Water is one of the receptors most affected by the impacts caused, especially in the case of mining sulphides and, to a lesser extent, of coal. Acid Mine Drainage (AMD) is the main problem associated with these mining operations, producing extremely high impacts, and in many cases irreversible impacts, until now. A new concept of mining can make this activity compatible with the environmental preservation and also to the recovery of the environment affected by the old mining operations that today are in the process of reopening. This new concept implicates the paradigm of Circular Mining as a derivative of the concept of Circular Economy, considered as a strategy that aims to reduce both the entry of materials and the production of virgin waste, closing the “loops” or economic and ecological flows of resources. The present work discusses the paradigm of Circular Mining, focused on the Iberian Pyrite Belt, one of the most paradigmatic metallogenetic regions in the world. Based on some examples, expeditious calculations show the possibility of recovering base metals as well as strategic elements from acid mine drainage, thus obtaining important economic assets.