Venture Minerals Focusing on Mount Lindsay Tin-Tungsten Project

Venture Minerals Limited has initiated an underground feasibility study at its Mount Lindsay Tin-Tungsten Project in Tasmania with the aim of further developing its tin and tungsten resources.

Tin, an EV metal classified as an important mineral by several countries around the world, is currently trading at an all-time high of $37,500 per metric tonne, four times the $9,500 per metric tonne copper price. The APT price for tungsten is $310 per metric ton unit, an increase of about 80% since the beginning of 2016.

Mount Lindsay is already one of the world's largest undeveloped tin projects, containing over 80,000 tonnes of tin metal. The same mineralized body also hosts a globally significant tungsten resource, containing 3.2 million metric tonne units of tungsten.

About 100 jobs are expected to be provided at the peak, but it's unclear if or when production will resume at the newest West Coast mine. Operations at Venture Mining's Riley iron ore mine remain suspended as iron ore prices continue to bump up at low levels.

The Riley iron ore mine near Tullah made its first and, so far, only shipment in September before quickly suspending operations, which Venture Mining continues to describe as a temporary halt, citing a sharp drop in prices, reduced demand for lower grade ore and rising transportation costs.

Perth-based Venture Mining said in its September quarterly report, "It is waiting for market conditions to improve before restarting operations."

"While this was a difficult decision, the board acted in the best interest of the company by suspending activity, seeing the ongoing COVID-19 and political fallout causing volatility and broader market impacts across the iron ore and shipping markets." When asked about the worker situation, a spokesperson for the company said the majority of Riley's workforce has been resolved, and Venture understands that most workers have been redeployed to other locations.

They said, "Some Venture employees in Tasmania are still working at the Riley site, and others have been transferred to Venture's tin exploration project at Mount Lindsay."

Mount Lindsay Tin-Tungsten Project is a precious project that Venture Minerals considers to be the company's flagship asset. The company's quarterly report states that an underground mine feasibility study has been undertaken and exploration successes have been achieved, including a large mineralized sillimanite along the Renison Bell tin mine.

It said the study involves a mine with low environmental impact, focusing on high-grade tin and tungsten zones within the existing Mount Lindsay resource.

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