Overview

• Highfield Resources confirmed this week that China Minmetals and its unit Qinghai Salt Lake will not proceed with the roughly $300 million non-binding investment for Mina Muga.
• The Guardia Civil’s UCO traces the origins of the alleged ‘Cerdán’ network to the project, with Supreme Court judge Leopoldo Puente leading the investigation and Santos Cerdán in provisional detention.
• Navarra’s high court annulled the mine’s authorization for procedural ‘fragmentation’ and gaps in assessing geological risks and worker safety, and the ruling has been appealed by Spain, Navarra, Aragón and Geoalcali.
• UCO evidence cited includes emails tying project actors to political intermediaries, an intercepted audio in which Koldo García vowed to “fulfill what I promised” on authorizations, and financial flows through Noran Coop, including €360,165 from Servinabar and €177,000 to Antxon Alonso.
• Geoalcali rejects any link to kickbacks, frames the court decision as a procedural interpretation, says it did not award construction to the Servinabar-Acciona UTE, and reports it is exploring alternative financing.