Elementos, a tin exploration and development firm, has initiated a non-binding term sheet to potentially acquire up to a 50% interest in Iberian Smelting for €3.2 million (A$5.18 million).
The transaction, facilitated through Elementos’ wholly owned Spanish subsidiary, aims to secure a substantial stake in the tin smelting and refining facility located near Robledallano in Spain’s Extremadura Region.
This agreement outlines a two-stage option for Elementos over a five-year term, allowing the company strategic flexibility.
As part of the deal, Elementos plans to inject €2 million for working capital and infrastructure enhancements, including the installation of an additional vacuum smelter to boost operational efficiency and overall throughput at the facility.
This strategic move is expected to bolster Elementos’ position in the European tin market and grant access to a fully licensed operational facility. Previously utilized for lead shot and battery recycling, the smelter was acquired by CRM in June 2021 and holds all necessary environmental, waste, emissions, and operational permits.
Elementos’ Managing Director, Joe David, remarked, “We are excited to announce this agreement with CRM Synergies and the pathway to acquiring a 50% ownership stake in Iberian Smelting SL and the Robledallano Smelting and Refining Facility.”
“CRM is a well-established global tin company known for its responsible production of tin ingots and soldering products, serving major manufacturers in automotive, electronics, and aerospace industries. Their established sales network across Europe, North America, and global markets will be accessible to Elementos.”
David emphasized, “The completion of this transaction will deliver significant economic, strategic, and operational benefits to our company.”
