The situation of tungsten market can be concluded as follow:

Few deals could be seen in tungsten concentrate market, prices show downward trend; demand of ammonium paratungstate and ferrotungsten fatigued and weak, some manufacturers even choose to shut down the machine; scrap tungsten steel keeps stable after slightly decreasing. Tungsten suppliers and traders hold various attitudes toward market, some are panic while some choose to wait and see. Generally speaking, most people hold low-expectation toward tungsten prices at the end of 2013. Chinatungsten Online forecasts that individual tungsten products are going to shock down slightly in short term.

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Collected by Chinatungsten Online-As part of a larger effort to consolidate and enhance the industry, China’s jet engine makers, led by Aviation Industry Corp. of China (AVIC), are expected to invest 100 billion yuan (US$16 billion) in jet engine development in the near term, and perhaps up to 150 billion yuan (nearly US$24 billion) by 2015. According to Reuters, “Some Chinese aviation industry specialists forecast that Beijing will eventually spend up to 300 billion yuan (US$49 billion) on jet engine development over the next two decades.”

The mainstream scrap tungsten price maintains steady. The transaction price excluding tax of domestic blade is ￥171.00-￥174.00/kg; imported blade is ￥182-186/kg; scrap tungsten bit still concentrates on ￥187.00-￥191.00/kg scrap pure tungsten block is ￥208.00-￥213.00/kg.

The price of the content of scrap tungsten grinding material which is more than 70W is ￥1330.00/mtu, 50W-70W is ￥1270.00/mtu, 30W-40W is ￥1110.00/mtu. The prices above are steady. 10W-20W tungsten unit to ￥635.00/mtu while 8W-10W tungsten to ￥571.00/mtu.

Under restriction of both low demand and fund pressure, the market situation keeps low. At the end of year, scrap tungsten resource is short as well as demand, so traders are inactive to deal. Chinatungsten Online predict that scrap tungsten prices will keep steady generally but falling feebly.

In the international market, tungsten concentrate prices show its trend to move up constantly. By the night of 19th, the guiding price of MB ferrotungsten in warehouse Rotterdam maintains $43.00-44.00 per kilogram tungsten; the quotation of ammonium paratungstate keeps $304.00-330.00/mtu.

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Florida professional angler Brandon McMillan has reached agreement to endorse Elite Tungsten in 2013. This is notable as McMillan is a previous Tour and Everstart winner and will be fishing the FLW Tour fulltime in 2013. Known for his prowess with a flipping stick McMillan knows the value of quality tungsten and how it aids in detecting bites even in the heaviest of cover.

Late in November, the Toronto-based company announced that it resumed exploration on the property, which covers more than 125 square kilometres and has NI 43-101 compliant tungsten, tin and molybdenum resources. 

The base metals explorer has generated buzz since the news, with its stock up more than 10 per cent in the last month.

The phase 1 ground exploration program at the property will target the Tin Hill, Burnt Hill Brook Area, the Burnt Hill Mine Area, and the 2 1/2 Mile Brook Area, with two prospecting crews currently in the field. 

The company has said that the sampling program in each area has successfully located outcrop mineralization with quartz veining at each site. The mineralization found has been sampled, with more than 2,800 samples submitted to a lab for testing, with results to be released when available.

Cadillac has just raised $1.2 million under a recent financing to fund exploration, and plans to raise more funds next year. 

Burnt Hill currently holds 461,000 tonnes of total NI 43-101 compliant underground and open pit resources in the indicated category, grading 0.489% tungsten and 0.01% tin. The inferred category holds a total of 590,000 tonnes, grading 0.535% tungsten and 0.013% tin.

Cadillac also stands to benefit from its nickel and copper Thierry project in northwestern Ontario, which consists of the past producing Thierry Mine and hosts two NI 43-101 compliant resources at the Thierry Mine and the K1-1 deposit. 

In September, the company released results from its summer drilling program on the K1-1 open pit deposit, located about three kilometres from the Thierry Mine. It said the campaign was a success as each hole found mineralization outside of the current NI 43-101 compliant Whittle Pit model. The results included notable intersections such as 225 feet at 0.48% copper and 0.11% nickel, as well as 160.2 feet at 0.51% copper and 0.1% nickel.

Based on a preliminary economic assessment, the Thierry project was estimated to produce a total of 5.25 million tonnes per year, comprised of 3.85 million tonnes from open pit, and 1.4 million tonnes from the underground operation.

