Junior Miners Focus Their Looks at Tungsten in Portugal

Companies wanting strong tungsten projects in their portfolios are looking to Portugal as a jurisdiction to achieve that goal. Among the group of junior miners exploring Portugal’s mineral wealth is Colt Resources (TSXV:GTP,OTCQX:COLTF), which stated in a corporate presentation that Portugal remains largely overlooked and underexplored despite mining history dating back 2,000 years.

Echoing Colt’s sentiments is Jim Robertson, Director, President and CEO of Blackheath Resources (TSXV:BHR, FWB:04B) who told Tungsten Investing News (TIN) that Portugal’s tungsten mining history dates back to the end of the 19^th century.

Robertson points out that the nation’s Panasaqueira mine is one of the few continuously operating tungsten mines outside of China and it has produced high grade wolframite for over 100 years.  By 2008 when Primary Metals was acquired by the Japanese metal firm Sojitz, Panasaqueira was a turnaround story that was central in a deal worth roughly 20 times earnings and that resulted in a 30-fold return on investment in 3 years.

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