Vital Metals Looks to Triple Production at Tungsten Project in Australia

Vital Metals may triple the size of its planned tungsten mine in Australia to 3 million tpy on expectations that a weaker Australian dollar, lower production costs and a strong tungsten market will make the project more profitable.

The outlook for tungsten is brilliant on China’s robust demand, Mark Strizek, Vital’s managing director said in a statement. Ongoing quota on APT exports and ban on the export of tungsten concentrate continues to put pressure on prices.

“China has the world’s biggest tungsten resources and accounts for about 80 per cent of global consumption but they are now importing it to help meet domestic demand,”
 

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