https://www.miningweekly.com

Hazelwood pays debt with ferrotungsten sale

12th December 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

JOHANNESBURG (miningweekly.com) – Ferrotungsten miner Hazelwood Resources has repaid a A$3.5-million short-term bridging facility with part of the sales proceeds from its third production campaign.

The short-term facility was used to finance the ramp-up of ferrotungsten production from the ATC ferrotungsten project, in Vietnam.

Hazelwood said on Thursday that several containers of premium grade ferrotungsten, worth more than A$4-million of sales, were dispatched in late November, and this third campaign would continue until January, the company said.

The third campaign was expected to generate a further A$8-million in additional sales revenue over that period.

Meanwhile, MD Terry Butler-Blaxell said that following the recent A$5-million placement, the company can now continue towards record production levels.

The third production campaign would process some 400 t of additional feedstock, and Butler-Blaxell noted that procurement for the next campaign in early 2014 was also advancing well.

Stage 1 of the ATC plant had a nameplate capacity of 4 000 t/y of ferrotungsten alloy, equivalent to 3 000 t/y of contained tungsten. A second stage, if completed, would have sufficient capacity to supply around 25% of the world’s ferrotungsten.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 
Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.055 0.975s - 110pq - 2rq
Subscribe Now