
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Spanish mining developer Abenójar Tungsten is reportedly exploring an initial public offering in London to fund its US$241 million El Moto underground tungsten and gold project.
According to Bloomberg, the company has engaged Bank of Montreal (TSX:BMO), Deutsche Bank (NYSE:DB), and Peel Hunt to navigate the potential listing, with an official announcement expected in the coming weeks.
Founded by the García San Miguel mining family, Abenójar Tungsten officially inaugurated construction at the El Moto site last week following a 14-year preparation period. The underground operation is designed to produce 4,227 tons of tungsten concentrate annually over an initial 18-year mine life, with commercial production targeted for the first quarter of 2029.
“Above all, this is a mine for the people who live here,” CEO Gonzalo García San Miguel said during the September 18 inauguration ceremony. “Europe needs tungsten and depends almost entirely on others to obtain it. Here, in Abenójar, we have part of the answer. And thi...