Tungsten Projects

Tungsten projects see some action.

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 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 June, 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.

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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