JOHANNESBURG (miningweekly.com) – ASX-listed tungsten and molybdenum producer Queensland Ores on Tuesday announced that it had suspended operations at its Wolfram camp, in North Queensland, in order to conserve cash while some mining and metallurgical issues were addressed.

The step had been further reinforced in light of a combination of the recent weakness in the molybdenum price, and current market conditions.

The company stated that the mine had not yet been able to achieve target head-feed grade, and the treatment plant had also experienced low recoveries.

“It has recently become clear that these problems cannot easily be overcome in the short-term, because of the time required to ascertain the root cause of the head-feed grade problem, and the modification required to ensure acceptable process performance from the treatment plant,” the company said.

To safeguard the potential future of the company, the Queensland Ores board deemed it necessary to reduce the cash expenditure associated with current operations.

However, the company added that it was continuing to pursue a number of options, including additional funding.

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