Ormonde Has Got Approval for the Barruecopardo Mine

Tungsten is the second-hardest metal in the world, after diamond, and is used in aerospace and drilling.The drilling company has got approval from the Spanish provincial government for the Barruecopardo mine, which is located in Salamanca.

This is the last hurdle to be cleared before getting approval from Spain's federal government.Currently, China supplies about four-fifths of all the world's tungsten but Ormonde says the mine will be a major and secure European source for the metal.

It says the site will be able to supply 8pc of all tunsgsten sourced outside of China.Ormonde expects to be able to sell tungsten produced from Barruecopardo at about $350. This would pay back the cost of developing the well in about two and a half years.
 

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