Eurobattery Minerals leadership and mining crisis

Eurobattery Minerals and its subsidiary, Tungsten San Juan, have entered a period of significant instability following legal and leadership crises involving CEO Roberto García Martínez. Martínez was convicted in Spain of fraud related to a 2011 mining investment in Sierra Leone, resulting in a two-year prison sentence and a 3.46 million euro liability. He is also under investigation by the Swedish Economic Crime Authority for alleged aggravated insider trading.

The scandal triggered the immediate resignation of chairman Jan-Olof Arnbom and the termination of liquidity provider Mangold Fondkommission AB as mentor. Consequently, shares of Eurobattery Minerals were suspended on the Stockholm Stock Exchange.

As a direct result of these developments, Tungsten San Juan announced a “temporary suspension” of its tungsten mining operations in A Gudiña, Ourense. This suspension coincides with the A Gudiña City Council halting activity until the company provides documentation required to secure a municipal opening license. The company stated the pause is intended to ensure “strict compliance with legal and regulatory obligations.”