Cadillac Works on Resuming Development at Tungsten Project

Cadillac Ventures (TSXV:CDC12) is not a household name when it comes to tungsten. The Canadian exploration company has been primarily focusing its efforts on copper13 in Ontario.

However, it does hold a 51-percent interest in a tungsten property in New Brunswick called Burnt Hill. The Burnt Hill project is a tungsten-tin14 mine that was brought to test production in the 1980s; currently, Cadillac is working on resuming development at the project.
 

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Happy Creek Minerals Acts to Drill Program

At the end of 2012, Happy Creek announced results from its drill program on the Fox property. Results of the program include drill hole F12-27.

Which returned 4.1 meters of 1.78-percent W03 (tungsten trioxide) at surface, 14.8 meters of 4-percent W03 starting at 83.2 meters and 24 meters of 0.79-percent W03 starting at 136 meters.

According to David Blann, president and CEO of the company, drill hole “F12-27 appears to be one of the best tungsten results globally in the past 30 years or more.”
 

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Happy Creek Minerals Starts Summer Drill Program

Canadian exploration company Happy Creek Minerals (TSXV:HPY10) is starting the summer drill program at its Fox tungsten project, located near 100 Mile House in British Columbia.
 

Happy Creek intends to drill between 12 and 15 holes for at total of 1,200 meters. The company is targeting shorter holes to access the near-surface and near-horizontal position and orientation of the mineralization.
 

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Wolf and Blackwell Act to Against the Hardtime

With summer coaxing tungsten traders into relaxation, tungsten exploration, development and mining companies are hard at work on their projects.

More recently, Wolf engaged CA Blackwell (Contracts) for a mining services contract valued at GBP85 million (AU$140 million).

Blackwell is expected to commence its work contract at Hemerdon sometime in March 2014. Per the contract agreements, investors can expect work to be completed at the project in two parts.

Phase one of the contract will include mine stripping and development for which the company anticipates an 11-month timeframe.

The second phase of the contract will be undertaking the development of the Hemerdon mine, which should take up to five years to complete once phase one has been finalized.
 

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Minerals Hemerdon Project Moves fast

APT tungsten prices are holding steady at $400 to $410 per metric ton unit (mtu). And with summer coaxing tungsten traders into relaxation, tungsten exploration, development and mining companies are hard at work on their projects.

One of the fastest-moving brownfields projects for tungsten is Wolf Minerals‘ (ASX:WLF6) Hemerdon project in the United Kingdom. The ASX-listed company is working hard at developing the project in order to bring it back online.

In June7, Wolf reported the first drawdown from the US$82-million funding package by Resource Capital Fund. The company also announced the start of a GBP75 million (~AU$123 million) Engineer Procure Construct contract with GR Engineering Services.
 

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Tungsten And Rare Earth Industry In Jiangxi

China to cultivate high-level professionals for tungsten and rare earth industry in Jiangxi.

Jiangxi government, the Ministry of Industry and Information TechnologyMIIT and the Ministry of Education announced to support and encourage Jiangxi University of Science and Technology to cultivate strategic high-level professionals for tungsten and rare earth industry, according to the press conference held by Jiangxi University of Science and Technology in Nanchang on Jul 16. Luo Sihai, the president of Jiangxi University of Science and Technology introduced.

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

 

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Tungsten Carbide Powder Market On July 17,2013

Consumers inactive in purchasing tungsten carbide powder.

In the recent days, the tungsten carbide powder market continued to be dull. The raw materials prices keep increasing, and the production cost for tungsten carbide powder factories moves up accordingly.

However, owing to the soft demand, the downstream customers are cautious in making deals, and watch the market for a while. 

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

 

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China Tungsten Concentrate Market

China tungsten concentrate prices stable.

China tungsten concentrate prices are stable this week, and the trading volume is small in the spot market.

Many market participants watch the future market, and are inactive in making deals. A source revealed that the prices for wolframite 55% are at RMB144,000-146,000t USD363-368mtu by cash in the spot market, and some offers are at RMB148,000-150,000t USD3.

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

 

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Tungsten Specific Experience is Key to Investors

As in any mining story, grade is very important. But tungsten differs from other industrial metals and minerals and can be a tough metal to process.

In fact, it is so specialized that experience with any other metal or material is not transferable.  Therefore, having geologists and a metallurgist who have significant tungsten specific experience is key.

Furthermore, there are primarily two minerals that contain tungsten—wolframite and scheelite—and each requires different milling techniques.
 

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Tungsten Demand is Correlated with Growth

The benchmark for tungsten concentrate is ammonium paratungstate (APT), which is the key intermediate product and most commonly traded tungsten material. The APT benchmark is based on FOB Rotterdam. Tungsten demand is correlated with growth in gross domestic product (GDP). While Europeans' consumption of tungsten is down,

Europe only accounts for 12% of global consumption. China and the U.S. account for 55% and 13%, respectively, and their two economies are doing much better. According to Bloomberg, consensus estimates for growth in GDP for China and the U.S. averages 8.03% and 2.50%, respectively, for 2013, 2014 and 2015.

The consensus estimate for Europe's growth in GDP during the same period is only 1%. Therefore, there is certainly an argument that APT prices are artificially low and should be higher than the current average of $350/metric ton unit ($350/Mtu), which is up 8.5% relative to the end of 2012.
 

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