Name of the Project
Borralha tungsten project.

Location
Salto parish, Montalegre municipality, Vila Real district, northern Portugal.

Project Owner/s
Canada-based mining company Allied Critical Metals Inc.

Project Description
The March 2026 Borralha preliminary economic assessment (PEA) has outlined a capital-efficient underground tungsten development project, demonstrating strong economic returns across a range of tungsten price assumptions and significant leverage to current market prices.

The project entails the development of the Santa Helena Breccia deposit as an underground mining operation.

The initial PEA mine plan outlines an 11-year operation supported by life-of-mine average production of about 1 708 t/y tungsten, a nominal processing rate of 1.4-million tonnes a year and an average mill feed grade of about 0.20% tungsten.

Mining will mainly use longhole open stoping with cemented paste backfill, with drift-and-fill applied in narrower, higher-grade zones. Processing will include three-stage crushing, dense-media separation preconcentration, grinding, gravity concentration, magnetic and electrostatic separation, and flotation to produce a wolframite concentrate grading about 65% tungsten. 

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
At a tungsten price of $1 000/metric tonne unit (mtu) tungsten, the project has an after-tax net present value, at an 8% discount rate, of $346.6-million and an internal rate of return of 48.8%. Payback is about 4.2 years from the start of construction, or about 2.2 years from the start of commercial production.

Capital Expenditure
Initial capital expenditure is estimated at $91.5-million.

Planned Start/End Date
Not stated.

Latest Developments
The project has received a favourable environmental-impact declaration in Portugal, and a fully funded 20 000 m drill programme is under way. 

Key Contracts, Suppliers and Consultants
Specific construction, supply or mining contracts have not yet been stated as yet.

Contact Details for Project Information
Allied Critical Metals Inc, tel +1 403 410 7907 or email info@alliedcritical.com.