Almagro lies within small Paleozoic mountain ranges, with some reserves of shallow creeks, including the Pellejero and de Cuetos. It also lies within a volcanic zone ("Cerrro de la Yezosa"), which lies upon a quartzite massif. It makes the zone particularly unique, together with that of the zones of Olot and Cabo de Gata, in the sense that it is one of the few important zones of volcanic origin in the Iberian Peninsula. An International Festival of Classical Theater has also been celebrated here annually since 1978.