The report showed a pre-tax net present value of $380 million using a six per cent discount rate and an internal rate of return, on a pre-tax basis, of 19 per cent, with a life-of-mine NSR revenue total of $3.7 billion.

Total estimated capital costs were seen at $843 million, or $11.93 per tonne, with a payback period of four years from the start of commercial production on pre-production capital.

In the meantime, the junior base metals explorer is planning to continue drilling on the K1-1 deposit, with the aim of creating “substantially more tonnage” on the open pit deposit. The company is working to update the resource at K1-1, and is targeting "further positive results" outside the current pit, with mineralization extending at depth.

Brewster says that an additional 5,000 to 7,000 metres needs to be drilled before the K1-1 resource is updated, with around 3,000 metres having been drilled so far. Baseline monitoring and environmental work is also continuing at Thierry, but a partnership is necessary to take the project to the next level. 

Discussions for a potential partnership agreement at Thierry are ongoing. The Thierry Mine, which remains open at depth and to the west, has 8.8 million tonnes in estimated measured and indicated resources and 14.9 million tonnes of inferred, using a cut-off NSR of C$41/tonne. The open pit K1-1 deposit holds 53.61 million tonnes in the inferred category, at an NSR cut-off of C$11/tonne.

With Thanksgiving kicking off the holiday shopping season, TungstenWorld.com, the internet’s leader in tungsten wedding rings and tungsten carbide jewelry, is treating shoppers with Black Friday jewelry deals and Cyber Monday wedding specials on its amazing collection of tungsten rings and cobalt chrome bands. In addition to their holiday jewelry specials, Tungsten World has also added nearly 100 new accessories including watches, money clips, bracelets, pendants and cufflinks.

As holiday shoppers are getting excited in anticipation of Black Friday and Cyber Monday deals, Tungsten World has announced a Black Friday Blowout featuring the best wedding rings and jewelry specials available. Shoppers looking for great stocking stuffers and gifts for Christmas will be treated to tungsten and stainless steel pendants for the low price of $29, down from $69. And to really get shoppers excited, TungstenWorld has announced their best deal of the year. Starting on Black Friday, all orders of $100 or more are eligible for 25% off the entire order with promo code from tungstenworld.com. Shoppers can save on any of Tungsten World’s jewelry and tungsten rings including tungsten diamond rings, inlay rings and even watches and bracelets.

“Every year holiday shoppers are looking for only the best of the best when it comes to Black Friday deals and Cyber Monday specials, so we knew we had to go big on this one,” says Brett T, Tungsten World Operations Manager. “The deals we are running for these pendants mean you can check a few people off your list for less than $100, and 25% off everything including our most popular styles like diamond rings puts our sale up there with the best.”

In addition to the great Black Friday steals and Cyber Monday jewelry deals, Tungsten World is also adding nearly 100 new accessories this holiday season for customers to shop and save on. While it may not be the traditional season for weddings and wedding bands, customers can still treat the loved ones in their lives to a variety of stocking stuffers and great accessories including new styles of stainless steel and tungsten watches, money clips, bracelets, pendants, earrings and cufflinks. Keeping with Tungsten World’s tradition of durable and long lasting jewelry, all the the new styles feature the toughest in 316L stainless steel and high quality tungsten carbide. Many accessories also feature diamond stone or cubic zirconia inlay, solid gold accents or black and gold IP plating. To see all of Tungsten World’s newest products visit their Mens Jewelry & Accessories category with links to money clips, bracelets, earrings, pendants and stainless steel cufflinks for men.

“Adding the new accessories has been in the works for quite sometime and we’re pleased to have them up just before the holiday season,” says Brett. “During the holiday season, you may not be in the market for a wedding band but it’s the perfect time to get watches, pendants, bracelets, money clips and other accessories for your loved ones. Our new line is the perfect balance of fashion savvy combined with durable, long-lasting metals.”

As the perfect gift for the man or woman in your life, Tungsten World also offers free Priority shipping to anywhere in the US. Customers shopping the new line of accessories or any of TungstenWorld’s line of long-lasting gifts and products will be sure to have their gifts in time for Christmas at no extra charge.

About Tungsten World’s Tungsten Forever™ Wedding Bands:
Exclusive to TungstenWorld.com, Tungsten Forever™ tungsten rings and tungsten wedding bands, for men or women, are made from the highest quality tungsten carbide. Hand-finished and coming in a wide array of widths, styles and sizes, Tungsten Forever™ tungsten rings set the standard for durable men’s wedding bands guaranteed to last a lifetime. Coupled with Tungsten World’s industry-best Lifetime Replacement warranty and friendly customer service, customers purchasing Tungsten Forever™ tungsten rings and tungsten jewelry can be confident in knowing they’ve received the very best the internet has to offer.

