Cobre San Rafael

What Cobre San Rafael does

Cobre San Rafael S.L.U. is a Spanish private copper mining project company developing the historic Touro-O Pino mine in Galicia, targeting 30,000–35,000 tonnes of copper output annually over a 15+ year operational life. The company is a partnership between Explotaciones Gallegas (a Galician concession holder belonging to 100+ year-old construction group Francisco Gómez) and Atalaya Mining (an AIM-listed copper producer), with Atalaya contributing technology and progressively increasing its equity stake as project milestones are met. The core product is copper concentrate sold B2B to industrial smelters and refiners, with approximately 100,000 tonnes of concentrate planned for export annually from Galician ports.

The technical approach combines open-pit extraction with transfer mining (minería de transferencia), a phased backfill method recognized internationally as a Best Available Technique that eliminates residual voids or pit lakes at closure, with a closed-loop water circuit and dedicated Water Treatment Plant ensuring zero discharge to the Ulla river system. Ore processing is planned to use Atalaya Mining's proprietary E-LIX I+D+I hydrometallurgical plant for copper, cobalt, and zinc recovery. The project carries Bureau Veritas sustainable mining certification (UNE 22480/22490), EU Taxonomy alignment, and a multi-year environmental monitoring dataset (1,117 samples, 52,409 records since 2017) analyzed by GEAMA at the Universidad de A Coruña.

The business model is a pre-operational, commodity-revenue industrial project: revenue will come from copper concentrate sales at market prices with no publicly disclosed pricing. The project is also heavily positioned as a critical raw materials supplier for Europe's energy transition, targeting industrial buyers serving wind, solar, EV, and grid applications. GTM is enterprise B2B direct sales to copper processors; the company is currently in development/pre-operational phase with 9 employees, transitioning to 400+ direct jobs and 1,200+ indirect/induced positions during exploitation. Cumulative impact over project life is projected at €2.5B+ to Galician GDP, €216M+ in fiscal contributions, and €500M+ in local supplier spend.

Name

Cobre San Rafael

Legal name

COBRE SAN RAFAEL S.L.U

Website

https://cobresanrafael.gal

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

Cobre San Rafael is a Spanish private copper mining project company developing the Touro-O Pino mine in Galicia, partnered with Atalaya Mining, targeting 30,000–35,000 tonnes of annual copper concentrate output for European industrial buyers serving the energy transition.

Ownership category

akta.pro rank

Product category

Copper Mining

NAICS

Copper, Nickel, Lead, and Zinc Mining (212230), Copper, Nickel, Lead, and Zinc Mining (21223)

SIC

Metal Mining (1000)

akta.pro primary industry

Copper Ore Mining (Open-Pit & Underground) (IMAKADAB)

akta.pro secondary industries

Copper Exploration & Resource Development (IMAKADAA), Copper Concentration (Crushing, Grinding, Flotation) (IMAKADAC), Copper Mine Engineering, EPC & Expansion Projects (IMAKADAM), Copper Tailings, Waste & Water Management (IMAKADAL), Copper By-Products Recovery (Molybdenum, Gold/Silver, Sulfuric Acid) (IMAKADAH)

Keywords

• Copper mining
• Copper concentrate
• Mineral extraction
• Sustainable mining
• Ore processing

Headquarters

HQ city

Touro

HQ country

Spain

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Technology or R&D

Revenue model

1. Copper Concentrate Sales: Revenue generated from the extraction and sale of copper concentrate produced at the Touro-O Pino mine. The project targets production of 30,000–35,000 tonnes of copper annually. Approximately 100,000 tonnes of copper concentrate are expected to be exported annually via Galician ports to customers in the copper processing industry.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Cobre San Rafael operates the Touro-O Pino copper mining project in Galicia, Spain, extracting and processing copper ore using transfer mining (miner\u00eda de transferencia) and froth flotation concentration to produce copper concentrate. The project targets 30,000\u201335,000 tonnes of copper annually over an initial 15+ year mine life, with approximately 100,000 tonnes of copper concentrate exported annually via Galician ports to industrial copper processing buyers.

Product overview

Cobre San Rafael operates as a copper mining project combining primary extraction operations with environmental restoration and sustainable mining technologies. The core offering is copper production at the Touro-O Pino mine using transfer mining methods, complemented by the E-LIX hydrometallurgical processing plant technology from Atalaya Mining. Additional modules include the Water Recovery Plan (Plan de Recuperación Integral de Aguas) with its Water Treatment Plant, the interactive Virtual Water Quality Map for environmental monitoring, and the comprehensive TERRAS Social Responsibility Program spanning water conservation, heritage protection, economic development, social initiatives, and safety. The project aims to produce approximately 30,000 to 35,000 tonnes of copper annually over a 16-year initial operational period.

