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With proven reserves of 12 million tons, valued atvalued at 660 million euros

 

  • The initial forecast is to extract around 200,000 tons of feldspar per year, rising to 500,000 tons per year. The feldspar, once processed and refined, could reach a market price of 130 €/tonne.
  • Feldspar is a strategic mineral for the manufacture of ceramic tiles and in the glass sector, among other applications.
  • Domestic feldspar production (more than 900,000 tons) cannot supply the industry’s demand (almost 3.5 million tons), so the Silán deposit is configured as an alternative to imports, being very likely that the planned production will be destined for domestic consumption, although other markets are not ruled out.

URBAS -a global company specialized in sustainable infrastructure and construction, real estate development and renewable energies- has received the green light from the Xunta de Galicia for its open-pit feldspar deposit in Silán, in the municipality of Muras, in the province of Lugo.

Specifically, URBAS has obtained a resolution of approval for its mining project for the extraction of sodium and potassium feldspar, a strategic mineral in the tile and ceramic industry. This means that the exploitation has obtained all the permits, licenses and authorizations from the Xunta de Galicia, which confirm the viability and sustainability of the project. Before the start of the activity, the previous communication will be made to the Concello de Muras, providing the complete project and all the favorable reports received.

The URBAS deposit at Silán is the second largest feldspar mine in Europe and the first in Spain, with proven reserves of 12 million tons valued at 660 million euros, reserves that could be substantially higher according to the latest prospecting and drilling studies carried out.

The extraction of feldspar will begin shortly in “Ampliación a San Acisclo”, one of the five concessions owned by URBAS with saleable reserves of more than one million tons. The forecast is to extract in this first concession around 200,000 tons of feldspar per year, which will be increased successively and could reach 500,000 tons through the exploitation of other mining fronts and the opening of the other four adjacent concessions also owned by URBAS.

Once treated and refined, this material could reach a market price of 130 €/ton. URBAS plans to progressively exploit the deposit, which guarantees recurring cash generation, as well as increasing its processing capacity in the search for greater profitability and the achievement of higher added value for the products sold.

URBAS will take advantage of synergies with its construction company MURIAS, which will participate with its specialized technical personnel and machinery in the exploitation of the deposit. In addition, its entry into operation will contribute to stimulate the labor market in the region with the generation of more than twenty jobs.