Mina El Moto actúa como refugio en su debut en la Bolsa de Londres

Spanish mining company Abenójar Tungsten saw its shares jump by nearly 8% during its debut on the London Stock Exchange. Gonzalo García San Miguel, CEO and main shareholder, opened trading at the London Stock Exchange, with the company's mineral exploration project, Mina El Moto, in Ciudad Real. The firm valued its capital at over 600 million euros through an initial public offering of shares priced at 110 peniques each, with current prices around 110 peniques.

Emiliano García Page, president of Castilla La Mancha, was expected to attend, but a train accident in Toledo prevented his presence. Both García San Miguel and Julia Hoggett, chair of the London Stock Exchange, offered their condolences to the victims of the train incident. García San Miguel and Hoggett expressed their condolences for the victims.

The García San Miguel family retains their controlling stake in Abenójar Tungsten, while investors now hold around 25% of the company's capital. The appeal of the Spanish mining firm for investors is its potential to act as a safe haven or diversification, especially in volatile sectors like technology. The European Commission has deemed Mina El Moto a strategic project, as tungsten is crucial for producing armaments and other high-heat resistant equipment.

The 170 million euros raised during the IPO, coupled with a Deutsche Bank loan, will be used to build the mine, which could start extracting metal in 2029. The rise in Abenójar shares stands in contrast to falls in the Ibex and particularly in U.S. technology stocks.