Differentiator

Problem solved

Functional benefit

Products and services

• Copper Mining Operations (Touro-O Pino)

Quantifiable outcome

• pH values doubled in water quality monitoring points (2022–2024)
• +6 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature7 records

Partnerships

18 partnerships are on record, tiered minor, core, major and supporting.

• AMINER (Asociación Española de Minería Metálica)minorOthers · 1 March 2026Cobre San Rafael joined AMINER, the Spanish Metal Mining Association, in March 2026. The association represents 90 member entities in Spain's metal mining sector and promotes modern, responsible mining aligned with European industrial and energy challenges. Membership enables knowledge sharing and best practice exchange.
• Parquistas de Carril OPP89 (Organización de Productores de Carril)coreStrategic or Co-development Partner · 1 January 2025Collaboration renewed until 2027 with mussel farmers' organization to protect shellfish production in the Ría de Arousa. Focuses on studying the ouxa ray (Myliobatis aquila) predator threatening shellfish banks, using AI-powered underwater cameras via Aquacorp. Also includes water quality monitoring campaigns for 2026–2027 and support for authorized predator control programs with scientific evaluation.
• Atalaya MiningcoreStrategic or Co-development PartnerAtalaya Mining is the industrial partner for the Cobre San Rafael project, providing technology and know-how for copper mining operations. Listed on the London Stock Exchange AIM (AIM), with major shareholders including Urion Holdings (22%), Cobas Asset Management (14%), and Ithaki (6%). Led by CEO Alberto Lavandeira, who has designed, developed, and operated five mines including Riotinto in Huelva. Atalaya will progressively increase its participation in the project as milestones are met, guaranteeing economic, technical, and environmental solvency.
• Explotaciones Gallegas (Grupo Francisco Gómez y Cia, S.L.)coreStrategic or Co-development PartnerExplotaciones Gallegas S.L. is the Galician company that holds the mining concession for the Touro-O Pino site. It belongs to Grupo Francisco Gómez y Cia, S.L., a 100+ year-old construction and public works company. The company has maintained the concession since 1986, currently for aggregate production. Explotaciones Gallegas provides the land, concession rights, and local expertise, while Atalaya Mining contributes technology and operational experience.
• ASIME (Asociación de Industrias del Metal y Tecnologías Asociadas de Galicia)majorGTM or Marketing PartnerASIME is the Association of Metal Industries and Associated Technologies of Galicia. Cobre San Rafael co-organizes industry events with ASIME including the 'Minería, industria y progreso' jornada in Vigo and A Coruña, bringing together institutional, business, and technical representatives to discuss the strategic role of natural resources in Galicia's economic reactivation and ecological transition.
• Rede de Estacións Biolóxicas da Universidade de Santiago de CompostelacoreTechnology or IntegrationNetwork of Biological Stations of the University of Santiago de Compostela (USC) performs ecological status monitoring of the Ulla river and its estuary, evaluating living organisms as indicators of water quality. Contributes to the TERRAS do Ulla environmental program.
• Estación de Bioloxía Mariña da Graña (USC)coreTechnology or IntegrationMarine Biology Station of the Graña (USC) has installed two probes for continuous monitoring of chlorophyll levels in the water, as part of the monitoring network in the Ría de Arousa in collaboration with Parquistas de Carril OPP89.
• GEAMA – Grupo de Ingeniería del Agua y del Medio Ambiente (Universidade da Coruña)coreTechnology or IntegrationWater and Environmental Engineering Group of the University of A Coruña analyzed environmental monitoring data (1,117 samples, 52,409 records since 2017) that served as the basis for the new water management system design in the project. Also performs ecological status assessments.
• Escola de Enxeñaría de Minas e Enerxía da Universidade de VigosupportingStrategic or Co-development PartnerSchool of Mining and Energy Engineering of the University of Vigo is one of the three Galician universities collaborating on the project, contributing expertise in mining engineering and energy systems for the project design.
• CSIC – Instituto de Investigaciones Marinas de VigocoreTechnology or IntegrationCSIC Marine Research Institute of Vigo conducted the AMBARULLA study (2020) analyzing the chemical composition of the Ulla river basin and its estuary. Determined that the historic mine has no effect on water quality in the Ría de Arousa, located 75 km from the mine site.
• IGME-CSIC – Instituto Geológico y Minero de EspañasupportingTechnology or IntegrationSpanish Geological and Mining Institute (IGME-CSIC) scientist Dr. Roberto Lorenzo Rodríguez Pacheco provided the keynote at COITGME technical forum on the GISTM (Global Industry Standard for Tailings Management), contributing technical expertise on tailings management for the project.
• Facultad de Geología de la Universidad de OviedosupportingStrategic or Co-development PartnerGeology Faculty of the University of Oviedo is one of the academic institutions collaborating on the project, contributing geological expertise and research to the project design.
• Universidad de SalamancasupportingStrategic or Co-development PartnerUniversity of Salamanca collaborated on the Natural Capital Valuation report of the Touro mine project, presenting results at the Galicia Cámara Minera event. The study confirmed a positive natural capital balance using CICES classification methodology.
• AquacorpsupportingTechnology or IntegrationAquacorp is the technology partner providing AI-powered underwater camera systems for the mussel bank monitoring program with Parquistas de Carril OPP89, enabling advanced detection and tracking of predators (ouxa rays) in shellfish areas.
• AGQsupportingTechnology or IntegrationAGQ is listed among the technical collaborators supporting the Cobre San Rafael project with environmental and analytical services.
• Valora ConsultoressupportingOthersIndependent consulting firm that produced the socioeconomic impact study and fiscal contribution report for the project, estimating €2,542.61M GDP impact, €216M+ fiscal contribution, and 1,583–1,963 FTE jobs in Galicia.
• ESG ValuesupportingOthersESG Value collaborated with the University of Salamanca on the Natural Capital Valuation report, contributing ESG valuation methodology and expertise to assess the project's environmental and ecosystem service impacts.
• Cámara Oficial Minera de GaliciasupportingOthersOfficial Chamber of Mining of Galicia organized the 'Galicia, clave en la autonomía europea de minerales' event where Cobre San Rafael presented its natural capital valuation results. The Chamber represents mining interests in Galicia.

