The ore sorting equipment that Canada-based tungsten miner Almonty Industries plans to use at its Panasqueira mine, in Portugal, has arrived on site, after customs released the shipment earlier in the week.
Almonty said the equipment, which is being assembled under an agreement with Cronimet South Africa, would allow additional reclamation of the coarse fraction tailings and would result in a production increase of about 10% in the Panasqueira mine’s production.
The industrial tests are forecast to run during the second half of August and the commissioning of the installation is planned for late August.
"We have overcome difficult times and used the time wisely to lay the foundation for the success we have now.
“Now it is time to reap the benefits of our hard work while global tungsten prices are at four-year highs with APT price recently breaking through $350/MTU, further enhanced by current foreign exchange rates. The days of cheap tungsten are long gone and we’ve entered new territory now,” said Almonty CEO Lewis Black.