Ambulances and helicopters are transporting the wounded to nearby hospitals.
One of the Spanish public broadcasters reports that dozens of people remain hanging on the 15-meter high chairlift waiting for rescue.
An eyewitness told local media that it looked like the cable had snapped, the chairs had jumped, and people had been thrown from the elevator.
The cause of the cable break is still unknown.
Images on social media seem to show one of the lifter’s flywheels with spokes.
A video released by Spain’s Civil Guard shows the helicopter flying past the scene before landing to allow emergency workers to disembark.