Portugal's Strategic Mineral Assets: Tungsten, Copper, and Lithium Growth Amid Global Demand
Tungsten prices surged 550% since December 2025 due to demand from the USA and NATO for weaponry. The Panasqueira mine, owned by Almonty Industries, is positioned to earn US$130 million in 2026. Portugal's copper industry generates annual revenues between US$1.4 and 1.8 billion, with the Neves Corvo mine contributing to stability in sales. Lithium projects in northern Portugal are set for production by early 2028, with Barroso’s deposit estimated at 39 million tonnes. Environmental protests are ongoing, seeking concessions from mining companies.
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Tungsten prices have increased by 550% since December 2025, driven by U.S. and NATO military needs. The Panasqueira mine is one of the few non-Chinese controlled tungsten sources, currently owned by Almonty Industries, projected to earn US$130 million in 2026.
Portugal's copper sector, centered at the Neves Corvo mine, generates US$1.4 to 1.8 billion annually. Lithium production is anticipated to begin in early 2028 at the Barroso site, with an estimated 39 million tonnes of ore. Environmental protests continue as communities seek concessions regarding land use and environmental protection.
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