Saturday, 28 April 2012
Devon tungsten mine
Wolf Minerals took a step towards its goal of turning a rusting Devon mine into a global player which could challenge the Chinese stranglehold on tungsten.
The rising prise of tungsten means the
AIM-listed company is busy trying to get the Hemerdon Mine (above), back into production. It sits on the world's fourth largest deposit of the metal according
to the British Geological Survey.
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This mine was put out of use by Chinese compitition. Just as it was being commissioned, the Chinese started releasing stocks of tungsten metal onto the world market, and the plummeting price meant it was no longer a commercial mine. Presumably a lot of money was lost by British inversors.
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