Carbine's flagship plans approved
PERTH (miningweekly.com) – ASX-listed junior Carbine Tungsten on Tuesday told shareholders that it had received the final approval for its tungsten stockpile facility for the processing phase of the Mount Carbine project, in Queensland.
The approvals included a processing capacity of up to three-million tonnes a year, a new hard-rock processing facility, and the extraction of ore from about 12-million tonnes of hard-rock stockpiled tungsten material.
“The approval for the plan of operations is the final document required towards the development of the stockpile processing phase of our hard-rock project,” said Carbine MD Jim Morgan.
“Given the global tungsten supply shortage and the growing tensions around traditional Asian tungsten supply sources, Mount Carbine is well positioned, having a ready supply of tungsten concentrates from its historically proven large-scale mine.
“This provides Carbine with a realistic and significant global advantage and the opportunity to become a leading low-cost, low-risk, long-term free-market tungsten supplier,” Morgan added.
In September, Carbine was given environmental clearance to process hard rock stockpiled ore at Mount Carbine to progress the project and supplement production from the existing tailings treatment operation.
A capital expenditure of some A$15-million would be required to construct a plant to process the 12-million tons of low-grade stockpiled ore.
The company was also hoping to restart the historic opencast operations at Mount Carbine within the next 18 months. The opencast mine was estimated to host a resource of 47-million tons and a reserve of 18-million tons.
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