A major lithium deposit discovered near the Portuguese border in Castilla Leon could power Spain’s energy future.
Found within the Conchas Project by Berkeley Energy, the 31 square kilometre site has been hailed financially as a highly significant resource that, if mined efficiently, could meet Spain’s lithium needs, reducing the country’s reliance on imports. Currently, most of the lithium Spanish battery manufacturers use comes from South America.
The project, which is still in feasibility studies, promises significant economic growth for the region but faces hurdles. Environmental groups warn that extraction could harm water resources and biodiversity, and they are calling for strict regulations to mitigate damage. Mining has not begun yet while studies continue.
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Chinese firms take interest Spanish lithium mines
Meanwhile, the discovery has sparked the interest of China. Lithium, vital for batteries in electric cars and devices, is a cornerstone of Beijing’s industry today. Chinese companies have already invested heavily in Latin America, buying up stakes in Chile’s SQM, Argentina’s Salar Centenario-Ratones (producing 24,000 tonnes of lithium carbonate), and Bolivia’s Uyuni plant. In 2023, Chinese company Yahua bought 15,000 tonnes of processed lithium from Brazil’s Sigma Lithium, tapping into a reserve of more than one million tonnes.
Now, China has taken a fancy to Spain’s lithium deposits. But is selling to China what the locals want? The Chinese owners of a mine in Chile’s Atacama are said to have been putting a strain on environmental concerns after doubling output. As Spain weighs economic gains against environmental costs, the question remains whether the lithium will become a national manufacturing resource or another Chinese one.