Scale indicators17 records

Recent moves6 records

Expansion highlights9 records

Others

• Aurubis: European copper smelter and recycling company. Comparable as a downstream European copper processor that could be a potential offtake customer for Cobre San Rafael's copper concentrate, providing insight into European copper supply chain dynamics.

Direct peers

• Atalaya Mining: AIM-listed copper producer and strategic partner to Cobre San Rafael. Operates the Riotinto copper mine in Huelva, Spain and Proyecto Touro in partnership. Most directly comparable as a Spanish-focused mid-tier copper miner with multi-asset exposure and a track record of designing and operating five mines.
• Cobre Las Cruces (First Quantum Minerals): First Quantum Minerals' wholly-owned copper operation in Seville, Spain. One of the few active large-scale copper mines in Spain, using hydrometallurgical processing. Directly comparable as a Spanish copper producer with similar regulatory and social license dynamics.
• Minas de Aguas Teñidas (MATSA): Spanish copper and zinc mine located in Huelva, owned by Mubadala and Trafigura. Operates an underground polymetallic mine producing copper, zinc, and lead concentrates. Comparable as a Spanish-based base metals miner with multi-metal production and similar permitting context.

Broad incumbents

• First Quantum Minerals: Global copper producer with European mining assets (Cobre Las Cruces in Spain) and a portfolio of large-scale copper operations in Africa and Latin America. Comparable as a copper-focused major with Spanish exposure and similar strategic interest in European copper supply security.
• KGHM Polska Miedź: Polish copper and silver producer and one of Europe's largest copper miners. Comparable as a European-based integrated copper producer with mine-to-metal operations, providing a relevant benchmark for European copper asset valuation.
• Boliden: Swedish mining and smelting company producing copper, zinc, lead, and nickel from Nordic mines. Comparable as a European integrated metals producer with multiple mines and smelters, focused on sustainable mining and ESG positioning.
• Lundin Mining: Mid-tier Canadian diversified base metals producer with copper, zinc, and nickel operations including Neves-Corvo in Portugal. Comparable as a mid-tier polymetallic miner with European operations and similar copper concentrate production model.
• Antofagasta PLC: London-listed copper mining group with major operations in Chile. Comparable as a pure-play copper producer with significant reserves, similar commodity exposure, and a focus on long-life, low-cost copper assets.

Emerging players

• Sandfire Resources: Australia-listed copper producer with European operations (Matsa mine and Motheo copper mine in Botswana). Comparable as a mid-tier copper miner with a growth pipeline and focus on sustainable operations, providing a benchmark for emerging copper producers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/proxecto-touro-cobre-san-rafael

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cobre San Rafael