Chenzhou Mining, China’s second-biggest antimony producer, will invest in a local tungsten miner, the company said on Tuesday December 18.

Chenzhou plans to put a total of 100 million yuan ($15.9 million) into Hunan Xinkuang Mining Group, in the form of loans and investment in a 10% stake in the company, Shenzhen-listed Chenzhou said in a statement. 
The investment aims to further enhance Chenzhou’s resources for long-term development, the company said. 
Xinkuang currently has resource reserves of 8,045 tonnes of tungsten metal, according to Chenzhou. 

Core tips: tungsten prices maintain in China mainland, but individual products show ease evidence. Under this circumstance, tungsten manufacturers are still not willing to reduce their quotation.

The situation of tungsten market is that domestic tungsten prices keep stable constantly, but individual products show ease evidence and tungsten manufacturers are still not willing to reduce their quotation. As to tungsten ore market, both demand and found restrict the development of prices. Ferrotungsten quotation falls into chaos that some of ferrotungsten prices could reach over ￥185,000.00. Tungsten carbide powder market begins to concentrate on mainstream prices without the support of real transaction volume.

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A bankable feasibility study (BFS) on explorer Venture Minerals' Mount Lindsay tin/tungsten project has predicted that the project could generate more than A$550-million in net revenue, peaking at some A$110-million a year.

MD Hamish Halliday said on Wednesday that the BFS emphasised the potential of the project, in particular its longevity, with mine life estimated at around nine years.

“Importantly, the BFS excludes the existing, near production direct shipping ore assets and the considerable exploration upside that surrounds Mount Lindsay," Halliday said.

“With the project expected to deliver strong cash flow over a significant mine life, the development of Mount Lindsay will transform Venture into a prominent world producer of tin and tungsten, delivering returns to shareholders and benefiting stakeholders of the project alike, particularly those in the north-west community of Tasmania.”

The tungsten/tin project was expected to require a capital investment of some A$198-million, including a 35% plant capacity upgrade to 1.75-million tons a year. The BFS predicted that the project had a net present value of A$143-million, with a payback period of four years.

The Mount Lindsay project was estimated to host some 14-million tons of resource, at 0.2% tin and 0.1% tungsten, for 30 000 t of contained tin and 46 000 t of contained tin/tungsten metal.

Halliday said that with the BFS now completed, Venture would focus on the approval process, as well as offtake and financing strategies, for Mount Lindsay.

In addition, the company would also accelerate exploration efforts at the new Big Wilson prospect, where Venture had recently contracted a second rig to start work during the coming week.

Collected by Chinatungsten Online- Dual-listed Wolf Minerals has secured an $82-million funding package to further develop its Hemerdon tungsten and tin project, in South West England.

The funding package with Resource Capital Fund (RCF) would comprise a $75-million, 12-month secured bridge finance facility, and a $7-million consideration for the purchase of a 2% royalty on gross revenues from all metals and minerals produced at the Hemerdon project.

The amount of the drawdown available under the terms of the bridge facility would initially be limited to $40-million, until Wolf has received all the material permits, licences and approvals necessary to start construction and operation at the Hemerdon project.

The further $35-million would be available upon obtaining the required permits.

“We are delighted to secure this funding package with RFC to further progress the Hemerdon project,” said Wolf MD Humphrey Hale.

Hale said on Friday that the initial $40-million would be used to purchase the properties required under the Hemerdon project’s planning permission, design engineering, procurement, owner’s development costs and general working capital.

The bridge facility and royalty would be subject to the completion of relevant documentation and the satisfaction of typical conditions precedent, which included executing offtake and senior debt facility agreements, as well as shareholder approval.

In addition, the bridge facility would also be subject to Wolf raising A$20-million in equity. The company said on Friday that it was in advanced negotiations with a strategic investor to achieve this requirement.

The Hemerdon project has a total mineral resource of some 401-million tons, grading 0.13% tungsten, as well as an estimated reserve of 26.7-million tons, grading 0.19% tungsten.

The redevelopment of the Hemerdon mine was expected to be completed by 2013, pending approvals, and the project would become one of the world’s largest high-margin suppliers.

Tungsten Manufacturer & Supplier: Chinatungsten Online - http://www.chinatungsten.com
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