An Australian firm is pressing ahead with its plan to develop a tungsten mine near Plymouth. Wolf Minerals has received the first part of a £52m funding package, which was signed off last month.

It means the long-delayed purchase of 15 homes around the mine site can proceed. Tungsten, which is used the production of alloys and steels as well as armaments, light bulbs and as ballast for racing cars, was discovered at Hemerdon in 1867.
 

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Carbine Tungsten's aim of becoming one of the leading western producers of tungsten concentrate will be achieved through its Tailings Retreatment Project .

Which commenced production in 2012 along with the re-awakening of the Hard Rock open-cut mine which is scheduled to commence production in 2014. 

Carbine Tungsten's strategy is to focus on tungsten production, and with the exception of its tin prospects at Mt Carbine and Tara (NSW) is in the process of joint venturing or selling its other prospects.

Carbine Tungsten's gold prospects have been spun out into a company called Gossan Hill Gold Limited which is currently 100% owned by Carbine Tungsten.
 

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North American Tungsten Corporation  is pleased to announce that it has received TSX Venture Exchange approval for the issuance of an aggregate 5,000,000 common share purchase warrants .

To two directors in connection with the previously announced extension of the Company's CAD$12,000,000 working capital loan facility .

Each Warrant is exercisable for one common share of the Company at an exercise price of $0.20 per common share. The Warrants will expire on June 30, 2014.
 

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Breakaway Research released an updated commissioned research report covering Wolf Minerals Limited  and the development underway at its Hemerdon tungsten project in England.

The DFS indicated a project NPV of £74M (A$ 122M or A$0.62/share) and assumed an APT price of US$360/mtu and a tin price of US$30,000/t.

Cash costs (after tin credits) were estimated at US$105/mtu. Current APT and tin pricing is US$417/mtu and US$21,000/t respectively.

Based on commodity price sensitivity analysis, Breakaway estimates a current NPV range of between £100-£110M (A$0.84-$0.92/share).
 

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China tungsten carbide powder market sees few deals.

China tungsten carbide powder suppliers hold offers firm this week under the current tungsten concentrate and APT prices.

But as the downstream customers are inactive in making deals, the trading volume is small in the spot market.

You can visit the following links for more information about   tungsten carbide powder market.

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China tungsten scrap market remains quiet.

The tungsten scrap market moves slowly. The trading volume is small in the spot market, and the offers keep stable.

A recycler based in Hunan, whose trading volume is around 20 tons per month, expressed that tungsten scraps price moves up owing to the increasing tungste prices.

You can visit the following links for more information about  tungsten scrap market.

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Japanese tungsten market inactive with increasing tungsten prices.

It is said that the consumption for cemented carbide and other kinds of tungsten products keeps low in Japanese tungsten market. Japanese tungsten market keeps quiet, as traders and consumers are inactive in making deals.

China tungsten suppliers raise offers continuously, but the Japanese customers are unwilling to accept. A consumer based in Japan stated that they have not make purchasing so far this month.

You can visit the following links for more information about  tungsten prices.

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According to the statistics of China Nonferrous Metals Industry Association, the output of tungsten concentrate was 124,706 tons in 2012, increased by 122,000 tons over 2011 with the growth rate of 2.25%.

In 2011, the revenue growth rate of tungsten ore smelting enterprises was higher than cemented carbide enterprises, and the industry-wide sales revenue exceeded CNY 70 billion with the year-on-year growth of more than 40%.

In 2012, the downstream demand was weak affected by global and domestic economic recession, which had a bad effect on tungsten ore market revenue; and the tungsten industry-wide sales revenue declined by 15.6% over 2011.
 

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According to the statistics, from 2003 to 2011, China’s tungsten ore reserves decreased from 4.2 million tons to 1.9 million tons with the decline of 54.8%.

Calculated in accordance with the production capacity in 2010, the current reserves only own 23 years of mining life. “China’s Oil, Gas and Solid Mineral Resources Reserves in 2012”.

Which was issued by the Ministry of Land and Resources, note that the newly-added tungsten ore was 841,000 tons in 2012.
 

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China’s tungsten resources are widely distributed in 23 provinces (autonomous regions), according to preliminary statistics, there are 382 tungsten ores in China.

Which mainly distribute in Jiangxi, Hunan, Guangdong, Yunnan, Guangxi, Inner Mongolia and Fujian. As for tungsten reserves, China’s tungsten resources mainly distribute in Hunan and Jiangxi.

As far as the types of tungsten ore, China’s main type is white tungsten ore, followed by black tungsten and black-and-white mixed tungsten ore, the proportion is 69%, 22% and 9% respectively.

As for different regions, Jiangxi is mainly based on black tungsten concentrate, Hunan is mainly based on white tungsten concentrate and Henan is mainly based on the byproducts of molybdenum ore.
 

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