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Hazelwood reports 340% jump in inventory

Hazelwood reports 340% jump in inventory

Photo by Bloomberg

10th April 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Tungsten miner Hazelwood Resources has reported a 340% increase in its tungsten inventory, after it declared an inferred resource of 60.8-million tonnes, grading 0.17% tungsten at its Trench deposit.

Total tungsten mineral resource at its Mt Mulgine tungsten project, in the Mid West, now stood at about 85-million tonnes, grading 0.17% tungsten, the miner said.

Total contained tungsten was estimated at 14.5-million tonnes, or about 114 600 t of contained tungsten metal.

A recently completed prefeasibility study for the Mt Mulgine project estimated that a capital investment of about A$31.5-milllion would be required to establish a concentrator at the Mt Mulgine project, with the project delivering 90 000 t/y of concentrate.

The concentrator would, conceptually, provide about one-third of the required yearly feedstock for the ATC ferrotungsten project, based on the projected 2015 production.

MD Terry Butler-Blaxell said on Thursday that the resource growth at Mt Mulgine boded well for Hazelwood’s long-term future in the industry as a vertically integrated specialty metals producer.

Edited by Creamer Media Reporter

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