€400 million investment puts Aljustrel at forefront of Portugal’s mining sector

A €400 million investment in industrial expansion and renewable energy has been unveiled at Portugal’s Aljustrel mine, with Prime Minister Luís Montenegro hailing the project as a major step towards strengthening the country’s economic sovereignty and strategic autonomy.

The project, dubbed Feeding the Global Energy Transition, was inaugurated today at the copper and zinc mine in Aljustrel, in the district of Beja.

Developed by ALMINA – Minas de Portugal over the past five years, the initiative has received around €128 million in funding from Portugal’s Plan for Recovery and Resilience (PRR).

The prime minister described the investment as vital for Portugal’s future.

“We are laying the foundations for our future and building a modern, productive and sovereign Portugal,” he said after touring the underground mine alongside Economy Minister Manuel Castro Almeida and Environment and Energy Minister Maria da Graça Carvalho.

The project significantly expands the mine’s processing capacity, allowing six million tonnes of copper and zinc ore to be treated annually. It also includes a new solar photovoltaic facility capable of generating more than 40,000 megawatt-hours of electricity each year for self-consumption.

ALMINA chairman Humberto Costa Leite said the investment places the company “at the forefront of modern mining” and underlined the strategic importance of minerals to the global green transition.

“There is no energy transition without a digital revolution, and there is no digital revolution without mining,” he said. “Mining is kilometre zero of modern life, and that kilometre zero has a historic address: Aljustrel.”

The company says the upgraded processing plant will enable copper and zinc ores to be treated simultaneously, improving metal recovery rates and creating additional value while helping offset volatile commodity prices and currency fluctuations.

Looking ahead, ALMINA is awaiting environmental approval to launch a further €150 million investment over four years to develop the Gavião copper deposit. It also plans to begin experimental exploitation of the Albernoa zinc and copper deposit, where €10.8 million has already been invested in exploration.

Costa Leite criticised regulatory delays, warning that the company has already lost more than a year waiting for approval to move forward with Albernoa.

“We need the state to be a facilitator, not an obstacle to wealth creation,” he said, calling for faster licencing procedures and greater support for mineral exploration.

The executive also highlighted the sector’s energy challenges – noting that ALMINA faces monthly electricity costs exceeding €2 million – and urging the government to adopt long-term energy policies to support Portugal’s mining industry.

The Aljustrel expansion comes as demand for copper and zinc continues to rise worldwide, driven by renewable energy projects, electric vehicles and digital infrastructure, and positioning Portugal as an increasingly important supplier of critical raw materials for Europe’s energy transition.

Source: LUSA/ noticiasaominuto.com

Natasha Donn

Journalist for the Portugal Resident.